1% daily? I don't care how revolutionary techcrunch thinks this is; that number means they are nothing more than a gussied-up payday loan operation -- the vultu

1% daily? I don't care how revolutionary techcrunch thinks this is; that number means they are nothing more than a gussied-up payday loan operation -- the vultures of the financial industry food chain. As usual, the people using this service will end up being those least able to afford it. (e.g.: If you're financially stable enough to have access to one, you can use a credit card to meet the same needs. Many don't start charging interest at all until after 30 days, Wonga's maximum term.)