Kulu 1.4.4

Kulu represents a notable advancement in the Fintech sector, catering to a diverse range of users, including individuals, agents, merchants, and various business entities. The application is thoughtfully designed to facilitate a variety of transactions while prioritizing high security standards to combat scams and fraud, adhering to Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) regulations.

For Individuals

Kulu allows users to conduct financial transactions with ease and security directly from their mobile devices. Key functionalities available for individual users include:

• Cash-In: Users can deposit funds into their Kulu wallets through a network of Kulu Agents, conveniently located via an interactive map.
• Money Transfers: The platform enables instant transfers to any registered mobile phone number, facilitating quick and efficient support for loved ones.
• Merchant Payments: Users can seamlessly conduct payments by scanning QR codes at various venues, including grocery stores, gas stations, restaurants, and more.
• Cash Out: Withdrawals can be made easily at any participating Kulu Agent, ensuring wide access for users.

Kulu offers two main tariff plans for individuals:

• Trial Plan: This introductory profile allows self-onboarding for transactions up to GNF 50,000, with restrictions on the number of transactions permissible within a given timeframe.
• Basic Plan: To upgrade to this profile, users must provide legal documentation, including a National ID Card and Passport.

For Agents

Individuals who submit the required legal documents may become Kulu Agents. These agents earn commissions through the following transactions:

• Cash-In: Agents facilitate deposits into Kulu wallets for individual users.
• Cash-Out: Agents assist users in taking withdrawals from their accounts.

Kulu Agents can perform these transactions through their mobile numbers or wallet numbers or by scanning QR codes. Furthermore, agents can earn additional commissions by transitioning individuals from the Trial Plan to the Basic Plan or by enrolling new users directly into the Basic Plan. A dedicated Kulu Agents Map makes locating agents straightforward for all users.

For Entrepreneurs (Informal Merchants)

Kulu extends its services to entrepreneurs who accept payments through the platform. This includes merchants or business owners possessing a registration number. Individuals such as moto taxi drivers, shop owners, and those managing small-scale businesses like restaurants or grocery stores are encouraged to apply to join as Kulu Entrepreneurs.