Fishing port gain – Newlyn Wed, 22 Jun 2022 08:48:51 +0000 en-US hourly 1 Fishing port gain – Newlyn 32 32 S Korean Travel makes localized payment case Wed, 22 Jun 2022 08:03:42 +0000

Neither pandemic surges nor inflation will deter adventurous South Korean travelers from booking travel in a year of recovery, but it’s an advanced market that demands more of travel experiences, the way travelers are able to pay and, in the case of suppliers, to be paid.

Regardless of the market, it comes down to solid execution of localization strategies on a global scale, like Worldline Global Travel Manager Damien Cramer says Karen Webster of PYMNTS.

To say that Asia is always behind the West “by a year or a season, if you will,” Cramer explained, “South Koreans, like Singaporeans where I am, and like some of the other maybe more developed markets in Southeast Asia, are a bit ahead of some other markets, and we’re looking forward to travel and we’re definitely planning to travel significantly.

In early June, the South Korean government eased its COVID-19 restrictions, eliminating the so-called push for “revenge trips” for takeoff.

To get the most out of it, travel suppliers must cater to local and regional payment preferences or risk running into foreign exchange (FX) issues that can kill a transaction, Cramer said.

“The biggest challenge, if I had to make it really basic, is the difference in language and cultural experience,” he said. “If you’ve ever branched out and hopped on a native [eCommerce] website or a native [travel] website in Indonesia, the product, the way things are presented and the user experience is quite different from how many westerners like to see it.

It does this by embracing and reflecting cultural, linguistic and regional differences and presenting them appropriately for South Korea – or any distinct geographic market – because what works even in a border country will work at all in neighboring markets.

See also: European Worldline Joins Spreedly’s PSP Partner Program

Conversion of local payments

Highlighting the rising costs of international travel, Cramer said: “What we need to be aware of is that in this costly purchasing decision there is an important level of trust – trusting the way the payment solutions are presented, the types of payment solutions presented, are they payment solutions that I know, trust and recognise? »

Yes, Visa and Mastercard are there, but they go hand-in-hand with “a lot of other very localized payment options where consumers have a high level of trust, and they’re heavily integrated into that market,” he said. he declared to Webster.

“I think we’ll see situations where customers will go, ‘if the airline…that I want to book isn’t going to present me with the option to pay with my Samsung card or whatever, but I can access a online travel will do that, I might be more inclined to use that secondary payment option or that secondary channel, rather than the primary channel,” he said.

It’s a failed conversion and a lost customer – two punches that all players try to avoid.

Approval rates come into the discussion with urgency when cross-border payments are involved, and there are issues that travel providers and payment providers need to address.

“I’m not a very tech-savvy person, but there’s a dark art, I think, associated with approval rates, how and where you route transactions,” Cramer said. “One of the things that’s mostly true is that the closer you can get to a localized network and a localized solution, the more likely you are to get approved.”

Read also: Worldline and Myra team up to deliver better hospitality payments

Data, trust and “Revenge Travel”

The pain and friction of international routing and approvals for expensive travel purchases that set off alarm bells with fraud schemes underscores the role of trust in these transactions.

“Travel is an ambitious service,” Cramer said. “What you get is a market ripe for some level of fraud. People want it, some people can’t afford it or want a better product or better service or whatever, and it happens. lends itself to levels of fraud.

Calling Strong Customer Authentication (SCA) models “a very good way to combat this”, Cramer said the new authentication capabilities are a huge improvement over last-generation solutions which he called ” crude and clumsy” and designed to protect traders more than consumers.

Meanwhile, he said these SCA solutions that assess fraud and risk are based on data points.

“There are some really valuable data points [being collected],” he said. “The data points that we have as a large payments processor that we can add to this are all very important and valuable when it comes to strong customer authentication.”

Worldline offers SCA services and will introduce them in South Korea as part of continued expansion into Asia and other markets.

The data goes a long way in everything from authenticating the purchase up front to issuing a refund down the line if needed, as so many others have since 2020.

“To a large extent, the rails, the infrastructure and the processes [needed] to be able to manage the reverse flow and overall risk were not in place,” he said. “We had to learn by doing. We learned by failing in some cases. We learned by co-creating a whole bunch of challenges.

Post-pandemic, there is “much more know-how and understanding, out of necessity rather than pure strategic decision-making intent, about the processes, systems and services that help manage and protect customers and the funds…and the whole mechanism around how the reimbursement processes work.”

Call it a recovery, a rebound or a journey of revenge, but pent-up demand in hot markets like South Korea is serving as a precursor to the broader global recovery, and there are new expectations.

“Ultimately, we have to adapt to consumer demand, and rightly so consumer demand in this market is going to require levels of flexibility, or a higher proportion of the population requiring levels of flexibility, than they would have otherwise before that, I didn’t expect that,” he said.

