Belvo, an Open Finance platform operating in Latin America, and PayJoy Mexico, a mobile phone financing company, have announced the strengthening of their collaboration to integrate employment data, with explicit user consent, into credit origination and management decisions.
The initiative is designed to improve decision accuracy, reduce processing time, and expand access to formal credit for underserved segments in Mexico.
The integration augments PayJoy Mexico's decisioning at the point of financing a mobile phone and supports progressive credit line increase evaluations over time. As part of recent optimisations to the process, the flow was adjusted to request the user's national identity number (CURP) earlier during data capture, reducing average total process time by 40 seconds and enabling 75% of cases to receive a response in 40 seconds or less, according to internal project data.
Mobile phone financing and financial inclusion context
The collaboration is set against the backdrop of widespread smartphone dependency in Mexico. According to the ENDUTIH 2024 national survey, 100.2 million people used the internet in Mexico in 2024, representing 83.1% of the population aged six and above, with 97.2% of internet users connecting through a smartphone. Mobile phones function as primary tools for work, commerce, payments, education, and access to formal services for large portions of the population, particularly in segments with limited traditional financial histories.
Employment data provides an additional signal for onboarding, risk assessment, and offer personalisation in these segments, where conventional credit bureau data may be sparse or absent. Belvo and PayJoy Mexico are exploring a roadmap for continued responsible use of employment signals to support risk adjustments, preventive servicing, and re-offers when a user's financial profile improves.
Commenting on the news, Nicolás Schiaffino, Vice President and Country Manager of PayJoy Mexico, mentioned that integrating employment signals with Belvo strengthens decision quality, speeds up processes, and expands access to formal credit for historically underserved users. Adding to this, Federica Gregorini, General Manager of Belvo in Mexico, noted that consent-based employment data can make credit more accurate, reduce friction, and help more people access financing sustainably.
