Through the use of Zippy Cash, our clients are able to continue their daily lifestyles with the assistance of our friendly, knowledgeable staff. We promise to aid our clients in a timely manner leaving everyone with the satisfaction that clearly surpasses all expectations of a payday loan company experience.

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Why miss out on the fun, get a payday loan from Zippy Cash today!

Press Release

Staff Writer

How many times have you had to pay the bank an NSF fee, because you were only a few dollars short for your car payment, rent, mortgage or utility bill?

How about those times you are sitting at the kitchen table having your morning coffee, looking through the weekly flyers and you see that item you have been waiting for to go on sale, on for 50% off and the sale ends before your payday?

Maybe you need to get a payday loan cash advance from Zippy Cash! Why should you have to wait until the next time that item goes on sale or have to pay the bank an extra fee? When you can borrow the money today, when you need it!

Borrowing from Zippy Cash has never been easier; our 1 page application takes only 5 minutes to fill in. There is no faxing required, we have an easy online application that allows you to provide your income verification from the comfort of your own home or office. The money is deposited directly into your bank or credit union account, often the same day!

There is no reason to miss out on that dinner date with your friends or having to celebrate your anniversary late, because its not payday. Every day is payday at Zippy Cash. Stop missing out and enjoy life!

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Zippy Cash - Ontario Proposes Rate Cap on Payday Loan Lenders

Press Release

Staff Writer

It seems that some members of the Provincial Government will never be satisfied with payday loans. Who would be since, they believe, payday loan companies only lend to people who collect welfare, or are low income earners and price gouge? Zippy Cash simply doesn't do any of the negative things that some people think about when it comes to payday loan companies.

Reports claim that low-income earners get trapped in a "spiral of easy loans in which they are unable to pay them back". Time to set some things straight; Zippy Cash has certain criteria that needs to be met in order to get a payday loan. This includes having a full time job and being able to prove your income. If you are unemployed, you do not qualify for a loan. There is also a requirement on the amount of money that you take home with your pay. If it is not met, you do not get a loan. Zippy Cash will only give loans to those that we feel are able to pay them back on time.

Now just recently, the Ontario Government has proposed a rate cap of $21 for each two week $100 payday loan. Zippy Cash does charge a little more than the proposed rate, we charge $30 over a two week period. However, this rate is not "astronomically high" as some might say. A recent article on February 6, 2009 on thestar.com states "even the best payday lenders are making 'unspectacular returns' with the average profit margin on a loan hovering around 6.9 per cent, below the 2007 national average of 8.8 per cent for all industries". So look at it this way. You have a $100 bill payment due tomorrow and you don't get paid for another two weeks. Do you let it bounce or borrow some money? It might cost you $30 to borrow until your next payday but most banks and financial institutions charge $42.50 for an NSF, and then you also get charged from the company that you NSF'ed. Who's the one really gouging here?

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Zippy Cash Payday Loan / Cash Advance Application Process

Press Release

Staff Writer

Zippy Cash is the fastest and easiest online payday loan company in Canada. To receive your funds for any emergency or you just need that little bit of cash to hold you over until your next pay day; just apply online.

Our online application is so easy it takes you less than 5 minutes to complete. You will know if you're approved in minutes by email (during business hours). The requirements that you need are to be a Canadian citizen, employed and have a valid bank account or credit union account. After you have completed your online application, you will have three options to select to send us your verification of employment.

Once you're approved, you could have the money the same day if you're approved before 1:30pm Toronto time. If you're approved after that time you will receive your funds the following morning.

Zippy Cash would debit your account on your payday with the specific payback options that you have chosen on your application. You can change your payback options two days prior to your pay day by using the client login to change your request or contact our customer service representatives.

Our friendly and helpful customer service representatives are here to assist you if you need assistance. We value our clientele at Zippy Cash.

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Canadian Payday Loan Automated Software Release

Press Release

Staff Writer

It's fast! It's easy! It saves valuable time and money!

We are tremendously pleased and proud to introduce to you the Zippy Cash Inc. automated payday loan software 3.1! This innovative software is the first of its kind in Canada and is extremely user friendly. This will cut staffing time and allow the software to make many lending decision to save your principal for those who would statistically pay you back instead of a gut decision.

Tired of spending valuable time manually inserting all payments, loans and client information, the new automated payday loan software provides all the answers!

