Payday lending allows borrowers to borrow an amount of money and pay it back over a short term, usually at a high APR and collected via CPA, or ’Continuous Payment Authority'. The FCA (Financial Conduct Authority) put measures in place in 2015 to limit the interest and fees charged by high cost short term lenders. 118 118 Money is not a payday lender, nor is it a high cost short term lender.