Ketto Saves Lives By Facilitating Instant Funds Access For Treatment And Other Relief Campaigns With Cashfree Payments

In conversation with Zaheer Adenwala, Co-founder at Ketto, about healthcare crowdfunding, the beneficiaries’ payment experience, and achieving efficiency in ensuring timely funds transfer to patients and their families.

About Ketto

Ketto is one of Asia’s largest crowdfunding platforms that aims to bring monetary support to patients and their families fighting health conditions or natural disasters. Ketto is an online crowdfunding Indian platform where anyone can raise funds for personal, professional, or social causes. 

Ketto is a cause agnostic platform but is there any particular area where you have seen high fundraising activity?`

Zaheer: Ketto always aims to enable everyone who is in need of emergency funds or assistance. We realized that healthcare fundraising was where our platform was most effectively used. Over time Ketto’s mission or vision, in a nutshell, has become, health care for all where we want to bridge the gap between the needy and their shot at getting treatment for whatever disease or illness that they’re going through.

How do you approach payments in a time-sensitive healthcare crowdfunding sector, especially in India?

Zaheer: There has been a growing significance of healthcare crowdfunding in India, especially after the pandemic. This has been mainly because of rising medical costs, lack of health insurance coverage, gaps in the healthcare system, poverty, and the absence of proper social safety nets.

Every year millions of people use platforms like Ketto to start crowdfunding campaigns to fund their medical expenses. During medical emergencies, people expect to raise money faster and pay instantly to access medical treatments. The usual settlements offered by payment gateways across the world are T+3 or T=5, where T is the date of transaction.

This serves as a major bottleneck and can have adverse impact on the timely treatment of patients. 

With Cashfree Payments, Ketto’s major focus has been to help the fundraisers to receive funds as soon as possible as the money is raised. 

With 15 minutes payment gateway instant settlements offered by Cashfree Payments, Ketto is able to enable millions of fundraisers to get access to funds instantly within 15 minutes of accepting online donations. With holiday settlement feature, we are now able to release funds instantly as soon as donation is received even during weekends, non-banking hours, and bank holidays. 

How does Ketto ensures that the payments are going to the right person or beneficiary?

Zaheer: It is very important for us to set the right processes from the beginning so that the money is going for the real cause and the right beneficiaries only. Through different processes, we ensure that the fundraisers are legitimate and the money is getting transferred to the right beneficiaries.

We observed that a lot of beneficiaries were making mistakes while sharing bank details while creating a fundraiser campaign through mobile. This was leading to bank transfer failures and in some cases, the amount was getting credited to the wrong beneficiary account. 

With Cashfree Payments Bank Account Verification feature, we were able to verify if a bank account exists, match the name provided by the beneficiary with the name in bank records, and minimize the failed or transfer reversals in real-time. With Bank Account Verification, we could also verify UPI IDs instantly. This really helped us with accurate payouts by doing beneficiary verification.

 

 

As you are running multiple campaigns how are you managing and recording the incoming payments?

We have been using Auto Collect by Cashfree Payments to collect incoming bank transfers and UPI payments through campaigns. With Auto Collect we are able to create unique virtual accounts  and UPI IDs. The donors can make the payment directly to the account/UPI ID created. All the payments received to the account/UPI ID can be reconcilied automatically helping us manage the payments and settlements in an automated manner.

Just like Ketto, Cashfree Payments has helped 10,000 businesses accept payments. Our tech-first solutions scale with your business and ensure hassle-free payment collection. 

Interested in exploring how Cashfree Payments can help your business?