Since entering the South African market five years ago, PayJoy has been transforming access to smartphones for emerging market communities.
With over 17 million customers across South Africa, South America, Mexico, and Indonesia, PayJoy is the first-to-market in South Africa’s smartphone rental industry, bridging the digital divide and promoting financial inclusion.
The Role of Mobile Technology in Digital Inclusion
Mobile technology has become a key driver of financial and digital inclusion in South Africa. Despite widespread mobile adoption, only 47% of devices in use are smartphones, while 35% remain basic feature phones with limited capabilities.
As the digital economy grows, access to smartphones is increasingly essential, enabling participation in education, commerce, and financial services that are predominantly mobile-first.
Bridging the Financial Gap
Across Africa, approximately 350 million people remain outside the formal financial ecosystem. Without formal credit histories, these individuals face barriers to financial services.
South Africa mirrors this challenge, yet its digital economy contributes around 19% of annual GDP. Expanding smartphone access can directly enhance participation in the modern economy, improve employment opportunities, and strengthen financial inclusion.
Growth of South Africa’s Smartphone Rental Market
In response to growing demand, South Africa’s smartphone rental industry is expected to expand annually, drawing attention from fintech and retail players alike.
PayJoy stands out as a leader in this space, operating hundreds of in-store kiosks nationwide. This growing physical presence ensures that more South Africans can gain affordable access to smartphones.
“In an era where smartphones are gateways to opportunity, PayJoy’s local footprint continues to expand month-by-month, signaling the real, tangible impact that smartphone-enabled access is delivering for South Africans,” says Deon Verster, PayJoy’s Country Manager for South Africa. “Affordable access to smartphones and digital services meets critical needs in education, employment, healthcare, and financial tools.”
How PayJoy Works
PayJoy currently processes over one million customer transactions each month, demonstrating the effectiveness of its rental model in South Africa.
Customers only need a government-issued ID and the required deposit to unlock a device previously out of reach through local retail partners. Offering a wide selection of smartphones from leading brands, PayJoy ensures users can find a device that fits both their needs and budget.
Building Credit and Supporting Communities
Beyond providing smartphone access, PayJoy enables customers without existing credit records to start building a credit history.
The company also creates employment for over 1,200 sales representatives across its distribution channels, supporting the retail value chain and strengthening local communities through meaningful work and access to technology.
Looking Ahead
PayJoy continues to expand its footprint across South Africa, bringing smartphones to more communities and customers. In 2026, the company plans to introduce a range of new products designed to meet evolving customer needs, further enhancing access to technology and opportunity.
Watch this space for updates in the Technology category on Running Wolf’s Rant.
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