6DOT50 and Payjoy partner to drive financial inclusion.
Article written by South Africa Today News ~ 22 Nov 2021
South Africans can now enjoy 6DOT50 transactional services and access PayJoy loans without the need to own a bank account.
6DOT50 (www.6DOT50.com), a unique digital money and transactional services platform, has partnered with PayJoy, a global leader in consumer credit solutions to the emerging global middle class, to provide smartphones on credit, without the need for the consumer to have a credit score or bank account.
6DOT50 Account holders are now also able to access PayJoy’s services to purchase a new smartphone without the need to have a credit score or bank account. “We built the 6DOT50 Digital Money platform to offer an alternative way for people to hold value and access a free transactional account without the need to produce an ID or proof of address. We did not want to make it easier to access banking, we wanted to offer an alternative to banking. PayJoy’s no credit score, no bank account approach to financing is aligned with our agenda to drive financial inclusion with new innovative products and services.” says Warren Venter, founder and CEO at 6DOT50.
In addition to the above, the partnership provides PayJoy access 6DOT50’s new PAY feature designed to enable organisations to instantly distribute incentives, rewards and commission to any mobile number by simply uploading a PAY file. The solution has been adopted by PayJoy to distribute incentives to agents tasked with promoting PayJoy’s products throughvarious retailers across South Africa.
“We previously distributed brand-specific vouchers without any ability to manage the distribution to hundreds of recipients. Using 6DOT50 PAY has not only saved on fees and frustrations, but our recipients of Digital Rands are delighted with being able to spend their value across more than 50 000 stores and online retailers without being tied to brand-specific spend,” says Dominque Friedl, General Manager at PayJoy.
With more than 11 million people across South Africa being unbanked, 6DOT50 and PAYJOY are rewriting the rules of the financial system and carving a new route to drive financial inclusion.
About 6DOT50
6DOT50 is a digital money platform that allows you to store your money, instantly SEND and receive money and PAY for goods and services. Its FREE and doesn’t require you to transact using a bank account. That means no KYC, no FICA, no documents, no red tape.
Whether you are a crypto holder or a business needing a cost-effective incentive payment solution, 6DOT50 is your alternative way to pay and get paid..
About PayJoy
PayJoy’s mission is to make smartphones affordable worldwide through a unique technology that enables people who lack credit to purchase their first smartphone on a periodic instalment plan or subsidy. Today, PayJoy’s secure locking technology and proprietary data science facilitate the offer of affordable smartphone payment plans to underbanked people in over 10 countries with the long-term goal of reaching 1 billion people in emerging markets worldwide.
Go to https://payjoysa.co.za/ for more information