Instant small loans via text message
The EU is displaying innovation in many ways, and this one really struck me. They are standardising credit across the EU, but the mention of this new instant loan via text intrigued me.
Consumer loans market opens to competition
The new legislation covers loans from €200 to €75 000. It does not cover mortgages and charge cards. The lower limit was set to cover quick loans made by mobile phone text messages. This practice, which means money can be transferred to the borrower within 15 minutes, is on the rise and is particularly popular in Sweden and Estonia.
Hi,
we have that in France but in revolving credit domain.
Best regards.
vacher denis
January 23, 2008 at 05:33
[...] Mobiles bankieren in die EU. Consumer loans market opens to competition (via The Bankwatch). [...]
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In India Economic Times, the leading financial newspaper run this story on 23rd Janhttp://economictimes.indiatimes.com/News/News_By_Industry/Banking_Finance_/Armed_with_a_pack_of_cards_fraudsters_take_a_swipe_at_banks/articleshow/2722856.cms
Shalini Amarnani
January 24, 2008 at 02:57
[...] the borrower within 15 minutes, is on the rise and is particularly popular in Sweden and Estonia. Via The Bankwatch. Posted by icontract Filed in [...]
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