Personal loan applications for Android have been officially banned by Google
To tackle predatory behavior from lenders who harass borrowers, Google intends to limit apps that provide loans to individuals from accessing sensitive user information like contacts, photos, and more. This move is part of Google’s increased efforts to address the issue.
A new set of limitations has been added to Google’s Personal Loans policy for Google Play app stores, prohibiting them from obtaining external memory, contact details, photographs, video files, or call history. Google will begin implementing these changes to its Financial Services policies on May 31.
In the company’s notification, it is stated that “Apps that offer personal loans or have as their primary goal publicizing access to personal loans (i.e., lead generators or mediators) are prohibited from acquiring valuable data, such as photographs and contact information.
Some customers who obtain credit via mobile apps experience harassment from debt collectors. According to reports, these agents used tampered images to demoralize borrowers by accessing their pictures and contact lists. Targeted people have even committed suicide in extreme cases as a result of this. Concerns about the security of borrowers have been raised by this trend.
In India and Kenya, numerous incidents of this harassment were reported. Numerous personal loan apps were removed from the Play Store by Google in response to warnings from law enforcement and central banks. The business also put rules in place to prevent unlicensed loan apps from being downloaded from the Play Store.
To guarantee the legitimacy of personal loan apps on the Pakistani Play Store, Google has authorized precise registration documentation. Additionally, the company mandates that all non-banking financial institutions in the nation have just one online lending app that is accessible through the Play Store.
India, Kenya, Nigeria, the Philippines, and Indonesia are among the markets where the new policy is being implemented.
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