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Many FINTECH Startups are sanctioning Payday Loans[1] within a couple of days without any hassles. On can get loans up to several lacks ranging from a minimum ticket size to maximum ones. Even the documentation requirement & Due – diligence is managed by Fintech Companies.
They are very popular in western countries & Asian continent & intermittently used by BLUE – COLLARED workers who used to live from one paycheque to another paycheque.
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Also, Read: Peer-to-Peer Lending Platform Safe for Investment and Borrowing.
In India, payday loans are at a nascent stage and just taking off with a host of startups like Rupee Lend, money in minutes, Quick Credit, Money4You, etc. It is relatively a New Market in India. But payday loans in India will be a different proposition, say FINTECH startups.
Most payday loan operators do not have a non-banking license but make use of the services of NBFCs for loan disbursal by a tie-up with them for gaining authenticity in the market, they generally these days are ending up getting their own license for thriving in the market.
Read More: Learn all about NBFC Advantages.
Experienced Finance and Legal Professional with 12+ Years of Experience in Legal, Finance, Fintech, Blockchain, and Revenue Management.
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Red Herring Top 100 Asia enlists outstanding entrepreneurs and promising companies. It selects the award winners from approximately 2000 privately financed companies each year in the Asia. Since 1996, Red Herring has kept tabs on these up-and-comers. Red Herring editors were among the first to recognize that companies such as Google, Facebook, Kakao, Alibaba, Twitter, Rakuten, Salesforce.com, Xiaomi and YouTube would change the way we live and work.
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