A man counts money at a desk covered with coins and bills. Dollar bills float in the air. A calendar, a clock, a calculator, and a shark appear nearby, highlighting payday loan challenges and urgent consumer pain points.

Payday Loan Challenges: Understanding Consumer Pain Points

In Brief Definition: Payday loans are short-term, high-interest loans due on the borrower’s next payday, often used for immediate financial needs. Eligibility: To qualify for payday loans, borrowers typically need to be at least 18 years old, have a steady income, and possess a bank account. Risks: High-interest rates and fees associated with payday loans […]