mobile banking conference southern africa 130312
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Mobile Banking Southern Africa ConferenceTRANSCRIPT
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How to get the informal sector to switch from cash to mobile money?
Yaron Assabi [email protected]
yaronassabi
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Ø Why consumers want mobile service at lower fees and with personal benefits based on usage
Ø Cash is not king, it is dangerous - bad for the environment and expensive
Ø Mobile: the ideal platform for micro-payments
Ø Relevant technology can change behaviour
Ø Small change to make a big difference
Hidden Agenda
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“ A world where everyone, no matter who they are or
where they live, can gain easy ‘mobile’ access to affordable basic financial services to improve their lives and raise their standard of living.’
Our Vision
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Critical Success Factors Ø The informal business sector is primarily cash based across Africa
Ø Mobile Money integration and mCommerce is not easy for a merchant and therefore should be simplified via software that gives access to multiple payment options or CSP ( Commerce Service Provider) $5&11#-$F)&1$"1)#-($&-#$."*34$&3.$()"/?.$1)&1$0)&34#)'8$F)'$3"1G
Ø On Device App that is cross platform Ø Security , Device Management and remote wiping Ø Vertically focused app for SME providing the same service as a standard POS but on the mobile device with smart SaaS based features & reporting Ø Usability & Quality Management
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ü Have you ever bought a Nando’s meal in Nigeria ? ü Africa is primarily a cash based economy due to vast dispersed geography it is
not economical to have a large branch network ( e.g. 2/3 of Namibia is desert) ü The mattress is still a major safe deposit box – it is expensive and dangerous ü Violent crime statistics will drop once we migrate to electronic money in Africa
and it should therefore be a high priority.
ü Electronic money will have a positive impact on our environment. ( eliminate carbon emission on travel , printing of money etc..)
ü There was a time when Banks stopped reporting incidents as there were too many -they were worried about consumer confidence – if Banks could spend less on security, costs will drop and they could focus on service
Cash is NOT King it is Dangerous and Expensive
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ü Mobile Networks cover most populated areas and therefore are ideal for enabling mobile commerce and payments
ü Pre Paid wallet is equivalent to a current account ü It is easier to top up airtime remotely and keep currency electronically vs.
cash. ü A Mobile network is designed for micro billing ( per second billing )
whereas credit cards R15 minimum transactions. ü The world is moving towards pay per use –” 20p to use the toilet at
Paddington station “ – what happens when you do not have change?
Mobile is the ideal platform for micropayments
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Unbanked Opportunity
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Mobile is the ideal platform for micropayments
ü Mobile Networks cover most populated areas and therefore are ideal for enabling mobile commerce and payments
ü Pre Paid wallet is equivalent to a current account- very little
credit card penetration in Africa which is an opportunity for the MNO ‘s to take the lead in Mobile App Eco System
ü It is easier to top up airtime remotely and keep currency
electronically vs. cash. ü A Mobile network is designed for micro billing ( per second
billing ) whereas credit cards R15 minimum transactions. Most Apps
ü The world is moving towards pay per use –” 20p to use the
toilet at Paddington station “ – what happens when you do not have change?
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9 | Touchatag |August 2009
Pay by Phone and control your eco foot print
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Mobile Development Partnerships
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How Mobile is changing shopping ?
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ü The banking and credit card industries have noticed that it takes an average of 26 hours for a user to (notice and) report a lost wallet. Yet if you lose a mobile phone, the average time to report it is 68 minutes.
Prefer Mobile Phone over Wallet?
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Market Overview- $151 billion this year
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“Give people more control over their banking and you’ll win their loyalty. That’s because mobile is not a channel so much as a way consumers live their lives and consequently, the way banks have to conduct their business.”
Douglas Brown Senior VP Mobile Product Development
Bank of America
Mobile Lifestyle
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Applications will determine winners
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à Accept credit, debit, mobile money & stored-value cards in the field à Software only solution – no card-swipe hardware required à Card information entered onto SmartFORM™ on the handset à Immediate authorization à Mobile receipt printing can be made available (Bluetooth® printer
required) à Compliant with highest levels of industry security standards à Eliminate cash from the system
Increase Cash Flow From
Shortened Receivables
Mobile Payment Processing
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à Interface with SARS efilling à KM per L Report
• Etc. à “Petrol card like “ integration à Electronic driver logs à Provide valuable reporting
Reduce Manual Reporting Costs
Fuel /Tax Calculation & Reporting
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Reduce Expenses à Complete more transactions per day à Complete transactions quicker à Reduce mPos costs à Ensure accuracy à Eliminate paper-based reporting
Increase Cash Flow à Increase market share, customer service & revenue à Optimize inventory levels à Increase revenue per merchant à Faster & more accurate invoicing
Improve Safety/Security à More affordable à Faster response times
Transform our product innovation into your market leadership!
