A Cash Advance is a facility made available to qualifying cardholders at any U.E.P.S. ATM and POS device at participating bank branches, merchant stores and micro-financier offices in urban, semi rural and rural areas.
A key feature in the U.E.P.S. is its Offline transaction processing ability. Cash Advancetransactions are processed Offline when requested by smart cardholders and Online when requested by mobile phone account holders.
A Cash Advance is granted to an individual who is employed on a permanent basis, or who receives a sustainable monthly income such as a pension payment. The reason for this requirement is to minimize the risk associated with Cash Advances (i.e. loans) made to these individuals.
A Cash Advance is a small loan or advance on the individual's salary/wage/pension. It simplifies the normal process of obtaining micro-loans by taking the form of an advance granted by the employer to an employee based on their salary/wage/pension to be paid.
It also eliminates the need to visit and queue in banking halls, complete qualification processes and application forms, and dispenses with the need for the client to return a few days later in order to collect the micro-loan once approval has been granted.