Incash

1. What is Incash?

Incash Inc. is a Delaware-based fintech company headquartered in the United States, established to provide convenient access to earned wages for salaried employees, specifically focusing on the African market. Launched in 2021, Incash was founded with the mission of empowering employees by offering them real-time access to their wages. This service aims to reduce the financial stress associated with the traditional monthly pay cycle, allowing employees to access their earnings on-demand before the designated payday.

Through partnerships with reputable, registered financial institutions, Incash operates as a financial wellness service for employers and their workforce. Employers who partner with Incash can set specific limits on the portion of earned wages employees may withdraw within a monthly cycle. This gives organizations greater control over financial operations while supporting employees' access to earned funds. This initiative reflects Incash's commitment to enhancing financial accessibility and well-being for salaried workers.

2. Why Incash?

Incash offers a unique solution for employees to access their earned wages early, charging only a one-time transaction fee for each advance taken. This transaction fee model eliminates the need for high-interest loans that often put individuals in a cycle of debt. Additionally, Incash provides an interest-free repayment period, giving employees the flexibility to align their income with their financial obligations without additional financial burden.

The service disrupts the traditional monthly pay cycle, allowing employees to better match their income flow with day-to-day expenses. By doing so, Incash helps to reduce employees' dependence on unregulated short-term loans or informal borrowing options that come with high-interest rates. This approach promotes financial independence and stability, which is central to Incash's vision of a financially inclusive workforce.

3. Who Can Use Incash?

Incash is a specialized service designed exclusively for employees of companies that have established partnerships with Incash. It operates as a closed marketplace, not open for public access or general use. To become eligible for Incash’s services, an employee must:

• Be actively employed by a partner company for a minimum of three months.
• Have signed an employment agreement with their employer.
• Complete a full Know Your Customer (KYC) verification process.

This closed and secure framework ensures that only verified employees of partner companies can access Incash’s services, thereby maintaining high standards of security and compliance.

4. What Services Does Incash Provide?

Incash offers a primary service that allows employees to track and access their earned wages whenever they need, without waiting for the scheduled salary day. This flexibility enables employees to manage unforeseen expenses or adjust their cash flow according to personal needs. Using the Incash app, employees can conveniently request and receive salary advances at any time before payday, empowering them to manage their financial responsibilities on their own terms.

5. Are There Any Fees & Charges Involved?

As a “salary-on-demand” product, Incash allows employees to access up to NGN 100,000 in earned wages from their Incash credit line. Each withdrawal incurs a one-time transaction fee ranging from NGN 500 to NGN 2,000, inclusive of VAT. There is no interest charged on these withdrawals, providing a cost-effective option compared to traditional short-term loans. Repayment terms are aligned with the user’s salary cycle, meaning that any advances taken are deducted on the next scheduled payday, ensuring a seamless repayment experience without lingering debt.

6. How Does Incash Ensure Data Security?

Incash takes data security and user privacy very seriously. Users have the right and ability to delete their personal data from Incash’s databases whenever they wish. Furthermore, Incash’s internal policies ensure that employees of the company do not have access to sensitive customer information, infrastructure, network security, or data ownership rights.

For more detailed information about how user data is handled, Incash provides a comprehensive Privacy Policy and Terms & Conditions, outlining the measures taken to safeguard users’ data and protect their privacy.

7. How Can You Contact Incash Customer Support?

For any inquiries, concerns, or assistance with the service, Incash provides customer support through the following channels:

• Email: support@incash.africa
• Phone: +234 812 210 9900

The support team is available to help users with any questions regarding service access, fee structure, data privacy, and other related inquiries.