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Payday loans have become more technologically aware since their introduction to the finance market over 7 years ago. Many of the early payday loan companies required customers to send over documents and fiscal statements to them to be able to take out a loan. Now those companies are in the minority as loan company look to speed up the loan application process by using technology accessible today. Check cashing was the source of the payday loan industry in the beginning of this fast growing area of the fiscal credit market Checks would be provided by the customer to the amount of the loan and cashed upon reaching the term of the agreement. The loan procedure was very slow and often customers would look elsewhere for a loan.