Published on March 19, 2014
Mobile Money & Wallet Summit, London 17th March 2014
Mobile Money For The Bottom of the Pyramid Presented by: Neira Jones, Chairman, Advisory Board, Ensygnia www.ensygnia.com @EnsygniaLtd @EnsygniaOnescan
2.7 billion of the world population is unbanked Only 25% of people living in emerging markets have access to a bank account.
Average savings per month in Kenya is £1.8
Payments landscape... WorldPay reported that e-commerce transaction volumes rose by 16% in 2013, compared to 2012 across all its product groups. The value of payments processed by alternative means was up 21% in 2013, with turnover value up 44%, compared to 2012.
Alternative payments... Bank transfers Real-time bank transfers Offline bank transfers Direct debits e-wallets Mobile Direct carrier billing Mobile wallets Cash on delivery Other Local card schemes Pre-pay Post-pay e-invoices Digital currencies
Source: Your Global Guide To Alternative Payments, January 2014
Customers want choice... +71.5% +50% +461% +550% This growth shows that customers are embracing different ways to pay for goods and services. Retailers & service providers can no longer just offer cards as a payment method. Source: Your Global Guide To Alternative Payments, January 2014
Alternative payments share by country Americas Middle East & Africa Asia Pacific Source: Your Global Guide To Alternative Payments, January 2014
Aggressive growth... $1.3Bn has been invested in just 42 payment start-ups Source: Let’s Talk Payments, November 2013 The payments supply chain is evolving and exploding... ...bringing with it hyper-connectivity.
... and even traditional payments methods are getting a makeover
listen, experiment and move fast to remain competitive payments go personal & social lending goes peer to peer/ social banking goes totally mobile cheques go digital credit scoring/identity checking goes social/ digital payments standards go Open Source
Inclusion for the unbanked Expand the reach of Digital Financial Infrastructure Drive Participation in the Digital Financial System Foster Better Regulation and Policies Source: Gates Foundation report
Critical Success Factors Reduce the cost of access Meet the basic needs
Reduce the Cost of Access
Meet the basic needs... Money transfer Merchant services Common interfaces/ APIs SMS, smartphone Apps, smart tagging Web applications Trust & security
Public opinion on adoption of mobile commerce Consumers believe that managing fraud risk and addressing security concerns is equally important as convenience. Source: Kount 2013 High illiteracy rate increases the risk of fraud
Kenya Source: Your Global Guide To Alternative Payments, January 2014
Ethiopia Source: Your Global Guide To Alternative Payments, January 2014
Nigeria Source: Your Global Guide To Alternative Payments, January 2014
CHOICE & CONVENIENCE COST TECHNOLOGY TRUST & PRIVACY ACCESS
online or in-store see the demo at http://vimeo.com/69548524 One smooth, seamless experience
2 Granted UK Patents: log-in & payments Patents filed in 59 countries worldwide Growing ecosystem & member of MEF Merchants benefits: On-board & transact instantly with a new customer Reduce abandoned baskets with speed to checkout Deliver real-time loyalty, coupon redemption & price matching Reduces chargebacks Turn any advert into a POS, Turn any screen anywhere into a POS – 24 / 7 Customers benefits: No more user name and passwords No re-keying of information or payment data Secure & protected – interact with any screen Purchase instantly even with a new merchant from looking to buying in under 10 seconds
Questions? Neira Jones FBCS, MSc Chairman Advisory Board, Ensygnia Chairman Global Advisory Board, Centre for Strategic Cyberspace & Security Science http://uk.linkedin.com/in/neirajones @neirajones neirajones.blogspot.co.uk http://paper.li/neirajones/1369506964 @EnsygniaLtd @EnsygniaOnescan
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... the bottom of the pyramid is the largest, ... Mobile phone, Mobile banking etc ... Brand influences the new product adoption in the Bottom of Pyramid ...
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The base of the pyramid: ... at the bottom of the pyramid. The global uptake of mobile phones has proven that poor ... The bottom-of-the-pyramid ...
The Bottom of Pyramid ... In a Harvard Business Review article called « Serving the world’s Poor ... 3/The poor don’t waste money on luxury ...
Share Mobile money at the bottom of the pyramid. ... Mobile Money For The Bottom of The Pyramid... Serving the unbanked... Fortune at the bottom of Pyramid.
The Fortune At The Bottom Of The Pyramid. ... The dominant assumption is that the poor do not have money to spend and, therefore, are not a viable market.
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