Concern in regards to the increasing usage of payday financing led great britain’s Financial Conduct Authority to introduce landmark reforms in 2014/15. This paper presents a more nuanced picture based on a theoretically-informed analysis of the growth and nature of payday lending combined with original and rigorous qualitative interviews with customers while these reforms have generally been welcomed as a way of curbing вЂextortionateвЂ™ and вЂpredatoryвЂ™ lending. We argue that payday financing has grown as a consequence of three major and inter-related styles: growing earnings insecurity for folks both in and away from work; cuts in state welfare supply; and financialisation that is increasing. Present reforms of payday financing do absolutely nothing to tackle these causes. Our research additionally makes a contribution that is major debates concerning the вЂeveryday lifeвЂ™ of financialisation by focusing on the вЂlived experienceвЂ™ of borrowers.