P2P Lending and Digital Lending Fintechs Active in Southeast Asia

The size of the Southeast Asian alternative financing market grew from US$46.65 million in 2015 to a whopping US$215.9 million the following year. That’s almost a fivefold leap in market value in just the span of a year, according to a study…

Pros and cons of payday loans

Payday loans are a popular way to pay unexpected bills, make quick payments and keep borrowers busy in the short-term. They may seem convenient but you might not be able to find the right solution for your particular circumstances. What…

How the pandemic is disrupting the pay period

“The health crisis has really shown us that within the working population at large, whether people are salaried or by the hour, the majority do not have enough savings in the bank to last a week or two weeks. “,…

Smart Credit – Is It More Important Than Good Credit? – Yukon News

By Leah Drewcock, CIRP, LIT, Senior Vice President of MNP Ltd. What is smart credit? Smart credit uses credit that you can afford. It’s more than having the means to pay the monthly installments. It’s being able to pay the…

Startup Immediate Accelerates Access to Earnings Earned Through Visa Push Payments | Payments Source

Immediate will use Visa Direct to provide real-time access to employees to collect wages earned but not yet paid by the scheduled payday. The Birmingham, Alabama-based startup offers a cheaper alternative to payday loans. According to PEW Charitable Trusts, 12…

BME companies at ‘greater risk of financial ruin’ during pandemic

BME companies have been disproportionately affected by the coronavirus and the risk of financial ruin has revealed a report. Black, Asian and minority ethnic communities are at greater risk of dying if they contract the virus – but are more…

Some loan apps thrive on Google Play in India despite policy violations

MUMBAI: At least 10 Indian loan apps on Google’s Play Store, which have been downloaded millions of times, violated Google’s rules on loan repayment terms aimed at protecting vulnerable borrowers, according to a Reuters review of these services and more…

China toughens regulations on payday lenders

Financial updates Sign up for myFT Daily Digest to be the first to know about financial news. China’s financial watchdogs have issued implementing regulations confirming an existing ban on so-called “payday loans” online. The measures were released Friday evening by…

Rellevate Enters Early Access to Salary Market with Comprehensive Digital Banking Program

A new fintech company has been launched to provide services to hourly paid workers, who make up nearly 60% of U.S. employees but tend to be underserved by banks. Relévé works with employers to enable them to provide their workers…

Black and Asian businesses were unable to access Covid support, MPs say

Nearly two-thirds of black and Asian business owners felt unable to access state-guaranteed loans and grants at the start of the coronavirus pandemic – leaving many on the brink of financial ruin, suggest research conducted for MPs. Britain’s 250,000 minority-owned…

Your coronavirus stimulus check payment could come in a simple envelope – don’t throw it away

Nearly four million people will receive their stimulus check in the form of a prepaid debit card, but some might not realize exactly what it is when it arrives in the mail. The Treasury Department said Tuesday that prepaid debit…

China uses ‘payday loan’ tactic in the Pacific: US Ambassador, Australia / New Zealand

SYDNEY • China is using “payday loan diplomacy” to exert influence in the Pacific, the new US ambassador to Australia said in comments that threaten to escalate regional tensions. The United States and its regional allies are fighting against China…

Here is everything you need to know about alternative loans in Asia

In the old days, if a big bank rejected your loan application, you were out of luck. Today, technologically advanced companies are taking over, offering lending options outside the purview of traditional banks. In the US and UK, companies like…

Fintechs in Southeast Asia face first big test as COVID-related crime looms

In Singapore, we are looking to double our reporting team by the end of the year to comprehensively cover the rapidly evolving world of funded startups and VC, PE & M&A transactions. We want journalists who can tell our readers…

Payday Loans – Some Japanese Cannot Live Without Them

TOKYO – It’s been a tough decade for Masami Fujino, 48, since he lost his job as a regular employee at a Japanese food and beverage company. He had no savings to save and had to look for part-time jobs…

High Interest Payday Loan Lenders Target Vulnerable Communities During COVID-19

With millions of Americans unemployed and facing financial hardship during the COVID-19 pandemic, payday lenders are aggressively targeting vulnerable communities through online advertising. Some experts fear that more borrowers will start taking payday loans despite their high interest rates, which…

These artists want to blow up the entire financial system

LONDON – “3… 2… 1…” A deafening bang echoed around the deserted Royal Docks marina in east London, as a crowd of onlookers cheered and shouted. The source of this heckling of a recent Sunday morning? The explosive carcass of…

Your bank could take your $ 1,200 stimulus check if you’re in debt

Thomas Trutschel / Photothek via Getty Images This week, the federal government began sending out the first of the $ 1,200 coronavirus stimulus package checks. With unemployment offices saved throughout the country, many people who have lost their income are…