“Merchant Systems and Processes [and] payment service providers like us who handle and handle the money on their behalf, through the network to issuers, have been set up to support this,” he added. “Every crisis creates an opportunity.”

It’s an opportunity with a mission. Cramer pointed to a study that showed 60% of South Koreans are “excited” about the potential of technology to personalize their travel experience.

“I was watching this and I was like ‘OK, 60% is pretty good,'” he said.

And a lot of opportunities to exploit.



About: PYMNTS’ survey of 2,094 consumers for The Tailored Shopping Experience report, a collaboration with Elastic Path, shows where merchants are succeeding and where they need to up their game to deliver a personalized shopping experience.

RadCred announces convenient online methods to login with Mon, 20 Jun 2022 12:03:42 +0000

BURBANK, Calif., June 20, 2022 (GLOBE NEWSWIRE) — According to the Report, it simply indicates the demographic value of the debt and credit market based on the needs of US citizens and households. To meet relevant needs, people tend to opt for online loans. RadCred finally announced that they can facilitate your financial recovery by finding you a reliable source of money thanks to our deep knowledge of the market. With minimal requirements and the unparalleled speed of the entire process, you have the ability to get through the tough times and move forward without a burden on your short-term shoulders. Often, when we least expect it, life throws us a curveball. It is usually the money that is the source of the problem. A number of circumstances can lead to an unforeseen need for cash.

With RadCred borrowers and lenders can connect directly through the lending platform. The more lenders a website has, the easier it will be to get a loan when you need it. Thanks to the efforts made, RadCred now ranks first in this field.

About RadCred

Customers across the United States can use their user-friendly platform to apply for loans for bad credit, payday loans and more. It is a simple process that can be completed in minutes. This is a key consideration as most people apply for emergency loans when they don’t have the time or inclination to fill out lengthy application forms. Overall, apply online no credit check loans on their site is as easy as you could hope. Your application will be submitted almost instantly if you have internet access. The terms and conditions become more restrictive as the loan amount increases. On the other hand, they are not involved in any of this. This article stated earlier that they are just a middleman. Accordingly, only you and the lender can decide on the terms and conditions.

Depending on the type of loan and the repayment period, the APR for personal loans offered on their website range from 4.99% to a lot. For example, the APR on personal loans ranges from 4.99% to 450.99%, while the APR on cash advance loans ranges from 200.99% to 1386.99%. Interest rates on long-term installment loans also range from 6.63% to over 200%. Although the APR is determined by your lender based on various factors, such as your income-to-debt ratio, credit score, credit history, and employment status, the APR is not something you can control. If in doubt about the APR, you should always contact your lender. They have a minimal set of requirements that almost anyone can meet to get a loan in a snap. In addition, you must know and respect the conditions set by the lending institution you choose. With over 60 easy lenders on our network, you have many options to find a lender whose terms and conditions are simple to respect.

As a result, they guarantee fast payment transfer for all loan types, allowing you to reap the rewards of the loan immediately. RadCred’s quick approval and transfer process is a big hit with its customers as they need emergency loans quickly.

Assistance from them is completely free to apply for a private loan. However, taking out a personal loan or personal loan has associated fees. The interest rate is a factor to keep in mind. The interest rate is the amount you pay to borrow money from a lender. When you repay your loan, you will be responsible for both the amount borrowed and the interest the lender charged you. A fixed interest rate or a variable interest rate may be charged. It is important to note that fixed interest rates mean that your interest rate will not change throughout the loan. Interest rates on a variable rate loan can fluctuate over time.

About the online loan process

Some quick cash loan lenders may also charge origination fees. The loan origination fee is a one-time fee intended to cover the costs of administering the loan. A percentage of the loan amount (usually between 1% and 5%) or a fixed fee may be charged as an origination fee.

Also, don’t forget about late fees and prepayment penalties. If you are late with a loan repayment, you can expect late fees from your lender. If you want to pay off your loan early, auto lenders may charge you a fee to make additional payments. Check the terms of the loan to see if the lender charges any of these fees when you receive loan offers.

To obtain a loan of Radcred, there are not many requirements. To qualify, you must have a stable job and a stable income. Therefore, if you do not meet this criteria, they cannot help you. To qualify for a loan from us, you must have an active bank account and be in good standing. You cannot even complete the application if you do not have an active bank account.

RadCred is a service that connects people who need a loan with people who can provide it. To apply for a loan, answer a few simple questions from the comfort of your own home and you’ll be on your way. Payday loans and personal loans are available through RadCred for those in need.

Their website offers a wide range of loan options. Payday loans, bad credit loans and cash advances are the most common. Payday loans are generally the quickest and least demanding to obtain. On our side, we benefit from a low interest rate.

A price range of $100 to $5,000 is listed on their website. To help you, they have assembled a team of over 60 bad credit auto lenders from across the country. Loans between $300 and $500 are the most common on the Radcred websiteand they are also the fastest to obtain.

