Bing ban does not stamp down short-term lending that is payday

Bing ban does not stamp down short-term lending that is payday

  • Lending apps are specially popular in developing countries such as for instance Nigeria, Asia and Kenya
  • The epicenter is Kenya, where an explosion in mobile lending and government that is little has made Bing the arbiter of which apps customers can decide

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

But five months later on, payday-style applications providing money that is fast one or a couple of weeks remain simple to find in a lot of nations on Bing Enjoy, the company’s marketplace for Android os apps. Some cost interest levels that will surpass 200% annualized.

Lending apps are especially popular in developing nations such as for example Nigeria, Asia and Kenya, where thousands of people don’t have actually bank reports or bank cards but do have mobile phones. View More Bing ban does not stamp down short-term lending that is payday