---
title: "PayJoy Joins Colombia Fintech to Expand Formal Credit Access"
description: "PayJoy joined Colombia Fintech on September 5, 2026. The lender says smartphone financing and its PayJoy Card can help more people build credit history."
canonical_url: "https://liners.com/news/payjoy-joins-colombia-fintech-formal-credit-access"
markdown_url: "https://liners.com/news/payjoy-joins-colombia-fintech-formal-credit-access.md"
type: "article"
language: "en"
published_at: "2026-09-06T19:18:06.790Z"
updated_at: "2026-09-06T19:18:11.471Z"
---

# PayJoy Joins Colombia Fintech to Expand Formal Credit Access

PayJoy joined Colombia Fintech on September 5, 2026. The lender says smartphone financing and its PayJoy Card can help more people build credit history.

## Breadcrumbs

- [News](/news)
- [PayJoy Joins Colombia Fintech to Expand Formal Credit Access](/news/payjoy-joins-colombia-fintech-formal-credit-access)

## Content

## In Short
- PayJoy joined Colombia Fintech on September 5, 2026.
- The association said the move could open new opportunities for access to formal credit in Colombia.
- PayJoy’s core product is smartphone financing for customers without a credit history.

## What Happened
PayJoy has joined Colombia Fintech, the country’s fintech industry association. PayJoy, a fintech founded in 2015, says it focuses on expanding access to formal credit for people who struggle to qualify at traditional banks.

In Colombia, PayJoy says it has issued more than 3 million loans and financed more than 2 million mobile phones since launching operations in 2020. The company operates in more than 10 countries across Latin America, Asia, and Africa.

PayJoy’s model starts with a phone purchase. Customers can buy a smartphone in instalments, even if they do not have a bank account or credit history. The phone itself acts as collateral, meaning it is the “security deposit” for the loan and lowers risk for the lender.

In Colombia, PayJoy distributes these loans through partner retailers. The onboarding process typically requires basic documentation, an active SIM card, and a down payment. PayJoy says its system assesses the applicant in minutes and proposes a repayment plan that matches the person’s profile.

The company also offers the [PayJoy](/payjoy) Card, a Mastercard network credit line for in-store and online purchases. PayJoy positions the card as a next step for customers who have repaid their phone loan on time and want a broader revolving credit product.

## Why It Matters
Smartphone financing is becoming a common on-ramp to credit in markets where many adults are “credit invisible,” meaning they have no formal borrowing record. If repayments are reported, they can help users build a credit history and qualify for other financial products over time.

For Colombia Fintech, adding PayJoy brings more experience in alternative lending models. For PayJoy, membership can improve access to local partners and help it shape discussions on digital credit and financial inclusion.

## Sources and products

- [colombiafintech.co](https://colombiafintech.co/2026/09/05/payjoy-se-une-a-colombia-fintech-abriendo-nuevas-oportunidades-de-acceso-al-credito-formal)
- [PayJoy](/payjoy)

## Related pages

- [Expansion & Partnerships](/news)

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