For more details, visit: RadCred Official Site

Disclaimer: RadCred is not a lender and is only a platform that connects borrowers and online lenders and online lenders are subject to credit score verification of borrowers for approval of the loan.

		Small Payday Loans Online No Credit Check
		Sat, 18 Jun 2022 17:29:25 +0000


Small payday loans online without a credit check

Get 100% cash advance online even with bad credit. The best service for fast loans!


A credit check can sometimes be applied to some payday loans as well. A credit check is generally not required for many payday loans, but may be requested if the loan is over $10,000. Some lenders require applicants to have a driving record. However, others do not. Your credit score will almost certainly be higher anyway, and your current credit score may not be worth the cost of the loan. Some payday lenders require a social security number or other biometric information for their borrowers. Despite the credit check, you can take small payday loans online without credit check and do it so easily today. You can do it faster and more cost effectively.

Other providers have no minimum deposit or other payment requirements. Once you’ve approved, you’ll receive a confirmation screen and a check in the mail. If your bank hasn’t approved any of your credit cards or you’re a victim of identity theft, you can always contact the lender and ask them to review the information. If the seller hasn’t sent you funds for the debt amount by the time you get to the bank, it’s common for them to simply refund the deposit and return nothing to you.

You will not be charged any fees for refunding the money. Keep in mind that when someone is in a temporary financial crisis, they have no way to recover a cash advance. You won’t be penalized by the lender if you don’t get the promised $300 within seven to ten days of approval. This delay in getting your money is an unfortunate thing for many. If you are able to receive money that you need urgently, use cash advances available for immediate use. These loans offer an inexpensive way to get your money now without having to wait for a credit check. To put it bluntly, it is small online payday loans no credit check and you can take it today. This type of loan is easier to obtain than a bank loan with a lot of paperwork and time.

Why are these types of loans so popular?

Lenders pay a lot of attention to ensuring that the borrower will be able to pay the repayment. With instant loans, you can pay off your payday money in as little as a few minutes. Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor. If you are considering getting a loan, you can always get a small payday loan online without a credit check and it will always benefit you.

Online Payday Loans, Banks, and Savings Accounts Online loans are available from a variety of credit unions, small and large businesses, and banks. Online loans generally make it easier to get cash advances approved, but there are a few downsides. They can be expensive if you have a large amount, you need to pay early, they can have high interest rates, and they require more frequent paperwork and security such as ID or a guarantor.

But online payday loans offer the opportunity to earn more money as an employer with these online loans. You don’t need to have a perfect work history. Some companies allow employees to pay their payroll taxes online with a credit statement and the government will take care of receiving their pay online. If you find yourself in an emergency situation that requires cash, you may want to consider using a cash advance to get cash quickly if you are $500 short or need to get out. quickly from a bad situation.

Monthly fees may be waived for some borrowers, but the loan is generally expensive. The credit scores that companies use to assess the risk of using these types of loans generally do not have the same precision that is used when reviewing a credit score.

Types of loans

The other way to make money fast is through payday loans and cash advances. In this situation, you have a much more limited time to pay off the debt or withdraw the funds as quickly as possible. The two most common types of payday loans you come across are cash advances and withdrawals. Cash Advance Payday Cash Advance is a quick way to get cash.

This type of loan is often used to collect charges from your credit card account or to pay a loan from an ATM. Usually, cash advances and cash advances are not used for personal purposes, but for the purpose of withdrawing your money quickly. This type of payday loan gives you up to 10% of the loan principal amount at cash advance rates. Many cash advance lenders charge a higher interest rate than you can receive on your credit card. However, the interest rate is usually very low and often less than 5%. Also, you don’t have to worry about checking your credit history, that’s not the case here, where you can get payday loans no denial direct lenders only and this best way to get quick cash already today.

You won’t have a full credit history before getting a loan. However, instant loans are designed to make it easy for you to pay off debt quickly. The best rate can be made possible with a cash advance loan. Other instant loans Instant loans can be used to make payments on credit cards, student loans or mortgages. You will have an instant interest rate to repay the loan.

New survey reveals lessons for selling services — and succeeding — to an increasingly multicultural America Thu, 16 Jun 2022 14:48:00 +0000

NEW YORK, June 16, 2022 /PRNewswire/ — The 2020 census marked a shift toward a multicultural America: While white (non-Hispanic) Americans still made up the majority – 61.6% – of the US population, population growth over the decade was almost entirely driven by non-white minority groups, with Hispanics/Latin Americans alone accounting for more than half of the growth between 2010 and 2020.

(PRNewsfoto/The Conference Board)

Spending on symbols of success is universal, but the definition of success varies in an increasingly multicultural America.

