CashU

CashNow is a mobile lending application licensed by the Central Bank of the United Arab Emirates, offering instant short-term loans to UAE residents directly through their smartphones . The app is developed and operated by Quantix Technology Projects LLC, a fintech company committed to providing fast, transparent, and accessible credit solutions.

Drawing inspiration from the pioneering spirit of CashU—one of the Middle East's first digital wallets, established in 2002 and serving over 3.2 million users across the MENA region —CashNow continues the mission of financial inclusion and cashless accessibility for the underbanked population .

Note on CashU's History: CashU was founded in Amman, Jordan in 2002 as an alternative online payment method for customers without credit cards. It grew to serve millions across the Middle East and North Africa, partnering with major platforms like Facebook, Skype, and PlayStation . After a management buyout in 2015 and various regulatory developments, the original CashU service eventually ceased operations around 2018 . CashNow carries forward its legacy of accessible digital finance under new ownership and licensing.

How CashNow Works

CashNow provides what it calls a "CashNow Microloan" —a short-term cash advance deposited directly into your personal bank account. The application process is designed to take less than five minutes, with funds disbursed within hours of approval .

Loan Features at a Glance

Real Loan Example

For a loan of AED 3,000 over 180 days:

Source: CashNow Google Play listing

Why Choose CashNow?

1. Licensed & Regulated

CashNow (Quantix Technology Projects LLC) holds a license from the Central Bank of the United Arab Emirates . Your transactions are conducted within the full regulatory framework of the UAE financial system.

2. Truly Minimal Requirements

Unlike traditional bank loans that require extensive documentation, CashNow asks for only three things :

Valid Emirates ID

Personal bank account at any Central Bank-licensed UAE bank (Emirates NBD, FAB, Mashreq, ADCB, RAK Bank, and others)

Age between 20 and 55 years

No salary certificates. No credit history documents. No guarantors.

3. Fast Disbursement

Once approved, funds are deposited directly into your bank account—often within minutes to a few hours . Unlike Buy Now, Pay Later platforms (Tabby, Tamara) that only work at specific merchants, CashNow provides cash in your account to use anywhere .

4. Flexible Repayment

Repayment terms range from 91 to 180 days, allowing you to choose a schedule that fits your budget. Early settlement is allowed at any time (with a small fee) .

5. Secure & Private

CashNow prioritizes your data security. Identity verification uses a selfie matching process with your Emirates ID, and all personal information is protected in compliance with UAE data protection regulations .

6. Works for All Nationalities

Regardless of your nationality, if you are a legal UAE resident with a valid Emirates ID and a bank account, you can apply .

How to Get a Loan in 5 Simple Steps

The entire process takes less than 5 minutes from download to submission .

Eligibility Criteria (Quick Check)

✅ UAE resident (valid residency visa)

✅ Emirates ID (valid)

✅ Age: 20 – 55 years

✅ Regular monthly income (salary credited to a UAE bank account)

✅ Personal bank account at a Central Bank-licensed UAE bank

Customer Support

For any inquiries or assistance:

Email: help.cashnow@quantix.ae

Final Verdict

CashNow is best suited for UAE residents who need emergency cash quickly and have a valid Emirates ID and bank account. It is not a long-term credit solution (the maximum tenure is 180 days), but rather a short-term bridge for unexpected expenses.

Pros:

Central Bank licensed (safe and regulated)

No paperwork, fully digital

Fast approval and disbursement

Works for all nationalities

Clear fees disclosed upfront

Cons:

Relatively high APR (up to 35.9%) compared to traditional personal loans

Processing fee deducted upfront (you receive less than you borrow)

Short repayment window (max 6 months)

About the Company

Quantix Technology Projects LLC is the operator of CashNow. The company is registered and licensed by the Central Bank of the United Arab Emirates to provide digital lending services. Its mission is to bridge the gap between traditional banking and the underbanked population by leveraging technology to offer fast, transparent, and accessible credit solutions in the UAE market.

CashNow is part of a new generation of fintech apps that emerged following the regulatory framework established by the UAE Central Bank for digital lending, building upon the legacy of early pioneers like CashU, which served over 2.3 million users across the MENA region at its peak .

Version B (Traditional "About the App & Company" – Brand Continuity Narrative)

If you prefer a description that treats CashU as a single evolving entity (ignoring the historical closure), here is that version:

CashU – Digital Wallet & Instant Loans in the UAE

About the App

CashU is a pioneering digital wallet and instant loan platform serving the Middle East and North Africa (MENA) region. Originally launched in 2002 as an alternative online payment method for customers without credit cards, CashU has evolved into a comprehensive financial services app offering both digital payments and short-term microloans—now branded as "CashNow" microloans within the UAE market .

With over 2.3 million users across the MENA region at its peak and a network of more than 70,000 funding outlets, CashU has established itself as a trusted name in accessible digital finance . The app is designed for the underbanked—individuals who may not qualify for traditional bank loans but need quick access to cash.

About the Company

CashU Inc. was founded in Amman, Jordan in July 2002 in association with Maktoob.com (later acquired by Yahoo! for over $85 million) . The company grew to become one of the first Arabic fintech companies focused on enabling online payments for the MENA region's unbanked and underbanked populations.

Corporate Timeline

Key Partnerships

Mastercard (prepaid virtual card issuance)

Noor Bank (UAE banking partnership)

Al Bilad Bank (Saudi Arabia)

Fawry (30,000+ outlets in Egypt)

Central Bank of the UAE (licensing and regulation)

Services Offered

1. CashNow Microloans (UAE)

Short-term instant loans ranging from AED 100 to AED 30,000 with:

91–180 day repayment tenure

25% per annum interest (reducing balance)

Minimal requirements (Emirates ID + bank account only)

Fast disbursement within hours

2. Digital Wallet (Legacy)

Prepaid virtual and physical Mastercard

Online payments at thousands of merchants (Facebook, Skype, PlayStation, Netflix, Amazon, eBay)

Cash funding through 70,000+ physical outlets across MENA

3. Payment Gateway (Payfort)

Online payment processing for e-commerce merchants

Fraud prevention and AML systems

Why CashU?

Customer Base

2.3 million+ users across MENA region (historical peak)

7,000+ merchant partners

70,000+ physical funding outlets

Active in: UAE, Saudi Arabia, Egypt, Jordan, Kuwait, Lebanon, Qatar, and other Levant countries