PayPact is the peer-to-peer lending platform built on transparency. No hidden fees dressed up as tips. No mystery APRs. You set the rate, you see every number, and every repayment builds a verifiable trust score.
Lenders keep more. Borrowers know exactly what they owe. Everyone wins.
The CFPB found that SoLo's "voluntary" tips and donation requests functioned as mandatory loan fees. When calculated as APR, the effective rates ranged from 36% to over 1,000% — figures that were never disclosed to borrowers at origination.
On SoLo, borrowers set a "tip" to attract lenders, but the platform's own structure determines what's competitive. Lenders have no ability to negotiate real interest rates or protect their returns with transparent terms.
SoLo's lender scores are basic and not built on verifiable payment history over time. High default rates have led to lenders losing significant portions of their deployed capital with limited recourse.
SoLo connects you with unknown borrowers in a marketplace format. There's no built-in mechanism for lending within trusted personal or professional networks — which is where most P2P lending naturally happens.
| Feature | SoLo Funds | Zirtue | Venmo / CashApp | PayPact ✦ |
|---|---|---|---|---|
| Transparent fee structure | No (hidden in tips) | Yes | Yes | Yes — flat 2% |
| Custom interest rates | No | 0% only | No | Yes — you set them |
| Structured repayment terms | Basic | Yes | No | Yes |
| Trust / reputation score | Basic | No | No | Core feature (0–100) |
| Multi-party agreements | No | No | No | Yes |
| Lend to people you know | Marketplace only | Yes | No repayment tracking | Yes |
| CFPB complaint history | Yes — enforcement action 2024 | None | None | None |
PayPact charges a flat 2% platform fee, shown to both parties before they agree to anything. The interest rate, repayment schedule, and total cost are all part of the pact — no post-agreement surprises.
There are no tip requests, no donor suggestions, no platform-pressured amounts. Lenders set real interest rates. Borrowers see real numbers. Both parties accept terms they chose — not terms a platform optimized for volume.
Every on-time payment raises your Trust Score (0–100). Lenders can see your full payment history before agreeing to terms. Borrowers who build a strong score unlock better rates from willing lenders. It's a reputation engine, not a black box.
The full story on the CFPB action, what it means for lenders and borrowers, and how to protect yourself.
Join PayPact and start building a trust score that works for you — not against you. Create your first pact free.
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