Pooling resources for various campaigns has become significantly easier with the introduction of the GhanaPay Crowdfunding feature. This service provides a transparent way to pool resources/funds for projects with audit trails that ensure every pesewa raised can be accounted for.

The Crowdfunding feature on GhanaPay allows users to create or join groups aimed at pooling resources for a wide range of campaigns or projects, including personal, business, or charitable endeavours on the GhanaPay platform. Alumni associations, church groups, and other organizations can leverage this feature for fundraising and dues collections. GhanaPay customers can set up groups and launch campaigns by specifying project details, fundraising goals, approval policies, timelines, and then share the campaign link for contributions. There is no limit to the number of contributors per campaign.

Samuel Darko, Head of GhanaPay at Ghana Interbank Payment and Settlement Service (GhIPSS), explained that crowdfunding and various group fundraising activities have become common, but many people have shied away from these activities due to the lack of transparency in the fundraising process. The GhanaPay Crowdfunding service addresses this shortfall, he stressed.

“To participate, users must log into the GhanaPay app, navigate to 'Other Services,' choose 'Crowdfunding’, select a group or campaign, and follow the prompts to contribute,” Mr. Darko said. The service includes built-in systems to check abuses, with withdrawals requiring approval based on group administration policy. Members can also independently opt out of campaigns anytime by selecting the group in the app's Crowdfunding section and using the exit option.

Mr. Darko emphasised that GhanaPay is suitable for crowdfunding and will give contributors confidence to support campaigns run on the platform. GhanaPay is similar to regular mobile money services but is a shared service provided by universal banks, savings and loans institutions, and rural banks. These financial institutions leverage their expertise to offer services not available on other mobile money platforms, enabling GhanaPay customers to enjoy banking and mobile money services simultaneously.

Since its introduction, new features continue to be added to GhanaPay mobile money. These include Sponsored Wallet, Standing Instructions, Merchant Payments, Bill Payments, and a higher-yielding savings wallet in addition to regular mobile money services such as transfers and withdrawals. GhanaPay transactions do not attract charges except for the e-levy, which applies in some cases.