wonga

/ ˈwɒŋɡə /

noun

1. informal,  money

Word History and Origins

Origin of wonga¹

C20: possibly from Romany wongar coal

Example Sentences

Just look at Wonga, the British payday loan company that collapsed into administration in 2018 after being accused of predatory lending for years.

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Klarna acquired BillPay, Wonga’s German payments business, in 2017.

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Klarna CEO Siemiatkowski pushed back on these characterizations in 2021, saying comparisons to Wonga made him “emotionally upset.”

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However, many of these - such as Wonga - have been regulated out of business, after concerns that they were causing severe financial distress to consumers.

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With more people struggling this year, and payday loan companies such as Wonga and Quickquid no longer operating, the concern is that more people will turn to illegal lenders to make ends meet.

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