Let me make it clear about brand brand New Budgeting Apps make an effort to Disrupt Payday Lending
A handful of entrepreneurs are looking to narrow the gap between an honest day’s work and an honest day’s pay at a time when the industry is moving toward faster payments.
These apps have emerged as options to bill that is late costs, overdraft charges and pay day loans for everyone with volatile earnings, like Uber motorists, freelancers and sometimes even some hourly paid employees.
The rising technology comes as slow payments look increasingly anachronistic within the mobile period. It calls into concern the tradition of having to pay individuals from the very first and fifteenth and tackles one of many thorniest problems in customer finance: liquidity.