Another Technological Advancement for Cash Now, Payday Loan Company

Historical archive, first published 2006 — payday-lending laws and rates have changed since. Preserved for the record.

First, Cash Now, a well-known payday loan company, announced that is would utilize new technology to double check on potential bad cash advances or clients.

Now, the same firm is taking advantage of another breakthrough to make it even easier for individuals to receive faxless payday loans.

In Virtual Terminal, Cash Now has found what it considers to be - by far - the most advanced Web-based platform for processing electronic payments available today. With its easy-to-use, yet powerful user interface, Virtual Terminal enables Cash Now licensees and system users to schedule a single transaction or a series of recurring transactions with a few simple keystrokes.

The progream supports the processing of credit card, debit card and electronic check (ACH/ATM) transactions. These transactions can be processed in real-time or can be scheduled to occur at a future date designated by the user. The idea is to make the acquisition of instant payday loans as simple as possible.

The goal, of course, is for Cash Now to continually integrate its technologies with other fast payday loan sub prime credit reporting agencies, while identifying potential bad loans and reducing loss exposures for the Cash Now licensees utilizing the company technology.