I won't argue that the availability of payloans (or any other product) is a net positive for the rational consumer. I'd still be willing to bet that (ceteris paribus) a society like the ones we live in is better off without them than with.

(Coda: You might say that's impossible, and local loan sharks will spring up to meet the need. That's probably true, but at least those guys merely break your legs, rather than advertising incessantly on daytime tv.)