The President of Zippy Cash Inc., Terry Henhoeffer says "there was nothing in the Canadian market that would work so we just wrote our own. We needed something that would work with our existing software that would save time and money. We wanted a new program that would automate and eliminate all of our old processes."

We are also excited to announce one of our many accomplishments resulting from the payday loan software. This is the development and creation of private and confidential payday loan sub-prime credit information. Data is shared between affiliated companies in order to offer a more secure way of providing loans to clients and acts as a way of verifying and confirming information. This eliminates the need of spending a tedious amount of time verifying client's information and requesting additional information. This allows an operator to review all pay history of the client with all affiliated companies to determine whether they are a good paying client and can take the risk lending them funds. It is a huge money and time saver!

Amazing benefits associated with the automated payday loan software include:

• Automated lending decisions based on individualized criteria adjustable by each operator.
• The software reviews the borrowing history with all companies and allow you to set automated lending decisions based on past loan history - such as bank closed, nsf's, amount of money at other brands, stopped payment history and many other criteria's. This ensures that the principal you are lending is safer and you have much less loan losses. This eliminates easy lending decisions by a computer and could allow a person to only review the good ones and close calls. Or it could do it all.
• New application processing time has been cut down as the software automatically declines or approves clients based on personalized lending criteria
• We are able to set what we feel is comfortable for our lending criteria and the operator can override the automated decision if need be. This alone saves us money that we could be lending to good clients and allows for even new staff to process loans
• If a client's application is approved, an email is automatically sent to the operators email account. The operator can then access the application in the software and can search for any automatic declines or existing client information
• Web bots are a compilation of all applications that were declined for that client. The operator will be able to catch clients who are lying by changing their information to get through the application process, retrieve new information on existing clients and can view the reason and store that declined the customer. This is great to have so that you know you are lending to good clients
• Depositing funds and debiting a client's bank account by automatically uploading information to any banking institution
• The software contains all bank and transit numbers and validates transit and bank accounts and will not allow a bad bank account or transit to be entered.
• All deposits can be made to any bank account at any institution. The deposits are automatically uploaded through out the day at different times to the bank for deposit
• Prepaid debits are automatically calculated based on the amount of loan, date the loan was provided to the client, and date it is to be paid back
• Provides an option for the operator to enter in a specified amount in the pads section and create a manual pad for the next payment. A report can be automatically created so the operator can update the file and enter the manual pad
• Creates a payment file automatically each day and uploads it to the bank.
• Keeps track of all individual money transactions in each client's file by providing two separate pages in the clients file for debits and deposits
• An operator can easily locate any client in the system and review their information such as employment, address, bank account and all debits or deposits and NSF's
• PADs run automatically, the operator does not even need to worry about them as it is an automatic process
• Automatically retrieves the NSF report and updates the client record and next payment date and amount is calculated based on the NSF report from the bank
• Automatically adjusts balances based on whether the payment cleared or caused an NSF in each individual file
• Automatically sends an email to the client if the payment does not clear, if their loan has been deposited, or if their loan request has been declined
• Automatically calls all late clients and plays a message for them to call us
• If a payment comes back from the bank with a closed bank account status, the system will automatically apply any new bank account to the next payment if it is available in the client's file and email the client
• Automatically updates and inserts any new banking into a client's file if the client applies with any affiliated company
• The software also automatically updates the clients' status based on the information from the NSF report. If a client has a payment that is returned due to a closed bank account, the status in the system is automatically updated to "no bank info."
• There is also an option for the operator to change the status of the client. If they go into bankruptcy or credit counseling the operator can change the status and make corresponding notes.
• Information (pay history) on shared clients can easily be accessed between operators and affiliated companies.
• Most processes are now automated so the operator has less manual entries to do which frees up their time for marketing and other projects
• On the main screen within the software, the operator can access all clients files, review applications, review their bank or cash floats, and can run various reports that are automatically updated with information from the system
• When and if an error occurs while an operator is manually entering in any information (i.e. a change in pay date as requested by the client) the software will indicate if any fields are missing or if there are any errors. A message will pop up indicating what the error is so the operator can fix it immediately
• Easy access to a client's file when they call in which is a huge time saver as you can just type in their name, verify information and process a loan request. Hit save and their loan and payments will be taken care of
• Automatically gathers existing client information and determines which are eligible to receive promotional cheques based on set requirements by the operator. All clients in the software are reviewed automatically and are run through set lending criteria and anyone that qualifies for an additional loan will be added to the mailing list.
• The software also allows for cross marketing promotional cheques. If you have more than one company you can invite your client to sign up with the other company to increase your store revenues. The software will run through the client list to determine those eligible to receive a promotional cheque for that company. The operator just has to run the report (which is compiled within minutes), print and mail the cheques.
• Based on set lending criteria by the operator, the software automatically sends emails to existing clients that indicates they are approved for a new loan or an increased amount. The email is a generic statement indicating to contact the office or website to get their loan. This saves time and generates money!
• If the client calls to borrow money, the software runs a logic check to see if they have good credit with other companies and automates the lending decision
• Ability for your online Canadian payday loan website to populate the software and the lending decisions to flow through and auto approve or auto decline the client, sending them the appropriate email and depositing their funds and setting up their next payment
• Ability for the operator to choose various reports in order to maintain and review all client activity and loan status. The reports include the following features:
• • Banking Information Available - this report generates a list showing all loans in the system for the selected company that have a status of "No Banking Info" but that have at least one active bank account in the system for the client.
  • Client Activity Report - Shows a summary of all client activity for the date range specified. Shows principal/fees/NSF paid for each client as well as loans/re-loans/cheques for each client.
  • Client Listing - Will generate a summary or detail listing of all clients for a specific company.
  • Clients Added by Month - Generates a report showing the total number of clients added for the specified date range broken down by month.
  • Data Discrepancies - Generates a report that shows possible data problems / inconsistencies for a specific company. This currently includes:
    * Bad banking information
    * Bad payment frequencies
  • Loan Balance Adjustment Report - Show the Principal, Fees, and NSF balance adjustments made to a loan between a given date range.
  • Loan Breakdown by Type - Shows a summary or detail report of all loans given out for the date range specified. Summary report displays one record for each loan type (New Loan, Re-loan, Cheque, Refund) and the detail report shows one line for each loan along with a total for each type.
  • Loan Reminder Report - Shows a list of all reports where the reminder date is in the date range specified.
  • Loans Flagged as "Do Not Pad" - Listing of all loans in the system that have been flagged "Do Not Pad". Loans are grouped and totaled by status.
  • Loans Requiring Attention - Lists all of the imported loans in the system requiring manual intervention.
  • Loans with Manual Pad Updates Needing Attention - Lists all loans in the system that have the "Manual Pads" flag checked and that also have a blank next pad date. This report should be run after generating a pad list to show all of the loans that now need updating.
  • Potentially Missed Pads Report - Generates a report that lists all of the loans that have a scheduled pad date equal to or earlier than today.
  • Suing Candidates Report - Shows a list of all clients matching criteria specified. Used to generate a report of people who are candidates for suing.
• The reports are easy to run and easy to read. No need to spend tedious hours manually gathering the information, the software has automated it all!
• Allows the user to determine collections status in which it will show the total amount to collect by a query that is made in the database on how late the client is and will automatically tell the operator how many NSFs and late fees to add
• Automatically keeps track of any client information that is modified in the software. If any amounts of client information are changed, the software will record the operators name in a report that can be reviewed later
• A summary report can automatically be retrieved which is a one page summary of the client's information. It includes address, employment and all deposits and pads broken down by date for that client. This is a huge time saver as the operator can just grab the summary and send it to the client immediately

