To add even more context: This is to finance those $30 Android Go phones. This is for the 'developing nations' schtick. They aren't Payjoy Locking some super high end phone here, it's gonna be the $40 no-name Android handset.

It's also to reuse the phone later as collateral again on another microloan, almost like digitally pawning the phone off for twenty bucks each time.