I wish reporters were more clear about the terms of these so-called payday loan “alternatives.”   From a story out of Seattle: 

Its short-term loans have 15 percent interest rates, but 5 percent of that goes into the client’s savings account upon repayment. The loans can be paid off in 90 days, rather than the two weeks required by many payday-loan stores. Payday loans, by contrast, have interest rates as high as 390 percent.

If it’s a 90 day loan and has monthly payments (not clear) than it’s an installment loan, not a payday loan alternative.