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Chime's S-1: MyPay revenue totaled $64.3M in Q1 vs. estimated credit losses from the product of $57.3M, highlighting the risks with the paycheck advance product (Cory Weinberg/The Information)
Cory Weinberg / The Information: Chime's S-1: MyPay revenue totaled $64.3M in Q1 vs. estimated credit losses from the product of $57.3M, highlighting the risks with the paycheck advance product — Last summer, banking app Chime introduced a lending product that let customers borrow small amounts to get them through to their next paycheck.
Cory Weinberg / The Information:
Chime's S-1: MyPay revenue totaled $64.3M in Q1 vs. estimated credit losses from the product of $57.3M, highlighting the risks with the paycheck advance product — Last summer, banking app Chime introduced a lending product that let customers borrow small amounts to get them through to their next paycheck.
