This article previews changes included in our April 2023 policy updates.
We’re updating our Personal Loans policy to state that apps aiming to provide or facilitate personal loans may not access user contacts or photos.
We’re introducing additional requirements for personal loan apps targeting users in Pakistan. Personal loan apps in Pakistan must submit country-specific licensing documentation to prove their ability to provide or facilitate personal loans.
Such apps have long been a nuisance with their hawking methods worthy of a loan-sharking business, so Google has decided to shake things up and restrict the damage they can do without banning legitimate businesses altogether.
It apparently is also ready to introduce localized restrictions based on a country’s legislation regarding personal loans businesses, including reviewing their documents if there is a licensing system involved.
Quick loan apps have proliferated in recent years and have made it inherently easier to take one with a few taps without the paperwork and restrictions of banking institutions involved. For many users in developing markets their Android phone is the only computing device they have and they have increasingly been the target of predatory lending practices via apps present in the Play Store.
