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According to the firm, payday loans are one of the fastest growing UK consumer finance products.

They are usually short-term loans between £80 and £1,000 and aimed at borrowers who live on a tight budget but need money to tide them over until payday.

The application process for the loans can be done online and the funds are deposited into the borrowers account on the same day. Once they are paid, the lender debits the repayment amount from the customers account.

Leadpoint managing director Nick Chapman said: "Leadpoint has already established itself as a major player in the online payday leads market in the US and with the launch of the payday lead vertical in the UK we hope to achieve the same success."

Leadpoint also trades mortgage, insurance and debt product leads and is currently trading around 1,500 leads a day.