Mobile Money For The Bottom of The Pyramid... Serving the unbanked...

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Information about Mobile Money For The Bottom of The Pyramid... Serving the unbanked...
Business & Mgmt

Published on March 19, 2014

Author: neirajones

Source: slideshare.net

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Presentation to the Mobile Money & Wallet Summit, 18th March 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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