“More than half of young Americans now identify as non-white,” said Ivan Pollard, Center Manager, Marketing and Communications at The Conference Board. “But that doesn’t mean ethnicity – or any other facet of demographics – is fate. Rather, brands succeed in capturing the complex intersection of race, ethnicity, age, gender, income, etc., which define consumer identity – and form consumer choice.”

Access the latest research in The Conference Board Multicultural Consumer Survey series. To understand How ethnic identity is reflected in service purchases, the project surveyed 2,000 multicultural U.S. households to uncover their consumer attitudes, preferences and behaviors, including identity expression and sustainability considerations in travel decisions. This is the second in a series of multicultural consumer surveys, following the comprehensive 2021 survey goods report.

“The data we collected provides insight into how every business should think about engaging their customers in a demographically diverse America,” Tadpole added. “In the realm of services, these diverse attitudes impact everything from travel plans and leisure activities to restaurants, healthcare, financial services, education, childcare, pet care, fitness, etc., including online and physical shopping channels.”

The results of this latest research are presented in a summary report, Multicultural Consumer Survey: Servicesand the accompanying deep dive on Closing the Gaps in U.S. Financial Services. Among the key information:

  • The rise of commerce as an expression of identity. Growing cohorts of Americans are likely to use services to express their ethnic identity, especially high-income Black and Latino consumers and people under 35 in all minority groups (with money to spend ). This leaves companies from a wide range of service industries – including not only digital media, restaurants, travel, personal care and out-of-home entertainment, but also education and fitness, among others – well positioned to consider refining their customer experiences. to respond to the desire for ethnic expression of their multicultural audience.

    “In this era of self-expression, brands with a holistic and committed diversity strategy can tap into consumers’ desire to express their ethnic heritage through their purchases,” said Denise Dahloffsenior researcher at the Conference Board. “It can help brands reach young consumers in particular, including those from traditionally less expressive cultures who are acculturated to the United States and even young white people who, surrounded by diverse peers, seem inspired to express their own cultural identity. .”

  • Spending on symbols of success is universal, but the definition of success varies. Spending on services, including education and financial investments, can be partly determined by what consumers view as success in life. Yet, no definition of success is universal. For example, for Latino consumers, owning a home and business and sending their kids to college means more success than it looks for other consumer segments. For Asian consumers, who generally favor higher income groups, the financial achievements are relatively greater. This is reflected in their increased use of banking, investment, insurance and financial advisory services compared to other groups.

  • Lack of financial services. As explored in our in-depth financial services report, low- and middle-income Black and Hispanic respondents are generally more likely to use various forms of non-traditional financial services compared to their Asian and white peers at similar income levels. These non-traditional services, from payday loans to cryptocurrencies, often carry substantial risk.

    “Financial service providers have significant leeway to increase their engagement with Black and Latino consumers, even among high-income consumers in these groups,” said Conference Board Chief Economist Dana Peterson“For financial institutions, closing these gaps can mean reaching a lucrative market currently untapped by banking services.”

  • Non-white Americans, especially those in higher income groups, express the most interest in environmentally friendly transportation for travel, as well as accommodation—providing tour operators with a clear focus of sustainable options. In general, higher-paying consumers within a given racial and ethnic group are more open to calls for sustainability than their lower-paying counterparts.

  • What consumers value most about offline and online shopping differs by age, income, and ethnicity. This information can help retailers refine their channel design, targeting, and messaging. For example, for younger shoppers, brick-and-mortar stores provide a forum for socializing, while older shoppers primarily enjoy the traditional conveniences of stores to inspect products in person and instantly acquire items.

    The ability to save time by shopping online is particularly appealing to Latino and Asian shoppers. The entertainment aspects of a brick-and-mortar store are more likely to appeal to the Latino segment as well as younger white shoppers, and the opportunity to socialize with family/friends appeals to general black shoppers as well as generally younger consumers. especially non-white consumers. These preferences may also be related to other factors such as place of residence and marital status.

About The Conference Board
The Conference Board is the member-driven think tank that provides reliable information about what lies ahead. Founded in 1916, we are a nonpartisan, nonprofit entity with 501(c)(3) tax-exempt status in the United States.



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SOURCE The Conference Board

Consumers seek $8 million in attorney fees in payday loan case Wed, 15 Jun 2022 00:54:00 +0000
By Joyce Hanson (June 14, 2022, 8:54 p.m. EDT) – Consumers who sued the owners of the now defunct payday lender Think Finance have asked a federal judge in Virginia for more than $8 million in legal fees and expenses. attorney following his preliminary approval of their $44.5 million class action settlement.

The preliminary settlement follows years of litigation in multiple jurisdictions and stems from allegations that Think Finance used businesses owned by Native American tribes as fronts to charge excessively high interest rates, according to the consumer petition Friday for $8.3 million in attorney fees as well as $20,000 in service awards to each of the 13 named plaintiffs.

