Peer to peer (P2P) lending has been a relatively popular or widely-adopted business model and it has seen many new platforms attempting to offer these types of services, the Debitum team writes in a blog post.

However, Debitum, a Lithuanian platform offering borderless SME financing, points out that “just as there are new players coming on to the scene,” several others have exited the market. The Debitum team asks “why do some platforms fail” while others manage to maintain operations.

According to Debitum, a platform must be accessible, “easy to use, with clearly laid out information and effective customer support in place.” When these things are missing, potential users may get confused and might be uncertain as to whether they want to participate in offers via such platforms, Debitum noted while adding that lack of clarity may lead to trust issues “particularly [for] first-time users.”

Debitum recommends:

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