From a business point of view they seized a market very well. They took notice of an advance in UK banking practice - bank transfers that complete immediately r

From a business point of view they seized a market very well. They took notice of an advance in UK banking practice - bank transfers that complete immediately rather than in three days or even one - and built a business out of it. Getting a loan into your bank account without leaving your house is a step forward, especially in this day and age where money in your account may be more convenient than cash in hand. They also have tight control over their credit limits and grant expanding credit based on customers' past performance. I'm not sure to what extent bad customers get financially screwed, but in the end I guess it comes down to firing bad customers, which can be a big positive in some markets. Their advertising very big on the customer having choice and control over their loan. Fear of escalating charges probably features large in the mind of someone needing to take a payday loan, so it seems having a nice web interface and clear statements of what you have to pay are a plus (even though their actual credit terms are objectively terrible). So yeah, they're in a business that rightly has a shady reputation. But in terms of building a technology business they seem to be doing some interesting things.