We want to introduce you to two sets of people. They champion a lot of what we are all about at Kaoshi Network — helping family, paying for school, supporting loved ones abroad. Their stories and efforts have shaped us a lot and you could call them our unsung heroes in some way. They are at the epicenter of the platform, essential players in our ecosystem. Meet the Posters and their beneficiaries.
This article kicks off our new series, “Meet The Posters” exploring the people, relationships, and realities that power our community of senders and receivers. Let’s dive in.
WHO IS A POSTER?
Let us do a proper introduction. A Poster is someone who wants to send money from a bank account domiciled in Africa to a recipient living abroad. They are the initiators of the transactions. Maybe they’re sending money to a child in school overseas. Maybe it’s a sibling pursuing a better life, or a friend who needs help settling abroad. The Poster is the one initiating the swap request.
WHO IS A POSTER BENEFICIARY?
Now, on the other end of the transfer is the Poster Beneficiary. Just as the name implies, they are the recipients of the funds from the posters. These ones are based in the diaspora (the U.S., U.K., Canada, etc.), and they are the ones receiving the funds the Poster is sending.
They might be:
- A student receiving tuition money.
- A family member who just relocated.
- A loved one needing help with rent or health expenses abroad.
- A business owner repatriating their profit gained from selling in Nigeria and earning in Naira to USD.
Whatever the situation, Poster Beneficiaries are the reason the Poster acts. Their needs, dreams, and goals are what make the transactions possible. So they go very much hand-in-hand. You can check The Kaoshi Network Glossary to simplify these terms further.
HOW DO THE POSTERS WORK?
Let’s walk through a simple example:
- Chika, a lady in Lagos, wants to send $500 to her brother Emeka studying in the US.
- She logs onto the platform and posts the amount she wants to send.
3. A Matcher in the US matches the offer and sends the $500 directly to Emeka (the Poster Beneficiary).
4. In return, After Kaoshi confirms the money from the matcher has been deposited into Emeka’s account, we automatically credit the matcher’s beneficiary.
5. Everyone wins: Chika achieves her goal, Emeka gets his funds, and the Matcher fulfills their side of the transaction efficiently.
This process aims at cutting down delays and offers a smooth and efficient way of cross-border transaction where everyone understands the part they play.
WHY IT MATTERS?
Over the course of the quarter, we will be taking a look at these special people and why they matter, their experiences, challenges and wins. How they connect, what they gain and how we can help them further. So settle in, this ride is going to be fun.
Are you a Poster or Poster Beneficiary? This series is for you. Stay tuned and stay connected.
And if you’re new, explore how our platform can help you send money smarter, safer, and faster today. Log into kaoshinetwork.com today!
