This article is very misleading when it talkes about interest rates.<p>Look at the pictures of the app on google play, one of the example loans is borrow 3500, repay 3500 + 384 4 weeks later.<p>That is only 11% &#x27;interest&#x27; , but it is over 1 month instead of 1 year as we commonly call interest. So really, the rate is more like 130%+.<p>This is not radically different than a payday loan which will typically charge 10$-20$ fees per 100$ borrowed.