The entire idea of a payday loan is necessarily high risk for reasons discussed <i>ad nauseum</i>, and that dictates the interest rate.<p>There would be no payday loans (smallish quantities of cash for short periods) without commensurately high interest rates. There&#x27;s a very real risk of default, and smaller amounts of cash are not economical to process. (Have yet to see one that allows you to borrow &lt;$100)<p>Put another way, imagine you&#x27;re a VC type and want to disrupt payday loans. You do this by loaning money at more reasonable APRs - say something like 15%. On a one week loan at $300, your profit isn&#x27;t even 25c. Even with economies of scale, even with all the automation and tech SV can muster, this operation won&#x27;t even pay its own infrastructure bills. One default and you&#x27;ve wiped out weeks of profit.<p>Removing the option removes a useful and occasionally necessary tool for emergencies.