m via mobile money kingston final
TRANSCRIPT
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 1/21
Banking the Un Banked through MDR & Domestic
P2PAll Contents Confidential
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 2/21
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 3/21
Business Highlights
Nationwide cash acceptanceagreement for m-Via customers with7-Eleven Corp’s 6,000 Locations.
Nationwide network cashacceptance agreement with networkof 8,000 bill payment centers
Entered agreements with leadingProcessor and banks for Re-
Loadable Debit in Spring 2011
• Creation of m-Via FOUNDATION forserving those whom need it most.
• Experienced Mobile &
Financial Services Leadership
Team. Founded early 2008
Funding to date $23M.
• MoMex (Mobile Money
Exchange) Platform Beta Test
& Release
• Greater Los Angeles Soft
Launch in 2010, generated
meaningful base of loyal
customers and millions in
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 4/21
Operations
Regulatory Compliance
Fraud & Risk Management
Technology
Anti Money Laundering
Simple UserExperience
Messaging
Quality of Service
Pricing & Revenue Model
CustomerAcquisition
Understanding customer
Real Time Settlement
Banking & MFI Relationships
Exchange Rates
Security
Third Party Integration
Distribution
Cash Network
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 5/21
Existing Money TransferEcosystem Summary
1.High Risk, (For Entire Value Chain)
2.High Cost, (For Entire Value Chain)
1. Inefficient. (For Entire Value Chain)
1.Ripe For Disruption
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 6/21
Gartner Identifies the Top 10 Consumer Mobile Applications for2012
No. 1: Money Transfer ( m-Via Calls this Mobile Directed Remittances ) MDRThis service allows people to send money to others using Short Messaging Service (SMS). Its lower costs, faster speed
andconvenience compared with traditional transfer services have strong appeal to users in developing markets, and most
servicessigned up several million users within their first year. However, challenges do exist in both regulatory and operational
risks.Because of the fast growth of mobile money transfer, regulators in many markets are piling in to investigate the impacton consumer costs, security, fraud and money laundering. On the operational side, market conditions vary, as do the
localresources of service providers, so providers need different market strategies when entering a new territory.
No. 6: Mobile Payment ( m-Via Calls this Domestic Person to Person Mobile Banking ) P2PMobile payment usually serves three purposes. First, it is a way of making payment when few alternatives are available.
Second, it is
an extension of online payment for easy access and convenience. Third, it is an additional factor of authentication forenhanced
security. Mobile payment made Gartner’s top 10 list because of the number of parties it affects — including mobilecarriers,
banks, merchants, device vendors, regulators and consumers — and the rising interest from both developing anddeveloped markets. Because of the many choices of technologies and business models, as well as regulatory
requirements andlocal conditions, mobile payment will be a highly fragmented market. There will not be standard practices of deployment,
soparties will need to find a working solution on a case-by-case basis.
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 7/21Both X-Border M.D.R. and Domestic P2P
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 8/21
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 9/21
User Experience
Sender
1. First Time Sign-up Via CallCenter: Retail Package
2. Load cash via authorizedretailer to m-Via Wallet
3. Transfer $ via Call Center,(Text, IVR or Mobile Web)
m-Via Call Center
- 24/7 Spanish (ESL)- Initial Registration & KYC- On going Customer Support
m-Via MoMex Platform routes TXN
- Text, Mobile Web, IVR
Recipient
- Receives Text notification
Funds Available Immediately
- Save- Re Distribute- Withdraw- Spend
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 10/21
Mobile Experience Today
• Text Notification of Funds Received orDeposited
•Account Balance & History, Request Pay
• Initiate Real-time X-Border M.D.R.* Unlimited US Send to Mex Recipients
• Initiate Domestic P2P Transfers* US to US & Mex to Mex
• Live Operator, SMS, IVR, Native Browser
• Query Nearest m-Via Authorized Location―Cash In or Cash Out‖
Account Management
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 11/21
m-Via US SenderBased One to Many M.D.R. Model
$300
$ 0
> $160
> $85
> $55 $300 Net
• m-Via US Customer can send as often as they like, to as many people as they want.
