The Office of Fair Trading has estimated that the payday loan market was worth £2.0 to £2.2 billion in 2011/12, which corresponds to between 7.4 and 8.2 million new loans.
This figure is up from an estimated £900 million in 2008/09.
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The prince laid a floral wreath at one of a group of metal crosses near Wellington Arch in central London.
The group, which also owns Premier Inn, said on Wednesday that it will pursue a ‘demerger of Costa’.
The showers will become more frequent as the day goes on, giving some heavy downpours in places during the afternoon.