The latest technological developments and security reasons have meant that the classic SMS loan is now past.
However, this does not mean that you can no longer use your mobile phone to borrow money. On the contrary. In a time when smartphones have become commonplace, it is incredibly easy to borrow money via mobile.
The classic SMS loan
In the past, SMS loans, as the name suggests, were loans taken up via SMS. You just sent an SMS with personal information and the desired amount. Subsequently, the providers processed the application and a prompt reply was received. The classic SMS loans, like quick loans, were characterized by shorter maturities and smaller amounts.
New rules regarding NemID meant that the use of NemID today is part of borrowing money over the mobile. This development has created greater security for both you as a borrower and us as a provider.
The new SMS loan
Although no longer borrowing via SMS, the term SMS loan is still quite widespread and contributes to confusion. Today, the term is still used about the loans you can apply through your smartphone. However, the use of NemID has not slowed the process. You can apply for a loan within a minute just by having personal information and NemID ready.
The new way of borrowing via mobile works just by clicking on Isabel Archer on your smartphone. After that, the application process is completely as easy and fast as if it is done on the computer.
The same easy process, of course, also applies when using a tablet
At the same time, all the same offers and benefits still apply, even if you use your mobile phone. You will still be able to apply for both payday loans and credit. It will also still be possible to borrow up to USD 15,000, and there will also be no hidden costs of borrowing from the mobile, as is the case with loans via the computer. The only difference between doing it on your computer and mobile is that the mobile offers a little extra flexibility as you can borrow on the go.