As an added bonus, the software is extremely client oriented. The software is now compatible with our website. Clients are able to visit the website 24 hours a day and have the ability to update their file, change their payments, and request loans. Once a client changes any of their information, it is automatically updated in the software. This is an enormous time saver as the client can request funds whenever they want and have their money deposited without ever having to speak with an operator. Our customers are very happy with this new service as they can request funds at their convenience even after we are closed!

Logic is included in the software which works to determine if new applications and loan requests should be approved. Logic uses individualized lending criteria and is weighed against existing information already in the software. Loan requests are approved or declined in the automated system based on this logic. It is extremely flexible and each operator can set different lending criteria. The software also allows the operator to override the original automated decision.

The Zippy Cash Inc. 3.1. Canadian software is an innovative project which provides a more advanced and easy way to maintain client's accounts. It is a massive time and money saver as everything that used to be entered in manually has now been automated. We have been able to reduce our customer service staff by over half - this alone has provided great savings.

The biggest money saver and bonus of the whole software program, is the sub-prime credit information sharing. With client pay history made available to share with affiliated companies, lending decisions and application approvals are easier and provide more assurance since you can determine if the client has a good pay history with the other companies.

We are thrilled with the introduction on the software and remain optimistic and excited about the automated future of the Canadian online payday loan industry!

