On Thursday, Google released a clarification regarding the action taken on personal loan apps on the Google Play Store, revealing details on why some loan apps have been removed. from the shop.
The search giant said it has reviewed hundreds of personal loan apps in India, based on reports from users and government agencies. Lending apps that violated Google’s user security policies were immediately removed from the Play Store.
Additionally, the developers of the remaining identified apps were asked to demonstrate compliance with applicable local laws and regulations. Even apps that don’t will be removed without further notice, Google said.
Google only allows full repayment personal loan apps requested in a period greater than or equal to 60 days from the date the loan is issued and all developers in the Store agree to the terms of the Google Play Developer Distribution Agreement.
Additionally, financial services apps that offer personal apps are required to disclose information about the features, fees, risks, and benefits of personal loans, which will help people make informed decisions about their financial needs.
“All developers in the Play Store agree to the terms of the Google Play Developer Distribution Agreement, which states that apps must comply with applicable rules and laws, including generally accepted practices and guidelines. In addition, the Policy for Google Play developers require financial services apps that offer personal loans to disclose key information such as minimum and maximum repayment periods, maximum annual percentage rate and a representative example of the total cost of the loan “, Suzanne Frey, Vice President, Product, Android Security and Privacy, he wrote in a blog post.
Google noted that developers should only request permissions necessary to implement current functions or services and should not use permissions that give access to user or device data for undisclosed, unimplemented or prohibited functions or purposes, adding that the data must be used for purposes to which the user has consented.
- Google only allows full repayment personal loan apps requested in a period greater than or equal to 60 days from the date the loan is issued and all developers in the Store agree to the terms of the Google Play Developer Distribution Agreement.
- Google provides clarification on actions taken on personal loan apps in India