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Without a doubt about Bing ban does not stamp down short-term lending that is payday

Without a doubt about Bing ban does not stamp down short-term lending that is payday

Bing had established a international crackdown on Android os apps offering short-term loans in August just last year but nevertheless, payday-style applications continue to be no problem finding in lots of nations on Google Enjoy shop.

In August, Bing announced a crackdown that is global Android apps that provide short-term loans, saying it desired to protect customers from just what it called “deceptive and exploitative” terms.

But five months later on, payday-style applications providing quick cash for one or a couple of weeks remain simple to find in several nations on Bing Enjoy, the company’s market for Android os apps. Some fee rates of interest that will go beyond 200 % annualized.

Lending apps are especially popular in developing countries such as for instance Nigeria, Asia and Kenya, where thousands of people don’t have actually bank records or bank cards but do have mobile phones.