“The lawyers of the group have taken this case…

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The global payday loan market is expected to grow by USD 8.4 billion during the period 2022-2026, accelerating at a CAGR of 4.34% during the forecast period Mon, 13 Jun 2022 13:23:00 +0000


Global Payday Loans Market 2022-2026 Analyst is monitoring the payday loans market and it is poised to grow by USD 8.4 billion during the period 2022-2026, accelerating at a CAGR of 4. 34% over the forecast period.

New York, June 13, 2022 (GLOBE NEWSWIRE) — announces the publication of the report “Global Payday Loans Market 2022-2026” –
Our Payday Loans Market report provides comprehensive analysis, market size and forecast, trends, growth drivers, and challenges, and vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis of the current global market scenario, latest trends and drivers, and the overall market environment. The market is driven by a growing awareness of payday lending among young people, an increase in the adoption of advanced technologies by payday lenders and the basic eligibility criteria are lower than other services and financial institutions.
The payday loans market analysis includes type segment and geographical landscape.

The payday loan market is segmented as follows:
By type
• In-store payday loans
• Online payday loans

By geographical landscape
• North America
• Europe
• South America
• The Middle East and Africa
• WE
• China
• UKI Japan
• Germany

This study identifies the growing number of payday lenders as one of the major reasons for the growth of the payday loan market over the next few years. Moreover, the growing adoption of online payment methods and increased spending on luxury goods among the adult population will lead to significant demand in the market.

The analyst presents a detailed picture of the market through study, synthesis and summation of data from multiple sources by analysis of key parameters. Our payday loans market report covers the following areas:
• Sizing of the payday loan market
• Payday loan market forecasts
• Industry analysis of the payday loan market

This robust vendor analysis is designed to help clients improve their position in the market, and in line with that, this report provides detailed analysis of several leading vendors in the Payday Loans market including AARC LLC, Axis Bank Ltd., Citigroup Inc., Creditstar Group AS, CS SALES LLC, DJS UK Ltd., Enova International Inc., FloatMe Corp., GAIN Credit Inc., GC DataTech Ltd., Kotak Mahindra Bank Ltd., KrazyBee Services Pvt. Ltd., Maxed Up Media Ltd., Payday America Inc., Payday Loans Ltd., PDL Finance Ltd., Speedy Cash, Upward Finance Ltd., Western Circle Ltd. and Whizdm Innovations Pvt. ltd. In addition, the Payday Loans Market analysis report includes insights into upcoming trends and challenges that will influence the growth of the market. It’s about helping businesses strategize and take advantage of all the growth opportunities ahead.
The study was conducted using an objective combination of primary and secondary information, including contributions from key industry participants. The report contains a comprehensive market and vendor landscape in addition to an analysis of major vendors.

The analyst presents a detailed picture of the market through study, synthesis and summation of data from multiple sources through analysis of key parameters such as profit, price, competition and specials. It presents various facets of the market by identifying the major industry influencers. The data presented is comprehensive, reliable and the result of extensive research – both primary and secondary. Technavio’s market research reports provide a comprehensive competitive landscape and in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.
Read the full report:

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.


CONTACT: Clare: US: (339)-368-6001 Intl: +1 339-368-6001
Nova Scotia UARB Cuts Payday Loan Interest Rates Tue, 07 Jun 2022 17:53:30 +0000

A payday lender on Wyse Road in Dartmouth on Tuesday. Photo: Zane Woodford

Payday lenders will get a smaller share of Nova Scotians’ checks later this year.

In a decision released Tuesday, the provincial Utilities and Review Board (UARB) lowered the maximum interest such lenders can charge from $19 on a $100 loan to $17, effective Sept. 1. As of January 1, 2024, this number will drop. again, at $15.

Currently, Nova Scotia’s maximum is the second highest in Canada, with Newfoundland and Labrador capping interest at $21 on a $100 loan. Saskatchewan and Manitoba provide $17 per $100. At $15, Nova Scotia would equal British Columbia, Alberta, Ontario, Prince Edward Island and New Brunswick.

The move to $15 per $100 will raise the annual interest rate down approximately 390% (assuming a two-week term). If that rate sounds criminal, that’s because it is, but payday lenders in Canada are exempt from the Criminal Code provision interest capped at 60% per annum.

Nova Scotia was the first province to regulate payday loans, and the UARB first held a public hearing on the loans in 2008, choosing to set interest at $31 per $100 (about 800% per year). Since then, he has periodically reviewed the regulations, each time reducing the interest. Most recently, he held a hearing in 2018 and lowered the interest to $19 per $100.

In his decisiona panel of three council members – vice-chair Roland Deveau and members Richard Melanson and Jennifer Nicholson – summarized a hearing held in March 2022, when the council heard from members of the public, consumer advocates and payday loan industry representatives.

These representatives argued that lower rates would eliminate the payday loan industry. Patty Ko, a lawyer for the Canadian Consumer Finance Association (CCFA, formerly known as the Canadian Payday Loan Association), argued that the pandemic has already had a significant effect on the industry.

