The deal will see smartphone distributor lease out Android smartphones to end-users without the need for an underlying credit score or banking history. End users are also able to use their leased Android smartphones by paying a monthly fee. Angaza’s partner distributors can send out payment reminders to Android smartphones and keep track of upcoming payments on the Angaza platform. If the end-user misses their monthly payment, access to the smartphone is remotely blocked using NuovoPay’s remote locking technology. This serves as a remote recovery mechanism for leased devices. End users can continue using the smartphone after the payment is completed. The two aim to further their mission to increase accessibility of smartphone technology in emerging markets, while emphasizing financial inclusion for low-income consumers who lack access to a conventional credit system.
