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Cash Converters cashes in on online payday loans. By Georgia Wilkins and Clancy Yeates. A boom in online payday lending in Australia has helped Cash Converters return to profit after multimillion-dollar losses last year. The company, which is known for its bright yellow pawn shops, hopes to cash in on the growing number of Australians turning to the internet for fast cash.
More than 1 million Australians are estimated to take out a payday loan each year. Photo: Karl Hilzinger.
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