Definition of payday lender noun from the Oxford Advanced Learner's Dictionary


payday lender

BrE BrE//ˌpeɪdeɪ ˈlendə(r)//
; NAmE NAmE//ˌpeɪdeɪ ˈlendər//
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a company that lends money to people for a short time at a high rate of interest, expecting them to pay it back when they receive their next wages