2. Mobile Money
For
The Bottom of the Pyramid
Presented by:
Neira Jones, Chairman, Advisory Board, Ensygnia
www.ensygnia.com
@EnsygniaLtd
@EnsygniaOnescan
3.
4. 2.7 billion of the world population
is unbanked
Only 25% of people living in emerging markets
have access to a bank account.
6. 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.
7. 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
9. 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
10. Alternative payments share by country
Americas Middle East & Africa Asia Pacific
Source: Your Global Guide To Alternative Payments, January 2014
11. 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.
12. ... and even traditional payments methods
are getting a makeover
13. 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
14. 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
20. Meet the basic needs...
Money transfer
Merchant services
Common interfaces/ APIs
SMS, smartphone Apps, smart tagging
Web applications
Trust & security
21. 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
27. online or in-store
see the demo at http://vimeo.com/69548524
One smooth, seamless experience
28. 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
29. 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
Notes de l'éditeur
The bottom of the pyramid consists of the largest, but poorest socio-economic group. In global terms, this is the 4 billion people who live on less than US$2.50 per day.
There are 2.7 Billion unbanked people in the world. Most of these people have very low income.
For e.g. the average savings per month in Kenya is £1.8. There are other countries in Africa and Asia where poverty is very high.
According to a report from Gates foundation, the change can be brought in three stages: Expanding the digital infrastructure, Drive participation in the Digital Financial System, and Fostering better regulations and Policies. The 1st and 3rd are driven by the Government, and my focus would be how to drive the participation in the Digital Financial System.
To succeed in this mission, we have to focus on two critical factors: Reducing the cost of Access i.e. making it easier for poor to access mobile services. Secondly, we have to solve the basic needs.
Leverage the existing network of Telcos, FMCG and community Computers
To succeed in this mission, we have to focus on two critical factors: Reducing the cost of Access i.e. making it easier for poor to access mobile services. Secondly, we have to solve the basic needs.
There are 2.7 Billion unbanked people in the world. Most of these people have very low income.
We need a solution that is designed as a platform, and provide modules that can be customized easily to provide different access channel depending on the market conditions.