In today’s digital age, a startup story about an online listing directory business is a perfect example of how technology and innovation can disrupt traditional industries.
With the rise of digital platforms and online marketplaces, the need for a central hub to connect businesses and customers in the money services industry has become more crucial than ever. This is where our startup, CashCheckNearMe.com, began its journey. But why check cashing and payday loans?
A General Overview of the Check Cashing and Payday Loan U.S. Market Today
In order to understand why we started this listing directory website, built exclusively for this industry, we need to dig into some interesting market background statistics.
Did you know that in the U.S. alone over 9 million people take out payday loans annually? That is a pretty large number! While payday loans are typically a last resort, they do serve a special purpose, especially when someone is in a financial pinch. In 2021, the payday loan industry was valued at $33.5 billion dollars in the U.S. alone!
This industry is known as a highly-fragmented and mature industry, originally being established in the 1930’s. Primarily, this industry has historically served the unbanked and the underbanked person, but virtually anyone can use these services.
Let’s Dig Even Deeper Into This Industry
The check cashing industry, also known as the alternative financial services sector, is dominated by a handful of large companies. These companies have established a strong presence in the market and have built a loyal customer base over the years.
Some of the biggest names in this industry include – Western Union, ACE Cash Express, Walmart and MoneyGram – but there are other major names as well. These companies have a wide network of locations across the country and offer a variety of financial services besides check cashing, such as money transfers, bill payments, and prepaid debit cards. Due to their widespread reach and diverse services, these companies have become the go-to option for individuals who do not have access to traditional banking services.
The goal of our site is also to provide marketing exposure to these large companies, but also to provide exposure to independent, smaller check cashing and payday loan near me businesses.
How Does CheckCashNearMe Help Fill the Gap in This Industry?
CashCheckNearMe is an online listing directory of check cashing and payday loan businesses. Before the website was even started, we researched over 4,000 money services businesses in the industry and added them into our directory, ready to be claimed by their respectful business owners. Any of these businesses can be found using our website’s search engine found in our Search Business Listings page.
Let’s take a closer look below at some of the features that users receive using this website…
- Location-Based and Proximity Search Results: CashCheckNearMe has a lightning fast search engine that crawls all the business listings on this website. This search engine is specifically designed for location-based searching to find the nearest check cashing and/or payday loan business closest to you.
- Business Listing Details: Every listing on the website is loaded with fields that display information about the business. That way you have all the information you need at your fingertips. We display important information, such as business hours, fees, any many more important details for your benefit.
- Payday Loan Quoting: Options are great to have and we make it easy to get quotes from businesses, who offer payday loans. A user can submit either an online or in-person payday loan quote request from many different business listings, as long as the listing(s) displays the Payday Loan quoting badge and payday loan request form. It is smart to compare different rates and terms from different businesses, so you can be confident you selected the right business and loan for your needs.
- Business Ratings and Reviews: An online directory would be incomplete without user-submitted rating and reviews for each business listing. We have a built-in system that displays the reviews and ratings in the business listings. Businesses can also reply to the ratings and reviews.
- Business and User Dashboards: Every user gets their own user dashboard, when registering through this website. Any bookmarked business listings will appear in this dashboard for future needs. Businesses get their own dedicated business dashboard, loaded with all types of useful features.
Wrapping It All Up
CashCheckNearMe has major plans for future growth. There are many more money services businesses that are not listed on our website YET. But we are confident and hopeful we have a needed online service to offer these types of businesses and the people who use their services.
The check cashing and payday loan market is expanding more into the next decade and we will be along for the ride.
Source Link: https://cashchecknearme.com/the-beginning-of-cashchecknearme/
