This Week in Fintech's Podcast Scaling Impact in Emerging Markets: Doug Ricket, PayJoy CEO, on Productivity Finance and Unlocking Credit Access
Sep 10, 2025
Doug Rickett, the founder and CEO of PayJoy, discusses his fascinating journey from managing logistics in Africa for solar lighting to creating a tech-driven financial service aimed at underserved communities. He shares insights on the innovative use of smartphones as collateral and the impact of predictive AI in credit assessments. The conversation also delves into the balance between profitability and social impact, the lessons learned during COVID-19, and PayJoy's vision to expand into comprehensive financial services. A compelling listen for fintech enthusiasts!
AI Snips
Chapters
Books
Transcript
Episode notes
Peace Corps Shaped His Mission
- Doug Rickett lived with a host family in the Gambia during the Peace Corps and learned Wolof while forming deep bonds.
- That experience anchored his lifelong interest in international development and empathy for underserved customers.
A Tragedy That Redirected His Career
- A childhood farm accident in his host village showed Doug the lethal gap caused by lack of simple connectivity and services.
- That shock pushed him from maps and tech at Google toward social enterprise and D‑Light's pay-as-you-go solar work.
Flexible Payments Fit Local Habits
- Customers in emerging markets prefer small, flexible payments rather than spending lump sums from savings.
- Pay-as-you-go aligns product pricing with local payment habits and unlocked huge adoption for solar and later smartphones.
