Loan apps in line with new policy by Google will reportedly be denied access to customers’ photos and contacts following their crude loan retrieval methods
According to reports, From May 31, 2023 loan apps on Play Store will lose their ability to access their users’ contacts or photos on a new policy by Google.
Google, in its April 2023 policy updates, said the new policy update would provide an interval of rest for loan app users in Nigeria and other places that have become accustomed to crude loan retrieval methods employed by a majority of loan apps.
According to the FG, the latest policy by Google was consistent with the Nigerian authorities’ move to curtail the invasion of customers’ privacy by loan app firms.
Recently the Federal Competition and Consumer Protection Commission registered 170 loan apps out of the 200 operating in Nigeria
The Google Developer Programme Policy, mandates all digital money lenders in Nigeria, India, Indonesia, the Philippines, and Kenya to conform to regulatory rules or be taken down by January 31.