The basic loan process involves a lender providing a short-term unsecured loan to be repaid at the borrower's next payday. Typically, some verification of employment or income is involved, but some lenders may omit this. Individual companies and franchises have their own underwriting criteria. In the more recent innovation of online payday loans, consumers complete the loan application online. The loan is then transferred by direct deposit to the borrower's account, and the loan repayment and/or the finance charge is electronically withdrawn on the borrower's next payday. According to one source, many payday lenders operating on the internet do not verify income.