James, a member of the ‘95 year group of ABC old students association, has just lost his dad. His class mates are seeking to raise some money to help support him. Currently, they use a Momo number and solicit everyone’s transfer funds to that number. There are no controls nor measures to ensure transparency and the right use of the raised funds, except to rely on the personal integrity of the “cash collector”.
How can Chango solve this?
- The executives of the ABC group create a private group on Chango
- They can also create an invitation link and send it to their members in the WhatsApp group. The link can be shared by email, WhatsApp and any other social media platform. Members can join the Chango group by clicking on the link if they already have the app. Otherwise, they will be required to download the app first, and then click on the link to join.
- Members can start contribution for the campaign.
What’s the actual benefit:
- Chango frees the “treasurer” from the burden of accounting for the money.
- Chango gives confidence to all members of the group that the funds raised will be used for their intended purpose
- Chango puts cash out control into the hands of the members or administrators as determined by the group policy at the group creation stage. Cashing out of the money is democratic.
- Chango contributions can be seen by all members in real time
- Chango statements exist and any group member can request for a statement which will be sent to them via email
- There are no costs incurred during cash out.