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PAYDAY LOAN DEFINITIONS

Definitions:

Additional funds: more money requested or issued

Advance (verb): to improve or further; to supply; a promotion; to go forward

Applicant (noun): a person that applies

Application (noun): "a form to be filled out by an applicant" to request something

Apply now: new customers can go to the website and fill out an application for a payday loan or cash advance

Approved: a submitted application that is accepted for a loan

APR: annual percentage rate; a rate that is charged on any loan borrowed; usually higher for payday loan companies since it is based on a two week loan

Bank account: "is a financial account with a banking institution recording the financial transactions between the customer and the bank and the resulting financial position of the customer with the bank;" account can be in the positive or negative where debit is owing

Bill 48: a new law that will promote consumer protection and regulates the payday loan industry. The third reading was passed on June 9th 2008

Borrow (verb): to take with intention of returning same or equivalent; to use from another source; to borrow something with the intent to repay

Borrower (noun): a person who is given something with the promise to return the same or equivalent

Borrowing fees: interest fees that are charged with each loan borrowed

Business (noun): "an occupation, profession, or trade;" the sale of goods or a service in order to make a profit

Canadian online payday loan industry: an industry that provides consumers with easy to fill out applications on the net to apply for a cash advance

Canadian payday loan: a loan provided within the Canadian provinces with the intent to pay back on an indicated payday

Canadian payday loan industry: a sector emerging in "early to mid- 1990s in response to a demand for small-sum, short-term credit"

Cash (noun): money in form of currency

Cash advance (noun): also referred to as a payday loan; a loan given in anticipation of the borrower's being able to repay it

Cheque cashing services: providers that "cash third-party cheques immediately with adequate personal identification and for a fee, usually a fee per cheque and a percentage f the face value of the cheque"

Chequing account: each banking institution has various account features to suit each individual, but mainly these accounts are for day-to-day transactions and purchases

ClicknCash.ca: a leading online payday loan company issuing funds to residents in British Columbia, Alberta and Ontario

Client (noun): an individual who has an account or file with the company

Client login: access that is granted with a user name and password

CPLA: Canadian Payday Loan Association; comprises 21 companies including 519 financial service retailers across Canada; provides payday loans to over two million Canadians per year; strive to work with governments to maintain regulation in order to provide a viable service and best business practices for consumer protection.

Company (noun): a group of people assembled together; associated with one another; guest(s); collective society for social purposes

Consumers: "a person who uses goods or services"

Day (noun): a unit of time equivalent to twenty four hours

Debt (noun): something that is owed; created from owing a debtor, granted with expected repayment plus interest; an obligation to pay; what one person owes to someone else

Deposit (verb): the act of transferring money into an account

Deposit account: a bank account held at an institution that can be withdrawn or deposited by the account holder; balances and transactions are recorded

Direct deposit: an electronic deposit into your bank account

Easy cash advance: a short term loan to meet immediate needs until the next payday

Employment (noun): the state of being employed; earning a living by paid occupation; working full time or part time
        Full time (noun): working the usual number of hours in each day, week or month
        Part time (noun): "a period of time that is less than the usual or full time"

Existing customers: those individuals who previously submitted an application that was approved

Fast cash: borrowed money immediately deposited into a personal bank account

Fees: "the price one pays as remuneration for services"

Financial gap: when you need extra funds to meet your financial needs between paydays

Fixed interest rate: a loan that remains at a predetermined rate for the entire term of the loan

Instant approval: upon completion of an application, immediate indication that application was approved or declined

Internet (noun): "an interconnected system of networks that connects computers around the world"

Internet lending: marketed through email, online search, paid ads, and referrals; applicants complete an application online and money is transferred into their account

Leading online payday loan provider: the number one company on the net providing cash advances

Legislation: a law which has been enacted by a governing body; known as a bill before it becomes law; the bill is under active consideration

Lend: to provide the use of something with the condition that it will be returned; interest to be paid back if money is given; to contribute obligingly or to give aid

Lend: (verb): temporary usage with condition of it to be returned or its equivalent; repayment with interest; to provide assistance

Lender: a person that provides money or credit in relation to business

Loan:
(noun): type of debt; money received from the lender in which the borrower pays back plus interest; a legal promise to repay a debtor; something lent for temporary usage; a physical transaction, of money or goods
(verb): to lend at interest
(idiom): on loan; borrow for temporary usage

