Eliminating payday loans and overdraft fees for 2.5MM employees, with Matt Kopko of DailyPay
The Fintech Blueprint
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Payday Lending
The average paiday loan is about 375 dollars in size. The average person will end a brolling over eight times, and before they're done, paying 520 dollars in interest and fees. And the general economics on payday loans are just herendis. It's essentially forty five dollars and in fees and interests every two weeks. But 500 dollars over, you know, four months, or whatever it is, is just unfathomable.
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