Send Now, Pay Later (SNPL) and Earned Wage Access (EWA) Services

The Send Now Pay Later (SNPL) and Earned Wage Access (EWA) services are designed to offer immediate financial support to eligible Al Ansari Exchange WPS Payroll/Payplus card holders, specifically targeting lower-income employees. Employees can access these services through Al Ansari Exchange branches.

Features of the Product
Instant Access to Earned Wages	WPS Payroll/Payplus card holders can access a portion of their earned wages before payday, providing financial flexibility in emergencies or for planned expenses.
Cash or Transaction Settlement Option	Customers may choose to receive the advance in cash or use it to settle transactions conducted at Al Ansari Exchange.
Benefits	• Immediate access to funds for emergencies or daily expenses. • Avoidance of high-interest payday loans. • Improved financial wellness and reduced stress.
Automated Disbursement Process	The entire disbursement is handled in a fully automated environment, ensuring speed, accuracy, and minimal manual intervention.
Repayment via Next Salary Cycle	The advance is automatically recovered during the next payroll cycle, simplifying repayment and reducing the risk of default. Employees may choose to make early or partial repayments at any time before the salary cycle, providing flexibility and helping reduce the outstanding balance sooner.
Secure and Compliant	1. The process complies with regulatory standards and ensures secure handling of customer data and funds.
Service Restriction	2. The service is limited to active Al Ansari Exchange WPS Payroll/PayPlus VISA card customers only.
Service Charge	The Service Charge is calculated as 5% plus VAT on the principal advanced amount.
Late Payment fee	You may be charged a late payment fee by the service provider in case of loan repayment not being completed within the defined period of the loan agreement. You may refer the KFS/Terms & conditions of the service provider for more details.
Consequences of Non-Payment	3. Any delay in payment by the customer is considered as Defaulter and customer may have to settle with a late payment fee.

Eligibility Criteria
Salary Consistency	• Salary should be consistently transferred through Al Ansari Exchange WPS.
Identification Documents	• Valid Emirates ID • Active customers on Al Ansari Exchange WPS system only.
Salary Processing	• Last salary credited in 45 days.

Disclaimer: Eligibility criteria mentioned here are subject to change and may differ based on the policies of each service provider.

All matters related to eligibility verification, documentation, approval and repayment terms are handled exclusively between the Lending Institution and the customer.
Al Ansari Exchange acts solely as a cash disbursement agent for advances against earned wages (SNPL/EWA) approved by a Lending Institution.
Disbursement may be made in cash or used to settle a transaction conducted by the customer at Al Ansari Exchange.
The advance is to be repaid during the next payroll/salary cycle or credit to the payroll as per the agreement between the customer and the Lending Institution.
Al Ansari Exchange shall not be liable for any customer claims or disputes related to the advance, except in cases where the dispute pertains to a transaction conducted at the Exchange House that was settled using the approved advance.
Important Notice: By requesting the service, you confirm that you understand, accept and agree to comply with the Terms and Conditions.
The customer agrees to provide consent for placing a standing instruction to recover the advance amount from the upcoming salary cycle, by sharing a One-Time Password (OTP) with AAE. This standing instruction will remain valid for a maximum of 90 days from the date of disbursement or until full repayment, whichever occurs earlier.
Customers utilizing Earned Wage Access (EWA) or Send-Now-Pay-Later (SNPL) services are subject to the terms and conditions and key fact statements issued by the respective third-party lending institutions. Al Ansari Exchange LLC (AAE) facilitates these services in accordance with its formal partnership agreements and applicable regulatory obligations. AAE does not assume responsibility for the execution or accuracy of third-party lending decisions, it remains accountable for the cash disbursement and service facilitation aspects of the transaction.
Important Notice: Be alert for any scam emails like phishing, advance fee scams, lottery, rewards, fake SMS alerts, etc. Never disclose your card, account, or OTP details to anyone who contacts you. Customers are advised to contact the source directly and verify these calls or messages. Be vigilant, be safe.
Al Ansari Exchange LLC will provide customers with a minimum of 60 calendar days’ notice before changes to the terms and conditions, including changes to service charges or fees.
Al Ansari Exchange retains the right to amend the terms and conditions to comply with local laws or internal policies. Customers will be informed of any such changes via the website, branch disclosures, or electronic facilities.
Please read the Terms & Conditions and Privacy policy available on our website alongside this Key Fact statement.
For further inquiries and details on terms and conditions of all Al Ansari Exchange LLC products and services, please visit our website (www.alansariexchange.com) or call: 600 54 6000 or email us at [email protected]