LeadPoint hopes to add to the existing 1,500 leads now traded via the exchange each day by offering customers short-term loans to bridge the gap prior to pay day.
Clients can apply online with funds deposited on the same day and the repayment is then debited on pay
Loans usually range from £80 to £1,000 with typical borrowers earning anything between £15,000 and £35,000.
Nick Chapman, managing director of LeadPoint UK, says: “Payday lending is the fastest growing UK consumer finance product. By launching into pay day loans we are taking another step to becoming the number one lead generator in the UK.”
He adds: “LeadPoint have already established themselves as a major player in the online payday leads market in the US, and with the UK launch we hope to achieve the same success.”