Juvo, a provider of financial identities for the underbanked, has announced a strategic partnership with DOCOMO Digital, the preeminent mobile commerce enabler. The partnership will focus on combining Juvo’s financial identity and credit lending capabilities with DOCOMO Digital’s class-leading payments platform for mobile carriers, OTTs and digital merchants. This partnership would enable increased financial flexibility for prepaid mobile users, especially in the emerging markets, as consumption of digital services and OTT content continues to rise.
DOCOMO Digital partners with over 200 mobile operators and over 300 digital merchants and as many payment providers to make mobile commerce a frictionless experience. Consumers can choose to pay for digital services as part of their post-paid phone bills or use their pre-paid balances to do so. However, consumers in emerging markets often abandon their purchases either due to insufficient pre-paid balances or ready access to conventional payment methods such as credit cards. This partnership between Juvo and DOCOMO Digital would now allow for such transactions to be completed with micro-credits extended instantaneously, and without the need for consumers to top-up immediately.
Juvo’s technology leverages previously untapped data sources, including network, application and repayment data, to build financial identities and establish credit worthiness for unknown and underbanked consumers. Based on these financial identities, Juvo helps service providers (operators, financial institutions, and merchants) better understand creditworthiness and offer credit so that more transactions can be approved. Juvo’s partnership also allows providers to offer rich content and financial services that weren’t previously available to customers without credit.