No, but there are fees for late payments and other special situations.
Their main income is from the transaction fees that they charge the merchants.
The idea is that people who don’t have money can spend money and create a transaction fee on a sale that wouldn’t otherwise have happened if they didn’t lend the money. That way it’s the same as a credit card that you only pay monthly.
The difference is that the payments can be split, so that the customers can … uh … utilize their entire credit maximum every month…
Needless to say, this kind of credit maximum optimization can end really badly for people who have unstable incomes. The same kind of people who might be tempted to use it.











History is a circle.
First we had bicycles. These then got helper motors. Then we got motorcycles and the two stroke engines had helper pedals to start. Then the pedals were removed.
Now we still have bicycles. These then got electric helper motors. Then we got electric bikes, that still have pedals, but people hack them to run entirely on the motor.
Make up your minds already. Everyone of these changes upsets the elderly.