nytimes.com/2022/08/06/business/lenders-retailers-money-paycheck.html
At any given time, millions of workers are overdue on at least one bill. But it is the rare employer that is late in cutting its paychecks or that bounces them altogether. Therein lies an opportunity for lending companies like Kashable and OneBlinc. Put yourself at the front of the repayment line by drawing directly from those reliable paychecks.

The federal government allows employees to split their paychecks. It's possible to do this with terms like “allotment’ and “split deposits.” It's a way for employees to pay for goods or repay debt within a few years. It can also be a way to avoid paying for goods that they don't need.

Since 1889, members of the U.S. military have been able to pay bills and transfer money via what’s known as an allotment system. Some retailers include the cost of their payment plans in their prices and don’t technically charge interest, while the lenders charge up to a 35.99 annual percentage rate.

The pay-via-paycheck process works nowadays. Companies urge or require customers to use it when setting up their accounts. “You can be you and own your life with a better way to buy,” sounds the refrain at Purchasing Power. OneBlinc echoes this theme.

It says that it offers “socially responsible credit” and that its credit is “for people who work hard and need help making ends meet.” Read between those lines, and you get a sense of who the desired customer is and is not.
Posted by BI bizpoke
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