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NAB, BPAY quietly straight back pay day loan killing API

NAB, BPAY quietly straight back pay day loan killing API

Earnd overlay service accesses wages because they accrue.

The occasions of cash-strapped workers being obligated to max their charge cards and take out pay day loans at interest levels above 20 % could quickly be numbered, all compliment of a modest API that pits usage of pay-as-you-earn wages against rapacious lending that is unsecured.

In a move that competes straight against profitable charge card interest and interchange charges, NAB and BPAY have quietly backed a software deliberately designed as being a temporary loan killer that harnesses use of the New Payments system via BPAY overlay solution Osko to expedite use of pay-in-arrears. Continue reading