• Typically remits to Mex 3 to 4 X per/mo for total of $280 to $420 per months,
• m-Via is the first viable, in market solution for Micro Remits >$20 to $80
• Funds delivered instantly with SMS delivery confirmation.
• Funds remitted directly from debit account or loaded at any authorized m-Via retaillocations
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 12/21
• Addresses all key pain points (travel, safety, cost & flexibility).
• Lays groundwork for financial inclusion, micro loans, commerce etc. new service offerings.
• Both service & experience are designed for viral adoption.
• m-Via truly ―empowers‖ recipient.
• Introduction of Debit card will exponentially increase customers quality of life through savings, convenience and safety * Similar to direct payroll deposits and the online banking benefits many of us have enjoyed since mid 90’s
m-Via P2P ―Recipient‖ Experience
FREE P2P Mex >MexRe Remits
SMS CashOut > Clabe
Cash Back WithPurchase @ Grocer
ExistingNetwork +
M-Via Enabled DDA Account Spring 2011
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 13/21
Summary
• Address’s real customer pain, Specifically addresses needs and empowers
unbanked market.
• M.D.R. is a natural catalyst for successful P.2.P
• P.2.P enables commerce, trade > savings & credit > business > economicgrowth opportunities.
• Platform approach provides partners with quick market entry, low TCO , solidROI
• Metcalf's Law applies w/each new market & customer added to system.
• Third Party MDR API’s available for interested recipient markets - now
• Third Party P2P API’s for recipient country in beta – now
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 14/21
Thanks & Contact
Info• Peter Kelly Ph # 01.760.473.2824
Executive Director email: [email protected] Foundation
facebook.com/MVIAFoundation
twitter: peter_kelly
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 15/21
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 16/21
Back Up Slides
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 17/21
Money Transfer Market Today
• More than $400 Billion USD is transferred around the world every year = 12 Bin rev
• US > Mex is the largest person to person x-border IMT market globally
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 18/21
Traditional User Experience ―Sender‖
• Majority Unbanked
• Time Consuming
• Limited Hours / Access / Control
• Typically Sends 1.5X per month
• $10.00 - $25.00 Per Transfer
• Expensive relative to net income
• 1 to 1 Transaction Model
• Micro Remits Cost Prohibitive
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 19/21
• Unbanked
• Heavily Dependent on sender for basicneeds
• Average travel time is 1 to 2 hours topick-up funds, Waits for funds
• Extremely Unsafe
• Desensitized to Pain
• Struggles near end of cycle, little to noemergency funds, financial inclusion orsecure savings.
Traditional User Experience ―Recipient‖
Wife
Mom
Dad
Mother In Law
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 20/21
Traditional US SenderEvent Based 1 to 1 Transaction Model
$ 85 - $10 = $ 75
$ 55 - $10 = $ 45
$160 - $10 = $150
$300 $30-$270 Net
10% Cost
A
• Money Sent is typically intended for 3 people
• Urgent or Unplanned recipient needs typically wait until next month
• Many find meeting either need cost prohibitive, little to no savings.
=
8/3/2019 M via Mobile Money Kingston Final
http://slidepdf.com/reader/full/m-via-mobile-money-kingston-final 21/21
US > MEX > MEXEvent Based 1 to 1 Transaction Model
$230 Net20% Cost
$ 0
> $130
> $100
B
• To reduce costs, senders often send to One person, who in turn redistributes funds to
intended recipients.
• This usually increases true transaction cost by inserting middleman’s discretionarycosts & influence over amount disbursed and to whom.
• Many ―extended family‖ recipients have simply stopped receiving funds
$10$10
$10
$300 $10- - $30 - $20 =