The benefit of private payroll loans extent to reliability, lower default rates, a diminished level of risk, as well as lower interest rates. This is due to the fact that the salary is essentially "a guarantee for repayment of the loan." In addition, these loans certainly provide "a fast and easy method to obtain funds."
To increase the abundance of private payroll loans in Brazil, Creditas -- a financial technology company, acquires Creditoo, which is a digital platform for payroll loans. The reason behind this merger is the fact that the product of the latter "aligns perfectly with Creditas' services."
Loans of this type will allow Brazilians to pay off their debt faster, facilitating the grounds for a thriving economy and a healthier populous.
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