Payday Loans

Since regulatory guidelines were tightened in the UK, and stricter measures have been implemented in the USA and elsewhere, payday loans have become an increasingly popular loan solution. We have built up an extensive network of international payday lenders, in order to provide an exemplary service in terms of commission and conversion.

What Are Payday Loans?

A payday loan is intended for a small one off expense. Whereas with an installment loan you’d pay back the loan in payments of the same amount each month, a payday loan is repaid in one lump sum – usually on your next payday.

The main benefit of a payday loan is that because you’re only borrowing for such a short space of time, you don’t end up paying too much interest. If you take out a payday loan for a few days or weeks, you would only pay interest for that length of time.

Passing on Payday Loan Leads

Once you are set up and looking to send leads into the system, there are two distinct ways in which you can do this. With a direct post, which is the most common option, you send your lead directly to Leadtree Global, and wait for us to give you a response.

Polling is a little more complicated – you’d need to perform a ‘GET’ request on the API after submitting a lead, repeating the process until you get an accepted, rejected, no buyers found or errors response.

What Lead Options Are Available?

In terms of commission, there are three options available: a flat fee for every accepted lead, a flat fee for each funded loan, and a 90% commission for each accepted lead. We’ve designed our system to allow you to choose a combination of all three options, or stick with just one. You can even try out the different types of commission and track your results to see which one works best for you.

We additionally have a system in place that enables customers to decide if they are happy to be considered for an instalment loan, should a payday lender be unable to fund their loan. This not only means that more customers are able to access the funds they need, providing them with a more positive customer journey, the option to convert customers to another loan product will also help enhance your conversions. This in turn will mean a higher profit in terms of lead sales.

Instant and Deferred Response Lenders

There are two different types of lender when it comes to monetising your payday loan traffic – deferred and instant response lenders. An instant response lender will tell you straight away whether they have approved the customer and how much commission you’ve earned. The majority of lenders will provide instant responses about your leads. That way you can more easily track how well your method of marketing is performing, and if you need to make any changes to your campaign.

We also have deferred response lenders on our panel, who can take up to ten days to provide a decision for a lead. The upside is that these lenders will generally pay more for converted leads than instant response lenders.