A new generation of digital payday lenders are springing up in Australia as demand for short-term loans surges
Getty Images A new breed of digital payday lenders are popping up in Australia, with the lending niche growing five times larger in just 12 months. Joining an array of app-based competitors, the Commonwealth Bank is offering its own pay advance feature to customers. Financial commentators, however, are urging people to do their homework before borrowing. While the idea of payday lenders might conjure up images up loan sharks and dimly lit offices, a new generation of financial apps insist they’re doing more than apply a new lick of paint to a sleazy old model. The last 12 months has seen a...
Source: businessinsider.com.au