A novel funds contributions platform – groupInns, has been launched in Accra.
groupInns is an innovative way for a group of people to come together to contribute directly from their mobile money wallets, bank accounts, Visa or MasterCard.
groupInns is a crowd-funding solution that allows groups of people to form ‘Inns’ (groups) and contribute money towards a project, cause, activity or an idea.
Culturally, Ghana is communal in many areas and with this lifestyle, there is almost always a need to contribute towards something, hence the platform targets foundations, old students’ associations, religious groups, families, group of friends, union groups.
Users can join the platform by simply dialing a USSD Short code (*718*30#) straight from their mobile phones or by downloading the android version of the app from the Google play store.
According to the Head of Business Center at groupInns, Miss Jessica Fleisher-Djoleto, “the unique platform allows contributions directly from mobile money wallets (irrespective of the telecommunication network), bank accounts or via Visa or MasterCard”.
She said the solution was ideal for charities who want to raise funds. Over 500 groups, both private and public have been formed on groupInns so far, according to Miss Djoleto. In order to be verified as a public group, institutions will be required to present their company registration documents for authentication.
groupInns runs on Nsano Limited’s Fusion Engine which enables funds transfer across different electronic payment platforms.
groupInns is highly secured and members of a group need to confirm with their PIN before any withdrawal is made from their wallet. Inn members can view the total amount that the group has realized as well as what they themselves have contributed.
Also the group admin can only withdraw from the contributions with approval from two other members of the group.
groupInns leverages on mobile financial solutions to make group contributions or crowd-funding smarter, more convenient and hassle-free. Miss Jessica Fleisher-Djoleto was optimistic that groupInns will change the face of crowd-funding in Africa.
Source: Graphic