“Given the significant negative impact of the COVID-19 pandemic, she advised that now was not the time to make significant changes and urged that the maximum cost of borrowing of $19 per 100 $ be maintained,” the board wrote.

Patrick Mohan, president of the Canadian Association of Independent Payday Lenders, said rates should go up.

“Mr Mohan suggested that instead of lowering or maintaining the current maximum cost of borrowing, it should be increased to allow smaller operators to offer their product,” the board wrote.

“While his presentation provided anecdotal evidence, there was no verifiable data or expert opinion evidence to support the proposition that the maximum cost should be increased. The Council rejects this proposal.

The pandemic has led to a decrease in payday loans issued and repeat customers, but the board noted there was an increase in the percentage of default.

“The data shows, for the pre-COVID period, a decline in the number of loans from 2015 to 2019 of around 8%, although the decrease in the total value of loans was only around 3%”, wrote the board. “The data further indicates that the number of different companies offering payday loans in Nova Scotia and the number of retail outlets remained stable from 2017 to 2021, despite a reduction in the maximum cost of borrowing and a pandemic.”

The board ruled there was no reason Nova Scotia lenders couldn’t make a living charging the same rates as most countries.

“The CCFA has provided no evidence, or satisfactory explanation, as to why this would not be the case,” the board wrote. “While there are undoubtedly regional differences in overall population, demographics, income and other financial criteria, the consumer profile of the product should, due to the nature of the product, be relatively similar across the country. The industry as a whole should be able to serve this demographic at relative parity with the rest of the country.

Although it did not side with industry, the council wrote that it was considering the impact of the pandemic on business.

“Without the impact of the COVID-19 pandemic, the board would have been inclined to immediately move to the maximum cost of borrowing of $15 per $100,” the board wrote. “The Board is of the view that a phased approach to reducing the maximum cost of borrowing, to a level where Nova Scotia consumers enjoy the same rate protection afforded to most other countries, is reasonable in the circumstances.”

The board also reduced the maximum interest rate on post-default arrears to 30% from 60%, and left the default penalty at $40, the highest in the nation.

The council noted that many members of the public had called on it to abolish payday loans altogether or adopt regulations similar to those in Quebec, where a 35% annual interest cap effectively ended the practice. .

The council endorsed the provincial government’s position on this issue, stating that “the elimination of the regulated payday loan industry in Nova Scotia would reduce the short-term credit options available to consumers.”

“It would also increase the presence of unscrupulous and unregulated lenders, especially unlicensed online lenders, which could lead to the unfortunate consequences of innocent borrowers accessing such unregulated loans over the internet,” the council wrote.

The board will then review payday loan rates in three years, unless “a critical issue comes to the attention of the board in the interim.”

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]]> AdvanceSOS Awarded Best Financial Services Provider in Miami, Oklahoma Wed, 01 Jun 2022 11:32:09 +0000

AdvanceSOS Wins Best Online Financial Services Provider in Miami, OK in 2022

MIAMI, Oklahoma /ACCESSWIRE/June 1, 2022/ Among many other nominees, Advanced SOS overcome various criteria in customer service. He championed speed of service, customer experience, loan rates and approval rates. This distinction marked its excellence in providing top quality loan connection services. He did this with the help of his valued customers, who say AdvanceSOS ranks first in meeting the needs.

“We are thrilled to announce that AdvanceSOS has been recognized as the best financial services provider in Miami, OK,” said Nick Wilson, Founder and CEO of AdvanceSOS. “It’s a real honor to know how Miami, OK gives value and validation to our hard work,” he continued.

The reward

Price interviewed men and women between the ages of 21 and 50 from Miami, OK. Participants determined which of the nominees won based on the judging criteria. Once the survey was finalized, the winning contestant received the accolade.

Entry evaluation

TOP Financial Services Provider judges in Miami, OK, evaluated the applicants based on specific criteria. Each candidate was evaluated on their speed of service, customer experience, loan rates and approval rating. After which, each contestant’s score was totaled to determine the winner of the award.

Speed ​​of service

Service speed focuses on how quickly an organization delivers its services to customers. Survey participants rated how quickly customers can get loans with each applicant. From application to publication, the response time to customer needs was at the center of these criteria.

Client experience

Customer experience is about anything that affects how a customer thinks and feels about the candidate and their services. For this criterion, survey participants asked how the candidate treats their customers. They looked at all interactions, direct and indirect.

Among the interactions rated by participants was customer experience with the website. The panel also looked at how each candidate dealt with customers concerned about services and products.

Loan rate

For this criterion, survey participants were asked about each candidate’s loan rates. First, participants were asked to see how low or high each candidate’s ratings were. But they were also asked to inspect how the loan compared to the quality of service each applicant provides to their clients.

