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The killer USP is that Wonga is the first consumer finance company to fully automate the lending process, providing a completely online credit solution around the clock.
The following blockchain credit solution has been proposed: during the "know your customer" (KYC) process, banks should store customer information in their own database, and then employ encryption technology to upload summary information for storage in the blockchain.
The USP ("unique selling proposition") is that Wonga is the first consumer finance company to fully automate the lending process, providing a completely online credit solution around the clock.
The company, which was founded in 2009, helps carriers and distributors run incentivized wireless device trade-in and recycling programs, powered by an instant in-store credit solution and a Web-based platform that integrates into the point-of-sale systems at retail stores.
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After inquiries from The New York Times, Credit Solutions sent a full refund to the West Virginia couple, the Carters, saying it was committed to customer satisfaction.
"There's a place for credit solutions that are integrated within traditional health insurance programs, when an individual hits that out-of-pocket expense," said Tom Beauregard, a senior vice president at UnitedHealthcare.
Credit in India is highly under-penetrated and Capital Float is bringing the right kind of credit solutions to the underserved and informally served segments of SMEs to help realize their full potential".
"The combined Wonga and BillPay business will consolidate our position as a pioneer in the financial revolution, offering customers a range of bold new payment and credit solutions for the modern world," Damelin said in a statement.
Your credit situation is highly tailored to your individual situation, which is why so few "one size fits all" credit solutions exist.
Leslie McNamara is Managing Director of Partner Management for Citi Retail Services, one of North America's largest and most experienced retail credit solutions providers.
*eRated is a credit scoring solution for P2P transactions tackling a large, fragmented market of an estimated 100 million sellers across some 1,000 marketplaces worldwide, totalling some $460 billion.
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