92% of working mothers view smartphones as tools to access employment
SAN FRANCISCO, January 23, 2025 /PRNewswire/ — PayJoythe leading provider of financial services to underserved people in emerging markets, today released its latest report “Unlocking economic mobility: financing smartphones and the rise of from Mexico Working mother micro-entrepreneurs.“Learning from more than 1,100 working mothers in Mexico who received a PayJoy smartphone loan, the report examines the impact of access to smartphones on their work, family life and financial stability. Ninety-two percent of working mothers Mexico indicated that smartphone financing allowed them to maintain their current jobs.
Smartphones are essential for working mothers, PayJoy data shows Mexicowith 95% of mothers working outside the home believe that having a smartphone allows them to find a jobAnd 94% of working mothers say smartphones help them work from home and manage remote work effectively.
In Mexicoworking mothers operate in a difficult economic landscape marked by 32% gender gap to participate in work while simultaneously managing 40 hours per week of unpaid care and household tasks (twice the time men spend on similar responsibilities). Smartphone financing is emerging as an essential tool for these women, providing flexible economic opportunities that allow them to balance household responsibilities and income generation through accessible mobile financial tools that support entrepreneurship, remote work and management of micro-enterprises.
“Smartphones are more than devices: they are gateways to financial inclusion for from Mexico working mothers,” said Priscilla BarrantesCountry Director of PayJoy in Mexico. “From customer relationship management to access to mobile payments and gig work platforms, smartphones are transforming the way women participate in the economy. It’s no surprise that more than half (55%) say their income has increased because they now have access to a smartphone.
from Mexico The workforce is increasingly shaped by working micro-entrepreneur mothers, defined as mothers who balance their responsibilities of caregiving, household chores, and employment to supplement family income. Many of these women participate in the informal economy – in economic activities such as street vending, domestic work and gig work – by holding down multiple jobs and becoming micro-entrepreneurs in the quest for a better future. economical for themselves and their families.
Sixty-five percent of PayJoy’s female customers in Mexico operate in this informal economy, with 75% of this group working more than seven hours a day and 24% working more than ten hours a day.
Of PayJoy customers surveyed, 67% are working mothers and 73% say their smartphones are extremely important to them.
Ninety-five percent of mothers say their phone allows them to balance work and family responsibilities.highlighting how smartphone finance supports micro-entrepreneurship and economic mobility. This ability to balance work and family responsibilities is essential for working mothers: 96% say that care and the ability to work are equally important to them.
“We are committed to supporting women who are often overlooked by traditional financial services,” Barrantes continued. “We believe true impact comes from providing everyone with the opportunity to access tools that can make a meaningful difference in their lives.”
To view the report and explore the full results, visit: https://www.payjoy.com/blog/unlocking-enomic-mobility
Survey methodology:
In October 2024PayJoy conducted a survey of 1,146 working mothers in Mexico who are also PayJoy customers. All personal data is provided on a voluntary and completely voluntary basis, while maintaining data confidentiality.
About PayJoy
PayJoy is a financial services provider whose primary mission is to help underserved customers in emerging markets achieve financial stability and success. We lend using 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 greatest number of customers in the sector. Since 2024, we have delivered billions of dollars of credit to 13 million customers, doubling over the past two years while remaining highly profitable and sustainable over the long term.
For more information, visit https://www.payjoy.com/.
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SOURCE PayJoy
