Financial institutions offer many ways of acquiring a payday loan by phone. The two major ways are the manual approach for loan and the online approach of acquiring. The payday loans by phone are those kinds of loans where the borrower applies for his loan through phone calls. Online submissions of loan applications are more easier and time saving than that of the traditional manual submission. But in the case of those borrowers who live far from the loan issuing institution, online application submission is considered to be more flexible and time saving. People who stay very near to a financial institution may opt for a manual form submission of form to acquire a loan. This may provide them with the satisfaction of a more secured means of data submission. Through a manual form submission, the borrower or the loan acquiring customer may need to wait for a long time along the queue for loan needs.