Approval rate

Approval rates determine how each candidate ranks against each other. Thus, each participant in the survey was asked to rank the candidates according to their preference.

The AdvanceSOS team

CaphIQ, Wednesday, June 1, 2022, Image from press release

AdvanceSOS is an online financial services provider that helps people looking for the best payday loan deals. Over the years we have built our network of trustworthy lending partners. All of our partners follow strict policies and have licenses, ensuring customers can use our platform with confidence.

Inspired by our founder and CEO, Nick Wilson, our main goal is to help people get the money they need. With just one simple and short online form, we can immediately inform you of your best loan offer. All of our services are FREE, so you can easily apply for a loan anytime, anywhere.

AdvanceSOS owes its success to its team consisting of the following persevering people,

Julie Collins, Business Development Manager
Ajalen Holley, Partner
Dikshita Mehta, Customer Service Manager
Jake Walker, Content Manager
Amanda Girard, Financial Writer

Media Contact:

AdvanceSOS, LLC
Dikshita Mehta, Customer Service Manager
[email protected]
+1 (918) 544-52-99


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Debbie builds the first rewards platform to incentivize individuals to pay down their debt Thu, 26 May 2022 20:43:56 +0000

Credit card use has grown exponentially since its introduction in the 1970s. While it has taken our consumer-driven economy to new economic heights, our reliance on credit has left us with bad financial habits. More and more Americans are in more debt than ever, with no way out of their financial hole. Debt is so prevalent in our society that pizza companies offer a buy-it-now, pay-later option to order via their online payment. Frida Leibowitz, Rachel Lauren and Maxime Fourmault help Americans reduce their addiction to credit with Debbie before they overdose financially. Debbie is a “habit-changing rewards platform” that leverages behavioral psychology to create financial products that empower users to get out of debt and into a healthier financial future. The Miami, Florida-based startup has raised $1.2 million from One Way Ventures, BDMI, TA Ventures, Village Global, Green Egg Ventures, Liquid2 Ventures, If Then Ventures, Dipanjan Bhattacharjee and several other angel investors.

Adam Moelis, co-founder of Yotta and angel investor in Debbie, says, “Many FinTech apps now offer financial wellness tools, but they often focus on short-term relief rather than habit building. sustainable finances. Debbie uses behavioral psychology concepts to create a personalized, engaging and accessible journey to debt freedom for those struggling with a perpetual cycle of debt, dramatically increasing their chances of long-term success.

Dipanjan Bhattacharjee, COO of Nirvana and angel investor in Debbie, says, “I have known Frida over the years and seen how smart and passionate she can be to get things done. I was very impressed with Debbie’s vision and the way Frida and Rachel wanted to challenge the status quo of debt consolidation loan offers. The rare combination of relevant experience, good skills and a positive attitude is what convinced me to invest and help in any way possible.

America’s reliance on debt has only gotten worse over time. As consumers are constantly in demand throughout the day, the temptation to spend only increases proportionally. Credit cards are incredibly useful for bridging the gap when you’re having cash flow problems or wanting to rack up rewards points, but they’re a double-edged sword once the bill comes due. Many Americans carry a balance each month, which puts them in a worse situation due to exorbitant credit card interest rates. (There’s also the common financial misconception that keeping a balance is best to improve your credit score, which isn’t true. You should aim to pay off your balance every month!) Have a healthy use of the credit card is crucial for having a high credit score. , which can impact your ability to access car or home loans and whether or not a potential employer will hire you. As US credit card use worsens, there is a lucrative market to help Americans get out of debt.

Consumer credit card debt has reached 841 billion dollars in the first quarter of 2022. With such massive debt, it is unlikely that every user will be able to pay off their balance quickly. Payday loan companies take advantage of individuals and families in financial difficulty, lending them money at interest rates that would make credit card companies blush, being greater than 600% in some cases. The stigma of debt can affect someone so deeply psychologically that they begin to no longer be a functioning member of society. Leibowitz, Lauren and Fourmault can intervene with Debbie before it’s too late for individuals and families in debt.

Debbie offers its users a rewards platform for paying off debt, putting them on the path to having positive net worth and cash flow. The startup encourages positive and constructive behavior with financial incentives for users to develop good financial habits. The founders believe that the technical implementation of their solution is easy; but the real challenge is understanding its users’ relationship and habits with money and integrating those lessons into the core of Debbie’s platform. Debbie uses cognitive behavioral therapy and behavioral psychology to help users better understand the drivers of their drinking habits. By drawing the user’s attention to these spending habits through the app, the startup is able to design real-time reward actions to gradually change consumer behavior.

