Abstract
Payroll loans became a protagonist in the personal loan market in
Brazil. However, its importance still conflicts and requires further
investigation. Based on a systematic literature review, we seek to
understand the economic and social relevance of payroll loans from the
perspective of existing research. Results demonstrate that literature is
often contradictory: there is, on the one hand, evidence of positive effects
of payroll loans on the economy, while other findings suggest that the
expansion of payroll loans may have contributed to the economic crisis that
the country faced in 2015. Regarding social impacts, the main discussions
are centered on the financialization of income, elderly customer
vulnerability, debt, the role of payroll loans in family budgets, and the
inclusion of the elderly and poorer population segments in the consumer
market. This study has also identified a research agenda that could be the
starting point to guide future investigations on the topic.