The ‘AI Took My Job’ to ‘Payday App Took My Money’ Pipeline

In the US, payday loan apps disguised as fintech services are rapidly growing, fueled by freelancers and gig workers affected by AI-driven job losses. These apps offer paycheck advances with fees or tips, often embedding in users' bank accounts to automatically repay loans. Despite rejecting comparisons to predatory payday loans, many share origins with such firms, and their debt segment is the fastest growing in finance, partly legitimized by corporate partnerships.