Doubters worried as Wagestream offers lendings of up to ₤ 25,000 to employees at Pizza Express, Asda and others
Low-wage employees are being used a debatable brand-new type of high-interest car loan of approximately ₤ 25,000 via the “financial health and wellbeing” app Wagestream, a specialist loan provider that has signed handle some of the UK’s best-known employers including Asda and Pizza Express.The app is pitched
as an employee benefit, and provides workers access to finances with a representative APR of between 13.9% and 19.9%, implying at the very least 51% of consumers will certainly get that price. Continue reading … Source: The Guardian