Loan: (noun): money lent for the borrower's temporary usage; lent with interest

Loan application: "an application to borrow money"

Loan calculator: calculates the cost of borrowing a loan; indicates the fees amount based on the next payday

Lowest payday loan rates: a company that provides minimal interest for borrowing a loan

Maximum amount: the most money that can be borrowed, usually $500 for a payday loan

Minimum amount: the smallest amount that can be borrowed, usually $50 for a payday loan

Non sufficient funds (NSF): a returned payment that did not clear a bank account

Online payday loan: a loan requested from the world-wide web

Online payday loan application: an application filled out online for the purpose of obtaining a payday loan, deposited directly into your bank account the same day

Online payday loan service: a company that operates through the net offering payday loans to consumers

Ontario payday loan: a payday loan issued in the province of Ontario

Ontario payday loan legislation: a new law passed on June 9, 2008 that will regulate the payday loan industry and provide consumer protection

Pay:
(verb): a wage or salary earned for work; to give money for something; to give compensation for; to give over in exchange for something; to give or render; to transfer money to settle a debt; to settle an obligation
(noun): the act of receiving a payment or being paid; wages or salary; paid employment
(adjective): pertaining to a payment; something becomes accessible with the deposit of coins; payment for service or use

Pay back: to make a repayment or return; to punish or get revenge; to seek retaliation

Pay day: "the day on which you receive pay for your work"

PaydayPayday.ca: a leading payday loan website that matches you with the best online lenders

Payday cash advance: an amount that is given in advance of next payday

Pay down: partial payment at time of purchase with intent to pay remaining balance in installments; to pay back or to pay off

PayMart.ca: leading online payday loan site that provides access to immediate funds

Pay off: to give money to pay everything that is due; payment in full; (used informally) to bribe; also refers to a result in success or failure

Pay out: disburse; to punish or get revenge for

Pay up: to pay full balance; a demand to pay in full

Payday loan (noun): a small short-term loan (usually between $50-$500) plus interest that is paid back on your next payday; it is intended to cover a borrower's immediate expenses

Payday loan: "is an advancement of money in exchange for a post-dated cheque, a per-authorized debit, or a future payment of a similar nature but not for any guarantee, suretyship, overdraft protection or security on property and not through a margin loan, pawn broking, a line of credit, or credit card. The typical payday loan is for 1 - 14 days"

Payday Loans Act, 2008: "an Act to regulate payday loans and to make consequential amendments to other Acts"

Payday loan customer: an individual who borrows funds before their next payday

Payday loan service: a company that provides consumers with fast and easy cash advances

Payday loan legislation: a new law that provides increased consumer protection and a more viable industry

Payroll advance: cash provided by request before your next payday

Personal bank account: an account held at an institution (chequing or savings)

Personal loan: "loan that establishes consumer credit that is granted for personal use; usually unsecured and based on the borrower's integrity and ability to pay"

Poor credit history: bad credit or no credit; payday loan companies do not need to know about your credit history; the loan agreement is between the client and the company

Pre-approved: an application that is automatically approved based on the answers provided on the application; the application will be reviewed and verified

Retail lending: visiting a walk in store to secure a small cash loan

Rollovers: fees due (minimum payment) on a client's payday, the loan is then renewed

Savings accounts: a personal account at a banking institution that holds your funds and applies daily interest

Short-term (adjective): refers to a short period of time; pertains to one year or less

Short-term loan: a cash advance provided with the intent of paying back plus interest within a two week period, usually on the consumers next payday

TheBlueHog.com: one of the newest site launched providing access to payday loans in Canada

TheRipeApple.ca: newest addition to the online payday loan industry

Wage: "a compensation workers receive in exchange for their labor;" includes cash being paid; salaries that are paid periodically with the contract between the employer and employee

Web's leading online payday loan provider: the top company providing cash advances

Week (noun): seven days in succession; usually starts with Sunday and continues until Saturday

ZippyCash.ca: a leader in the online payday loan industry

Sources:
http://www.wikipedia.org
http://www.howitworks.net/how-payday-loans-work.html
http://dictionary.reference.com/browse/
http://www.britannica.com/dictionary
http://www.tfd.com
http://www.merriam-webster.com/dictionary/loans
http://zippycash.ca
http://www.cpla-acps.ca/english/reports/Hansard%20ON%20Payday%20Loans%20Act%20third%20reading%20Jun%209%202008.pdf
http://www.uwgt.org/whoWeHelp/reports/definitions.php