Juvo will combine its financial identity and credit lending capabilities with DOCOMO Digital’s payment platform as part of new partnership.
The deal will enable more financial flexibility for prepaid mobile users, particularly those in emerging markets.
DOCOMO Digital is partnered with more than 200 mobile operators and 300 digital merchants so they can supply customers with different digital payment methods. With DOCOMO, a consumer can choose to pay for products with their post-paid phone bills or use their pre-paid balances.
Payments are often abandoned in emerging markets due to insufficient pre-paid balances, the company claims. By working with Juvo, the company can allow these transactions through micro-credits.
Juvo uses various data sources, such as network, application and repayment data, to build financial identities and establish credit worthiness for underbanked consumers.
DOCOMO Digital CEO Jonathan Kriegel said, “Our partnership with Juvo aligns perfectly with our endeavour to make the mobile commerce experience seamless for consumers, while unlocking more value for mobile operators and digital merchants. While access to mobile and data services is growing rapidly in the emerging markets, the access to conventional financial services has not kept up.
“Together with Juvo, we can provide more financial flexibility to mobile subscribers in these markets.”
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