Would you use it ?

[Ayush_]

Today when I went to my coaching i forgot to take some money for canteen and i was very hungry. So i thought of an idea of an app where you can take instant small loans when you are in a situation where you need money instantly, and you ain't got any then you can pay it afterwards when you have it. But the things is, is this really a problem. And even if it is not a problem can this become a habit. Like if i give you an option to carry money everytime you go out and give you an option to lend and pay it later when you have time, will you be lazy enough to chose the app?

 

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[MagicIsland]

Nowadays, there are a lot of cashless payment options.
If you forget (or just don't want to use) cash, you have digital wallets in your phone like Wise, Apple Pay, Google Pay etc.
You also have digital credit cards and many many other possibilities.
If you want to use the application you mentioned, you need to have a phone in your pocket. So if you have your phone with you, this application is useless as you have other convenient options.

 

[Dionysos]

Nowadays, there are a lot of cashless payment options.
If you forget (or just don't want to use) cash, you have digital wallets in your phone like Wise, Apple Pay, Google Pay etc.
You also have digital credit cards and many many other possibilities.
If you want to use the application you mentioned, you need to have a phone in your pocket. So if you have your phone with you, this application is useless as you have other convenient options.

I agree.

The situation as described by @Ayush_ is getting rarer by the day, so I don't think investing in a that kind of app would be worth it.

 

[eramart]

What you describe is a microfinance institution with an app as frontend. It may work well in places where people use smartphones a lot and simultaneously do not have easy access to real banking products.

 

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