As exact as what they do the same in my country. But not only two apps but, they're like mushrooms that grown everywhere whether they're registered or not, the government can't even shut all of them down. They will threaten not only the borrower but even the people he's signed up as his reference. Too many ads here as well and it's tied up with the vast growth of online gambling, so my countrymen borrow mostly not only for having extravagant purchases but also to access money quickly when they don't have it yet just to gamble.
https://www.dawn.com/news/1770805A man ended his life, he was 42 years old. He was mature and young enough to know what is good and not. He took a loan, and eventually he had to end his life because the app representatives were threatening him and blackmailing him. I don't know what they had on him, which they were using for blackmailing.
But he ended his life, which resulted in a nationwide investigation of all the apps. The FIA investigated the apps he took loans from, and another authority, the PTA, banned 43 lending apps that were operating without a license. But later they found there are 120 in total, which is good, itself banned by cross-checking with the SECP.
These app owners are not ordinary people, they have a lot of money, and in most cases they are linked with the authorities, unofficially doing business by bribing sometimes and using corrupt officials to blackmail.
