I say again ... nonsense! I look forward to the mainstream media taking up the story and doing comparisons and perhaps you'll realise the difference yourself!
By your definition, the loan NAB gave me to go travelling for 3 months months after I finished Uni and before I started work was a "payday loan"? Payday lenders make more money from fees than interest (yet charge the same interest rate as WW)
Payday lender = high interest and even higher fees (crippling if not paid)
Wallet Wizard = high interest but no fees.
Suggest you do some calc's rather than making uniformed declarations like this. See posts on other strings for comparison calcs.
CCP Price at posting:
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