Our Brassica App has two aspects – an investment part operated by Brassica Capital and a payment part operated by Brassica Pay. To sign up for our Spend and Invest service, you must first sign up to use the “pay” part of the app to pay for services and send money.

You then proceed to create a collective investment scheme account with Brassica Capital by tapping the Round-up toggle or the Invest Tab on the home page of the Brassica Pay side of the app.

After creating your investment account, you proceed to set up your Round-up.  See below for details:

If in setting up your Round-up feature, you for instance you select the percentage round-up type and you set your round-up at 10%, then it means any transaction you do on the Brassica Pay side of the app, 10% of any transaction will be deducted from your source of fund as part of the total cost of the transaction. This amount is directly and automatically sent into your investment account and invested to generate returns for you.

Round up is a feature that is key to our “Spend & Invest” model.  The essence of this feature is to make investment effortless. You do not have to make a conscious effort to put money aside always in order to invest. As you spend daily on the things you love, Round Up ensures that you are contributing a portion of each of your daily transactions towards investment, helping your take control of your future. The round-up feature is on the Brassica Pay side of the app as a toggle and on the Brassica Capital side of the app as a tab on the homepage.

Change Round-up

With this type of round-up, each transaction of a client is rounded up to the nearest whole number.  The total of the rounded-up figure (cost of item being paying paid for or value of money being sent + all service and statutory charges + rounding amount) is then deducted from the client’s source of fund (the account from which the client will be making payment for the item). The rounding amount is then sent directly and automatically sent into your investment account. This increases your size of your investment and the possibility of getting higher returns.

Example
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Let’s say Paul wants to pay for a pair of shoes he is buying online using Brassica. The cost of the shoe is Ghs 250. Below will be the breakdown of the entire transaction plus how much will be invested for Paul

Percentage of Transaction Round-up
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Under this type of round-up, the client chooses a percentage will be applied to the value of each transaction. The resulting amount is then added to the total cost of the transaction (including all telecoms and statutory charges) and deducted from the client’s source of fund (the account from which the client will be making payment for the item)

Example
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Let’s say Jerry wants to pay for a pair of shoes he wants to buy online using Brassica. The cost of the shoe is Ghs 300. Below will be the breakdown of the entire transaction plus how much will be invested for Paul

Clients have the flexibility of turning off and on the round-up feature on the Brassica App on Brassica Pay, anytime they want to perform a transaction.

At the point of payment, the total cost of the transaction (I.e.., cost of item + all charges + rounding up amount) will be shown to the client. The client knowing the total balance in their source of fund (mobile money or bank account) will then allow the round-up feature to be on if there is enough balance or turn it off if there isn’t enough balance.

If you turn the round-up feature off at that point, your transaction (your payment) will go through. However, if you do not turn it off then your payment will not go through.

Adjusting Percentage – Clients have the flexibility of adjusting their round-up percentages either upwards or downwards. Follow in-app instructions to adjust.  

Switching Round-up Type – Under this setting, clients on percentage round up can switch to change round-up. Clients on change round-up can also switch to percentage round-up.