An industry where third tier lenders can be the lender of only resort to the poor and the poorly educated. But there’s still a segment of the market which is vulnerable and that’s the payday lending industry. The secret sauce here is that it’s not lending because the workers have already earned the wages. Rather, I reckon it’s the simple ideas executed well that tend to be the ones that take off. That and the fact is that it delivers a public good, which is always good business.

Source: Stuff April 23, 2021 17:02 UTC