payments innovation for the financially underserved
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Covering the technology and finance behind building technology innovation for the underbanked and unbankedTRANSCRIPT
Payments Innovation for the Financially
Underserved
Jonathan LeBlanc (@jcleblanc)
Global Head of Developer Evangelism at PayPal
Underbanked / Unbanked?
The Underbanked
The Unbanked
State of the US
The Unbanked8.8% of America households (1 in 12, or 10.8 million) are unbanked
The Underbanked20.1% of households (1 in 5, or 24 million) are underbanked
Household Account Types• 29.3% have no savings account• 10% have no checking account
Use of Alternate Financial Services• 25% use at least one AFS• Almost 1/10 regularly use 2 or more• About 4/10 unbanked and
underbanked used an AFS in the last 30 days
Manipulating the Underbanked and
Unbanked
Turning to Mobile
The Underbanked• 91% of underbanked have a mobile
phone• 57% have a smartphone• 29% used mobile banking in last 12
months• 17% have used mobile payments
The Unbanked• 64% of unbanked have a mobile phone• 18% have a smartphone• 10% used mobile banking in last 12
months• 12% have used mobile payments
A Technology Use Case
Funding: Prepaid Debit Cards
http://ppd.io/pp-prepaid-card
Commerce: Bluetooth Smart
http://ppd.io/pp-prepaid-card
Point of Sale Integration
http://www.shopkeep.com/
Bluetooth Smart Hacking
The New Savings Market
Family Run Accountshttp://ppd.io/pp-family-savings
Family Savings Hacking
Learning from the Rest of the World
What to Think About
Funding
A single savings / checking account or some pre-paid / cash equivalent card
Payments
Mobile first approach
Targets
Payday loans / high interest rate organizations
Thanks! Questions?Slides: http://slideshare.net/jcleblanc
Jonathan LeBlanc (@jcleblanc)
Global Head of Developer Evangelism at PayPal