PayJoy Report Unveils How Mexican Working Mothers Leverage Mobile Finance

–        90% of working mothers indicate access to smartphone financing makes them feel more financially secure

SAN FRANCISCO – January 28, 2025 – PayJoy, the top financial service provider to the underserved in emerging markets, released its latest report “Unlocking Economic Mobility: Smartphone Finance and the Rise of Mexico’s Working Mother Micro-Entrepreneurs.” Surveying over 1,100 working mothers in Mexico who have received a PayJoy smartphone loan, this report highlights how smartphone financing improves access to economic opportunities. 

Notably, 90% of working mothers say access to smartphone financing makes them feel more financially secure. Half of the women surveyed earn incomes near or below the poverty line, and 16% live in extreme poverty. Smartphone financing gives these women an on-ramp to formal financial systems, credit histories, and higher incomes.

Additional key findings include: 

Empowering Work Outside the Home: Ninety-five percent of mothers working outside the home credit smartphone ownership as enabling their employment. Slightly more than two-thirds or 67% of respondents are working mothers and 73% report that their smartphones are extremely important to them.

Facilitating Work from Home and Job Retention: Ninety-four percent report that smartphones help them work from home and manage remote work effectively, while 92% credit smartphone financing enabling them to maintain their current employment.

Supporting Informal Work: Sixty-five percent of PayJoy’s female customers work in the informal economy, using their smartphones for gig work, mobile payments, and other micro-enterprises. With 75% of respondents reporting that they work more than seven hours daily, and 24% working over ten hours per day, their smartphone allows them to manage work and family responsibilities better. 

Key findings of “Unlocking Economic Mobility: Smartphone Finance and the Rise of Mexico’s Working Mother Micro-Entrepreneurs” Report

“Smartphones are more than devices—they’re gateways to financial inclusion for Mexico’s working mothers,” said Priscila Barrantes, PayJoy’s Mexico Country Manager. “From managing customer relationships to accessing mobile payments and gig work platforms, smartphones are transforming how women participate in the economy. It’s no surprise that more than half (55%) report that their income has increased because they now have access to a smartphone.”

In Mexico, working mothers navigate a challenging economic landscape marked by a 32% gender gap in labor participation while simultaneously managing 40 hours per week of unpaid caregiving and household duties (twice the time men spend on similar responsibilities).

Ninety-five percent of mothers report that their phone allows them to balance work and home responsibilities, underscoring how smartphone finance supports micro-entrepreneurship and economic mobility. This ability to combine work and family duties is essential to working mothers: 96% say both caregiving and the ability to work are equally important to them. 

“We’re committed to supporting the women who are often overlooked by traditional financial services,” continued Barrantes. “We believe that real impact comes from offering everyone the chance to access tools that can make a meaningful difference in their lives.”

To view the report and explore the full findings visit: Unlocking Economic Mobility: Smartphone Finance and the Rise of Mexico’s Working Mother Micro-Entrepreneur

Survey methodology:

In October 2024, PayJoy conducted a survey of 1,146 working mothers in Mexico who are also PayJoy customers. All personal data is provided on an opt-in, completely voluntary basis while safeguarding data privacy.

About PayJoy

PayJoy is a mission-first financial service provider dedicated to helping under-served customers in emerging markets to achieve financial stability and success.  We lend through our patented technology that turns a smartphone into digital collateral, and our cutting-edge machine learning, data science, and anti-fraud AI allow us to offer the lowest cost and qualify the most customers in the industry.  As of 2024 we have brought billions of dollars in credit to 13 million customers, doubling in the last two years while remaining strongly profitable and sustainable for the long term.

For more information, visit  https://www.payjoy.com/. 

Contact

Jaxon Tan: [email protected]

Ivy Yang: [email protected]