Google Blocked Short Term Loans And Applied Cash To The Sea.

In China, such as Na Zha is generally overturned, disturbance of the industry can not calm the cash loan now exits overseas, inevitably touched a nail. According to the media, recently, Google has updated the Google Play developer policy. In the personal loan section of financial services, Google has formulated a new regulation to prohibit the application of personal loans within 60 days and the annual interest rate exceeds 36%.

The new deal shows that for personal loan applications, Google requires developers to disclose the following information in their application metadata: the shortest repayment period and the longest repayment period; the high annual interest rate (APR), which usually includes one year's interest rate plus service charges and other charges, or other similar rates calculated according to the local law; the representative example of the total cost of loans should include all applicable costs.

Google emphasizes that no application allows users to encounter fraudulent or harmful threats to financial products and services. The company does not allow applications to promote personal loans that are fully repaid within 60 days or less time from the date of loan issuance. In addition, in the United States, personal loans that provide or publicize annual interest rates (APR) to or exceed 36% are not permitted.

As we all know, in this year's CCTV 315 evening, the high interest rate short-term cash loan (also known as the "714 artillery") was exposed, and then the regulatory authorities began to renovate it. Under the background of strict supervision in China, these cash loan platforms began to focus on overseas.

There is a view that Google, as one of the world's top mobile phone operating system providers, owns the Android mobile operating system, so the launch from Google level will play a role from bottom to bottom, and the Google update policy will devastate many cash loan platforms trying to cash in on the sea.

However, the so-called "high road", the magic is tall, a tenacious vitality, such as small strong general cash loan apparently will not sit still. Insiders pointed out that cash loans are likely to be converted from short-term loans to long-term loans, and still maintain high interest rates, which can avoid the impact of the new deal without changing the nature of blood addiction.

In addition, judging from the new deal formulated by Google, it seems that the most profitable source of cash loan products is "overheads" and "overdue expenses". In other words, under the seemingly harsh new deal of Google, cash loan still seems to have a lot of room for survival.

According to media understanding, the comprehensive population and the development of the financial industry and other factors, at present, Indonesia based Southeast Asian countries and India is a popular destination for domestic cash loan platforms.

According to the India Internet technology media, Zhu Dao reported. Because the default rate of India users is surprisingly low, even some cash loan products reach an annual rate of 1000%. In August alone, more than 20 mutual gold companies visited India. According to statistics, there are nearly 100 Chinese companies engaged in and ready to start cash loan related businesses in India.

The cash loan platform has flocked in for a time, which naturally aroused the vigilance of India's regulatory authorities. According to the "business daily", taking into account the warning of the P2P industry in China, the Reserve Bank of India (RBI) has imposed harsh controls on its P2P business.

RBI had previously stipulated that the lending funds of the P2P lending platform could not exceed 1 million rupees (about 98 thousand yuan), which greatly reduced the attractiveness of P2P to institutional investors. For this reason, recently, a number of India P2P agencies have sent letters to RBI through the India P2P loan industry association, hoping to ease the regulation of the industry, but RBI has not yet responded to this.

In Indonesia, local regulators are extremely cautious about issuing relevant licences. According to Bloomberg news, the Indonesian Financial Services Authority OJK has closed 826 unlicensed financial technology companies this year, and currently only 7 companies have licences.

The domestic cash and loan industry has become notorious after the vicious incidents such as bare bars and borrowers' suicide. Nowadays, the cash loan with original sin is not easy to expect to be washed out by sea. If the cash loan does not change the nature of bloodthirsty, it will inevitably arouse the vigilance of overseas regulatory authorities, and then the survival environment in foreign countries will only get worse and worse.