Study reveals slick tricks payday loan websites use to entice borrowers - MSE News 7 March 2019 at 3:50PM in Loans 8 replies 1.3K views

Former_MSE_Callum

Payday loan and other high cost credit firms use brightly coloured buttons, simple forms and images of happy people on their websites and apps to stop would-be borrowers dropping out of the application process, new academic research reveals...

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'Study reveals slick tricks payday loan websites use to entice borrowers'

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[Deleted User]

Payday lenders try to make their products appeal to customers.

Shocking.

dealer_wins

Oh for god sake this is getting pathetic now!

Clive_Woody

"brightly coloured buttons, simple forms and images of happy people on their websites and apps "

So very much like the companies that MSE provides referral links to and makes money from then :money:

Paul_Herring

A study by researchers from Durham and Newcastle universities...

Which brings up the question of who was funding this 'research.' (Press release not linked to in the MSE article I notice. Again. Research link.)

Turns out it's the Economic and Social Research Council. (So you and me then.)

And how long before we start getting demands for these companies to stop doing what they're doing?

And how much longer after that the remit will stray from payday lenders elsewhere to, say, referral sites or any other website that's..

Oh.. squirrel!

D_M_E

Somebody trying to make a name for themselves and get a better job in a niche market?

It's not just websites and apps, they've been doing the same things for years on television adverts as well.

One-Eye

Durham and Newcastle universities should be nominating these payday loan companies for "Website of the Year" awards as it seems they are so well designed and easy to use. Then maybe other companies (eg. Ryanair) should take a look and modify their own websites and the average consumer would benefit greatly.

MEM62

I am not so sure that the borrowers need much enticing.

Voyager2002

Compare this with the process of making an additional payment into your SIPP: a dreadful off-putting form that you have to print and then complete one letter at a time, and then post back. Shame on you, Fidelity.