Payday loans from an ATM?
Nearly.
Mister Money, which conveniently sells a lot of expensive electronics on its payday lending homepage, has developed a standalone kiosk capable of paying out payday loans on the spot based on an “automated approval methodology.” Welcome to the future.
In the end, a kiosk is probably no more irresponsible a lender than payday lenders themselves. And it isn’t much worse than getting a loan via text message. However, it certainly will make impulse borrowing easier. It also opens up exciting new possibilities for identity thieves and hardware hackers, I imagine.
Have you seen one of these in your local mall yet?
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