Digitizing and Reinventing baba alajo shomolu Nigeria's Most Famous Thrift Collector idea!

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Please see how it will works and share your advise !
How eMoneyPond works?

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This is the third (or fourth) post about eMoney Pond.
I personally don’t see the reason for the different threads.

You could put this link in any of the previous threads you started.

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This is spam. Without a doubt.

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Hey @JohnEnoh perhaps I’m a contrarian but I seem to profoundly appreciate this concept however; I think emoneypond must come up with a better way to handle defaulters cos Nigeria is a country bedeviled by distrust within and mistrust without.

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Hello @akynesweate
Thanks so much, fine below some highlight on HANDLING DEFAULTERS

  1. Customers cannot join groups with people they don’t know, and equally they cannot invite members they don’t know. This means that all group members should know what they are getting into, and our messaging will be very clear that they should not join groups they cannot afford.
    2.When a user does default we will first notify the user, and try and re-debit the account after some hours. If this second attempt fails we will notify the group of the late payment. After some hours we will try and debit again. If this fails, we will eject the user, blacklist their account and send the remaining group members a message with their options.
  2. we are adding some Defaulters fee payment, Insurance fee etc.
    Thanks so much
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see some ways we are working to solved this also here http://www.emoneypond.com/faq.html
We are also implementing a unique reputation rating features that will allow groups to get the right people!

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I’ve comprehensively gone through the FAQ before I raised d issue of defaulting here. I know it’s rather quixotic to expect a system that’ll absolutely prevent defaults, but apart from the measures above perhaps you could come up with a framework like that of Wonga which coupled with the said ratings will also algorithmically predicts defaulters. I believe there are variables that will work for such.

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@akynesweate Thanks so much please We will really consider that.Also please fee free to share your specific idea to our email here invest@emoneypond.com.