Erajaya Swasembada (ERAA), PT ITC Auto Multi Finance, a division of ITOCHU, and PayJoy have announced the launch of their next-generation smartphone financing in Indonesia. ITOCHU will use PayJoy’s proprietary Checkout software platform to qualify and approve Indonesian customers for monthly payment plans in Erajaya’s Erafone stores across Indonesia, requiring only a national ID, Facebook account and an active phone number. This new financing option represents a breakthrough in Indonesia, where according to the GSMA there are 1.4 mobile connections per adult, but less than half the adult population has a smartphone and credit card penetration is only 5%.