Ketto needed a payment provider to reliably convert USD donations to INR and quickly distribute funds to beneficiaries in need. Speed and accuracy were critical, as their operations often involve time-sensitive medical cases.
About Ketto
Ketto, short for “Key to Tomorrow,” is a fundraising platform for underprivileged individuals needing medical treatment. Based in India, it allows users to create campaigns, share them on social media, and collect donations globally. When beneficiaries lack promotional resources, Ketto handles content creation and advertising. Primarily focused on medical fundraising, it supports individuals and hospitals across India with donations from 7.2 million donors.
The Challenge
Ketto required a solution to address the delays and inefficiencies of its previous payment process. As an Indian company handling USD donations, Ketto was required to process foreign payments through its US subsidiary, which presented logistical challenges.
“In our cases, the people in need are often critically ill. They require funds immediately. Delays are unacceptable, and we needed a solution that offered speed, accuracy, and reliability,” explained Neha Chauhan, Vice President of Finance in Ketto.
Ketto previously relied on traditional banks for payouts. These institutions lacked dedicated support and relationship management. The process was slow and heavily reliant on manual entry, increasing the risk of human error. Not to mention when the unlikely became a reality and a banking provider failed in the market.
“One major challenge we encountered was using a traditional bank that collapsed. With everything that happened, we could not make payouts. And because everybody is based in India, we don't have a physical presence in the US. In our case, the people who need funds the most are those who are dying. They need funds now. Or they needed funds a week ago, and you cannot reason with that person, 'Okay, banking regulations are causing the delay in receiving the funds,' or 'It got stuck in the transfer for whatever reason.'”
TransferMate’s streamlined payment process eliminated these delays and provided the clarity and speed Ketto required to meet their beneficiaries’ urgent needs.
The Solution
TransferMate offered Ketto a robust platform to simplify converting USD to INR and efficiently distribute funds. Integrating a file upload system replaced the manual entry of beneficiary details, reducing both time and errors.
“In TransferMate, it's a very simple system. We download an excel template from the platform and have configured this template in our internal system. One person uploads the data, I approve the transaction, and the payments are ready. You don't have to add every single beneficiary one by one. When it was done manually, there were instances where you were supposed to pay $1,000 and ended up paying $10,000. None of those challenges are there with TransferMate.”
The speed of payments became a critical benefit for Ketto. With TransferMate, funds reach beneficiaries within 24 hours, compared to the previous delays with previous payment providers.
“In our case, the main thing is that money has to arrive on time. And with TransferMate, we’ve never seen a situation where it has not reached on time. The timing is very fast. Today, I process the transaction. Tomorrow, the person will get the funds. Whereas in the case of banks, it doesn't reach them the very next day. It reaches the day after at the earliest.”
Ketto found that TransferMate’s existing file upload system seamlessly complemented their processes. The addition of automated email confirmations improved transparency and ensured payments could be easily reconciled.
“There is an automated email that reaches us confirming the payment details. The transaction is done. So, everything is sitting in your inbox. You don't have to log in again to check what happened and where this transaction went. It’s all very easy.”
The Results
TransferMate’s partnership with Ketto delivered significant improvements across their operations, particularly in terms of efficiency and reliability. By automating the payment process, Ketto eliminated manual entry and reduced the risk of errors.
“What we found in the past is, what if you add a wrong beneficiary account detail, or you add an extra zero in the bank account, you omit a number - that kind of thing. It’s tedious and takes at least two minutes for every beneficiary. With TransferMate, we’ve saved around half an hour to add those beneficiaries daily. Our team is happy because they don't have to waste their time adding beneficiaries or repeatedly rechecking to ensure they have not missed anything or entered a wrong digit.”
Beneficiaries now receive their funds promptly, significantly improving Ketto’s reputation and strengthening relationships with their users.
“There are multiple things. One is accuracy because you are not doing anything manually. The second is speed. You are getting the payments on time. The third is user experience. In our case, and I think for any business, user experience is the most important thing. In the past, people continuously followed up that their payments were not credited to their bank accounts. Now, with TransferMate, they don't have to follow up. They say, 'Okay, my payment has come on time.’”
The Final Word
“For us, speed and accuracy are paramount. With TransferMate, we’ve achieved both and a seamless user experience for our team and beneficiaries. We’d recommend TransferMate to anyone in need of reliable and efficient payment solutions.”
- Neha Chauhan, Vice President Finance, Ketto
Contact TransferMate and start saving time in your international payables and receivables process today.
