This article is very misleading when it talkes about interest rates. Look at the pictures of the app on google play, one of the example loans is borrow 3500, r

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