Overview

“Technology will be the backbone of financial inclusion, banks and fintechs will continue to work together to provide these services,” Tasiu Abdullahi

The future of Africa’s financial system will be driven by cross-border payments, according to Tasiu Abdullahi, the Chief of Staff at KaboCash Technologies. He emphasized the importance of seamless cross-border payments to facilitate trade and investment opportunities among African nations. To address this challenge, the Pan African Payments Settlement System (PAPSS) was launched in Accra in January 2022, aiming to enable financial transactions across Africa and support the African Continental Free Trade Agreement (AfCFTA). Dr Tasiu expressed optimism about additional payment rails complementing PAPSS in the near future to meet the growing demand for cross-border transactions.

Furthermore, he stressed the significance of proper credit analysis and the involvement of the diaspora in achieving financial inclusion. He highlighted the potential contribution of the diaspora through remittances and investments to the growth of the economy. Dr Tasiu emphasized the role of technology in reaching everyone and expanding financial services, stating that technology would be the backbone of financial inclusion. He mentioned the collaboration between banks and fintechs in leveraging technology to provide services such as digital loans and extending financial services to rural areas.

What Is A Referral?

According to Google, a referral is an act of referring someone or something for consultation, review, or further action.

In this context, we can say that a referral is an act of bringing in someone to join the KaboCash app.

What is a referral code?

When a user signs up on the KaboCash app, a unique set of characters, called a referral code is generated for the account. With this referral code, you can invite your friends, your colleagues at work, your neighbors, and not to forget, your family members to join you in the KaboCash app.

To find your referral code, please follow the process below 👇

1. Download and install the KaboCash app or launch it if it's already installed on your device

2. 

   Click on the More button

3. Scroll down and click on referrals

4. 

   Now copy your unique referral code

Share Your Referral Code 💎

Now that you have copied your referral code, it is time to share it with the people that you intend to bring into the KaboCash app. Just give them the code and ask them to enter it exactly as it is, if possible, have them copy and paste it on the signup page.

If this process is followed correctly, you should see the person you referred right on the referrals page with the redeem status as "not redeemed" - this means that we have not yet paid you.

Now, how do I get paid? Let's see how this works below.

How do I get paid?

Our referral system pays 6,000 NGN for each transaction worth up to 300,000 NGN performed by your referee.

Let me explain better.

Assuming that I "Simon Ugorji" referred "Waiswa Donnie" to the KaboCash app. Initially, my referral status will be "not redeemed" because I have not yet received my commission but when Waiswa Donnie performs a single transaction of up to 300,000 NGN, immediately I will receive my commission of 6,000 NGN.

It is important to note that the commission is paid only once for each referree

Having understood the above, let me show you how you can manage your commissions

How do I manage my commissions?

To manage your commissions, head over to the referrals page and you will see the total amount you have earned so far through our referral system and yes, it is that simple!

Here's a quick overview of what the referral page looks like;

CONCLUSION

In this article, we explained referral in the context of our app as inviting someone else into the KaboCash app.

We also talked about referral codes as a set of unique characters that allows you to invite someone and earn a commission once they perform a transaction and we mentioned that referral codes are automatically assigned to every user upon registration.

We emphasized the need to share your referral code "exactly as it is" without modification to ensure that your referral is completed.

Lastly, we explained how the referral system works, how much commission we pay you, and how you can manage your commissions.

I believe that with the write-up above, you can comfortably proceed with your referrals, having understood the logic behind the referral system.

If you do not have a referral code, please make use of "OCTAGON" to be my referee.

Photo credit: Levi Guzman on Unsplash