Play Store: war against the App dedicated to loans

Play Store: war against the App dedicated to loans

The managers of Google Play Store they would have decided to ban various mobile applications dedicated to personal loans, as reported by the US newspaper Wall Street Journal the initiative would have been motivated by the need to protect users, often victims of contracts that provide extremely high interest rates on loans.

The position taken by Mountain View would have attracted the predictable criticisms of OLA (Online Lenders Alliance), a company that would defend its representatives by recalling that the rates applied would have been authorized upstream by the supervisory authorities and proposed by companies that regularly operate in the loan sector.

Specifically, the new Play Store policies would make it impossible to charge interest rates above 36%, a restriction that could severely damage the turnover of a particularly thriving sector, even online, which has allowed the creation of various software house specifically dedicated to the sector.

In the same way the equally predictable enthusiastic reaction from the consumer associations would have arrived, the latter can count on very strong pressure groups in the USA and it is easy to hypothesize that Big G has had to act also on the basis of directions coming from political environments less in favor of financial deregulation.

For the moment the other dominant ecosystem in the market of mobile applications on the market, theApp Store of the House of Cupertino, it would not seem to be at work to imitate its direct competitor. Apple in any case, it performs periodic checks to validate the published Apps and it is not said that in the future there will not be even in this case a tightening concerning the category of loans.

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