The vast majority of payday loans are unsecured. This means that, unlike a pawn shop, you won't need to provide collateral or borrow against an item of value to get a loan. Instead, the lender will likely ask you for permission to withdraw funds electronically from your bank, credit union or prepaid card account, which you often provide. Alternatively, the lender may ask you to write a check for the loan repayment amount, which the lender will cash when the loan is due. But when I applied for a loan at https://paydayplus.net/900-payday-loans I was only asked for a withdrawal authorization and nothing else.
Under federal law, lenders cannot refuse a payday loan unless they obtain the consumer's prior authorization for "pre-authorized" (recurring) electronic financial transfers before the loan is disbursed.