Customer Benefits
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Ø Security is always a consideration when implementing a POS solution. Ø The primary concerns are employee access to registers, adherence to security
standards, & securing the saved transaction record in the database through compliance with data protection standards.
Ø When migrating to a mobile POS environment, the concerns are the same. Ø The mobile device will operate within a mobile data network so capturing
customer payment data and transmitting using 3G network is inherently risky. Ø The Payment Card Industry Data Security Standards (PCI-DSS) have specific
provisions and additional processes that must be implemented in order for a retailer to be allowed to mobile payments .
Ø The connection should use strong encryption through HTTPS and should adhere to the PCI-DSS standard protocols to manage the transaction. Ø Merchant / Employee authentication to the mobile device should be robust and
tracked through to the transaction level. Ø Once the transaction is complete or cancelled, the system should delete the
transaction record from memory only available on SaaS environment for recall.
Security
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Mobile Marke0
ng
Mobile Customer Service
Know your customers Know their problems
Proac<ve help where needed
Know your customers Know their preferences Give them more of what they want
Real-‐<me knowledge Targeted adver<sing
Enhanced brand loyalty
Business Value
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They don’t leave because there’s a compelling reason to leave. They leave because there’s no compelling reason to stay
Why customers leave?
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Mobile Loyalty and Rewards
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23 | Touchatag |August 2009
Use phone camera to scan image and see discounts
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“Optimize Up” to the capabilities of each device Take advantage of latest device capabilities Graceful fall-back for older devices Use device knowledge within applications e.g. don't offer video if the phone doesn't support it
Adopt a “Write Once, Deliver Anywhere” strategy Standards based integration – W3C DIAL (XDIME) Re-use branding templates across multiple systems Automated support for new devices
Reach the maximum number of users Regardless of their choice of device Browsing, Messaging, Clients, USSD… Mobiles, PDA’s, PC, Games Consoles…
With high quality user experience
With minimum effort
Deliver web applications to any device
Cross Platform –Common API’s
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Mobile Learning –Training of Merchants
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ü DSG Secured exclusive rights for Africa , Middle East & Indian Ocean
ü US-based company with global presence that provides a full range of software testing services to customers of all sizes
ü Provides real-world, “in-the-wild” testing services for web, mobile, and desktop apps
ü Utilizes a global community of professional software testers
ü Not a traditional QA outsourcing or off-shoring company
ü Act as extension & complement to in-house QA activities
Background
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Some customers
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Testing types – Mobile, Web, Desktop ü Exploratory ü Functional ü Usability ü Hybrid-load testing ü Localization and internationalization Real-world coverage – broad matrix ü OS/Browser/3rd Party Apps ü Location-based ü Language-based ü Handset maker, model and wireless carrier (for mobile) ü “In-the-wild” testing vs. “In-the-lab" testing Consumer & SMB-facing applications ü Web, Desktop and Mobile
Crowd -sourcing usability
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Have you tested your app?
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It is all about EXPERIENCE
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In traditional two pocket thinking, the money you invest flows back to you.
Giving thru philanthropy flows away, with no return.
philanthropy
investment
Source : Good Capital
From donor funded business models
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When good and capital come together, the money flows back to you after its made an impact in the world. It’s recyclable giving; more change for your buck.
Source : Good Capital
Self sustaining business models-recyclable giving
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Rather than wondering "What your money is doing" in your name, you have the confidence of knowing --by creating accountability for good impact, and accountability for financial performance""""""
Source : Good Capital
Electronic channels provide full audit trail of ROI
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Incentives were a strong motive for younger people to sign up for mobile banking services, which allow them to keep track of checking and savings accounts on their cell phones. Of respondents to a survey, 40 percent of people 18 to 45 said incentives tipped the scales when it came to picking mobile banking.
SOURCE: AURIEMMA GROUP
Incentives help drive adoption
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Old style social capital In the old style double bottom line view, the social value hides behind a spreadsheet.
The new wave The total blended value becomes clear. as we acknowledge our desire for impact
Blended Value High Impact –10 % of PBT is re-invested back into the community
Source : Good Capital
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ü Select your community based NPO and all transactions on our platform contribute towards your charity via loyalty points .
ü Round up your transaction – small change to make a big difference ü Everytime you contribute we provide you with loyalty points and
account for how much good you have done for the community through the platform for personal reward and recognition and tax purposes
ü M-commerce through digitalmall.com , mticketing, prepaid airtime sales
ü Micro franchising – creating job opportunities- we will stimulate buisness ideas and support entrepenuers in m-government , m-health , m-learning, microfinance ( Safaricom has over 9,000 Mpesa dealers) .
ü Entrepreneurship development program ü Mobile application development partner program ü Microbilling for mobile content and applications which is key to
success of the eco-system
Small change will make a BIG difference
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