Kulu Individual 1.1.11

Kulu is a fintech application that facilitates a variety of innovative financial transactions, catering to multiple user segments, including individuals, agents, merchants, and businesses.

The platform emphasizes high security standards, effectively preventing scams and fraud while adhering to anti-money laundering (AML) and combating the financing of terrorism (CFT) regulations.

For Individuals

Kulu offers a streamlined interface for individuals to manage their financial needs easily. Key functionalities include:

• Cash-In: Users can deposit funds into their Kulu wallet at any Kulu Agent location, easily located via the app’s map feature.
• Money Transfers: The app allows instant money transfers to registered and non-registered mobile numbers.
• Merchant Payments: Individuals can make purchases by scanning QR codes at various vendors, including grocery stores, gas stations, and restaurants. Payments to business partners and online vendors can also be executed swiftly.
• Utility Bill Payments: Users can settle utility bills, purchase airtime, and pay school fees directly from their devices.
• Cash Out: Withdrawals can be made conveniently through a broad network of Kulu Agents.

Kulu offers two distinct profiles for individuals:

1. Trial Profile: Available upon self-onboarding, this profile has transaction limits capped at GNF 50,000.
2. Basic Profile: To access this profile, users must submit legal documentation such as a National ID and Passport.

For Agents

Individuals who submit the necessary legal documentation can become Kulu Agents. These agents earn commissions through various transactions, which include:

• Cash-In: Assisting individuals in depositing money into their Kulu wallets.
• Cash-Out: Facilitating withdrawals for individuals.

Kulu Agents can process transactions using their phone number, wallet number, or QR code. Additionally, they may earn commissions by registering individuals under the Basic profile or upgrading those on the Trial profile to Basic status. A map feature aids in locating nearby Kulu Agents.

For Entrepreneurs (Informal Merchants)

Entrepreneurs using Kulu are defined as individuals or business owners who accept payments through the platform and possess a registration number. This category includes moto taxi drivers, shop owners, and small business operators. Interested parties are encouraged to apply for their status as Kulu Entrepreneurs.