The startup’s current offering puts it on a path to offering future products and services that simultaneously incentivize debt repayment and savings, and more importantly, help users build long-term wealth through access to property, investment and retirement. When it comes to credit specifically, the data Debbie collects can provide a more dynamic, real-time perspective of the credit card user, which can be helpful to lenders in deciding who they approve for loans in the form of mortgage or other loan products. Leibowitz herself has already been in deep debt, both individually and her family. As much as she is building a product for others as her customers, she is building a tool that she and her family wish they had as they financially navigated America. Fortunately, her partnership with her co-founders makes Debbie’s massive potential impact a reality as the days go by.

CEO Leibowitz says, “I grew up in a single-parent, immigrant, uneducated family that didn’t have access to financial education and always struggled with debt. As an adult, I fell into the same debt trap and racked up $15,000 in credit card debt at age 21. Hoping to make a difference for others, I spent my early career days in digital consumer lending and had the unique opportunity to sit in the seats of borrower and lender simultaneously. I grew increasingly frustrated that our current financial system is quick to topple us when we misbehave, but doesn’t do a good enough job of celebrating our victories.

Leibowitz leads the founding trio as CEOs. She graduated from NYU’s Stern School of Business with a degree in business and political economics and was previously a member of the core team at Goldman Sachs Credit Risk and Product, working on the company’s consumer credit card product. , Marcus. Lauren, COO of Debbie, earned her degree in Business Economics and Policy from NYU’s Stern School of Business and previously worked as a venture capitalist at BDMI and did equity research at Credit Suisse. The team is completed by Fourmault, a graduate of the Private School of Computer Science (EPSI). A computer science graduate, he previously worked at Earnest as a management engineer and has previous entrepreneurial experience. These three combine their deep financial background and temper it with a healthy respect for mental health as entrepreneurs. Together, they will get Americans and their families out of debt and create wealth for generations to come.

Instant Personal Loans vs Other Personal Loan Options Wed, 25 May 2022 09:46:00 +0000

Trying to decide which personal loan option is best for you? Should you get a credit card or take out an instant personal loan? Personal Loan Apps are here to help you learn more about your personal borrowing options!

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H1: Instant personal loans vs. other personal borrowing options

How do credit cards work? Are instant personal loans different from personal lines of credit? what is a online loan application? These are all valid questions about personal borrowing. It’s good to be aware of your options so that when you need to take out a loan, you know which products and services best suit your needs.

Personal borrowing is an ever-changing landscape and we’re here to help you navigate it. Here’s our ultimate cheat sheet on all your personal borrowing options with everything you need to know about mortgages, payday loans, secured personal loans, and more!

H2: Instant Personal Loans

In today’s advanced digital age, financial services are becoming increasingly accessible and cutting-edge. Instant Personal Loans are one such product of the digital renaissance in the lending industry. While the traditional loan application and approval process took days to weeks, instant personal loans only take a day or two.

The fast disbursement makes it ideal for anyone in need of urgent funding. Moreover, the simple and straightforward procedure of instant personal loans along with the absence of any collateral make them a top choice for those looking for small loans.

Instant personal loans are granted by banks, non-bank financial companies and personal loan applications. As an online lending app, we provide easy access to loans for anyone with a smartphone.

H2: Credit cards

Credit cards are a popular and ubiquitous form of personal borrowing. There are a wide variety of credit cards available in the market and each of them has its own conditions and features. However, the general system remains the same. A credit card has a preset limit on the amount you can borrow. You are charged for anything you buy using the card and you must repay the balance in full each month.

If you have an outstanding balance, you will have to pay interest on it. The interest rate differs depending on the credit card company. Different lenders also have different rules for going over your credit card limit.

Compared to instant personal loans, credit cards have a short repayment period. So, if you need more time to repay the loan, applying for a personal loan online or through an app is a better option. Additionally, credit cards may have annual maintenance fees, unlike instant personal loans.

H2: Traditional loans

Traditional loans allow you to borrow a fixed amount for a fixed term with a predetermined repayment schedule. Often borrowed money must be used for a specific reason. It can look like a home loan, car loan or mortgage. These loans tend to be secured loans and require you to put up an asset as collateral.

On the contrary, instant personal loans are unsecured loans and the money can be used at your discretion.

H2: Personal line of credit

A personal line of credit is a revolving, flexible credit account that lets you borrow money up to a limit, without having to borrow the full amount all at once. You only pay interest on the amount borrowed. These often have maintenance fees and are more expensive than traditional secured loans.

These options often have variable interest rates. While most instant personal loans, including those granted through a personal loan app, have a fixed interest rate. This makes it easier to calculate future expenses that you will incur due to the loan.

H2: Payday Loans

Payday loans are short term unsecured loans. They can be taken for a few days and reimbursement is expected once you receive your salary for that month. However, they often have high interest rates and hidden fees. Thus, we recommend safer borrowing options such as traditional loans and instant personal loans.

If you are considering taking out a loan, especially in a financial emergency, or have a below average credit history, Instant Personal Loans Online offers you a fast application process, holistic approval standards and rapid disbursement of funds.