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A Project on mobikwik

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A Project on mobikwik

  1. 1. Project on “Business opportunities of payment and recharge economic portal in BD, Comprehensive study on MOBIKWIK’ Project Submitted to Bangladesh Computer Council for partial fulfillment of Digital Marketing Certification under Foundation Skills Training Project submitted to MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Bangladesh Computer Council for partial fulfillment of Digital Marketing Certification under Foundation Skills Training University Of Chittagong MOBIKWIK…………….. 1
  2. 2. Project on “Business opportunities of payment and recharge economic portal in BD, Comprehensive study on MOBIKWIK’ Project Submitted to Bangladesh Computer Council for partial fulfillment of Digital Marketing Certification under Foundation Skills Training University Name: University Of Chittagong” • Name of the Student: Ajharul Islam o University Roll Number: 10304012 o Session Year: 2014-2015 • Name of the Student: Zunaid-Ul-Haque o University Roll Number:10304006 o Session Year: 2014-2015 • Name of the Student: MD.Ikbal Hossain o University Roll Number: 10304114 o Session Year: 2014-2015 • Name of the Student: Md. Parvej o University Roll Number: 10304080 o Session Year: 2014-2015 • Name of the Student: Mohtasim Billah o University Roll Number: 10304084 o Session Year: 2014-2015 • Name of the Student: Md.Imran Ahmed o University Roll Number:10304107 o Session Year: 2014-2015 MOBIKWIK…………….. 2
  3. 3. Student Declaration Ajharul Islam (ID:10304012) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Signature of the Student Place: Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 3
  4. 4. Certification guidance Ajharul Islam (ID:10304012) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong ------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- (Sagib KumarGhosh) Chairman Department of Marketing MOBIKWIK…………….. 4
  5. 5. University of Chittagong MOBIKWIK…………….. 5
  6. 6. Student Declaration Zunaid-Ul-Haque (ID: 10304008) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Signature of the Student Place: Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 6
  7. 7. MOBIKWIK…………….. 7
  8. 8. Certification guidance Zunaid-Ul-Haque (ID: 10304008) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong --------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- Sagib KumarGhosh) Chairman Department of Marketing University of Chittagong MOBIKWIK…………….. 8
  9. 9. Student Declaration MD.Ikbal Hossain(ID:10304114) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Signature of the Student Place: Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 9
  10. 10. Certification guidance MD.Ikbal Hossain(ID:10304114) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong --------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- Sagib KumarGhosh Chairman Department of Marketing University of Chittagong MOBIKWIK…………….. 10
  11. 11. Student Declaration Md. Parvej (ID:10304080) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Signature of the Student Place: Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 11
  12. 12. Certification guidance Md. Parvej (ID:10304080 do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong --------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- Sagib KumarGhosh Chairman Department of Marketing University of Chittagong MOBIKWIK…………….. 12
  13. 13. Student Declaration Mohtasim Billah (ID:10304084) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Place: Signature of the Student Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 13
  14. 14. Certification guidance Mohtasim Billah (ID:10304084) do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong --------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- Sagib KumarGhosh Chairman Department of Marketing University of Chittagong MOBIKWIK…………….. 14
  15. 15. Student Declaration Md.Imran Ahmed 10304107 do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh The information given in this project is true, complete and correct to best of our knowledge and belief. It is our original work and not submitted for award for any diploma / fellowship or prize. Place: Signature of the Student Date: --------------------------------- (STUDENT NAME) MOBIKWIK…………….. 15
  16. 16. Certification guidance Md. Imran Ahmed 10304107 do here by declare that the project report entitled,”Business opportunities of payment and recharge economic portal in BD, A Comprehensive study on MOBIKWIK” has been prepared by us as a team under the avid guidance and supervision MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Government of Bangladesh as the partial fulfillment of the requirement for the digital marketing certification under the course curriculum of LICT training govt. of Bangladesh. They have carried out a above project work as a part of team under my guidance successfully completed it regarding primary data went through a study of this subject matter and collection of data required. It is certified that the report presented embodies the original work of my students. I hereby for project for further evaluation. Place: Chittagong --------------------------------------- Date: 25/08/2016 MR. RAHUL DATTA Senior trainer- Digital marketing LICT Project, Govt. of Bangladesh Place:Date: ----------------------------------------------------- Sagib KumarGhosh Chairman Department of Marketing University of Chittagong MOBIKWIK…………….. 16
  17. 17. Part Title Page Two For Bangladeshi Investors 17  Executive Summary of Mobikwik 32  Mobikwik Overview 33 Business Model 33 Types of business 34 SOP (Standard Operation Procedure) --------------------------------------------------------------------- Payment Method------------------------------------------------------------------------ Product Division--------------------- 35 Marketing Strategy------------------------------------------------------------------------------------- 38 Technology Model--------------------------------------------------------------------------------------------- 41 Financial Structure------------------------------------------------------------------------------------------------ Fund Raising---------------------------- Fund Allocation 44 Business Timeline---------------------------------------------------------------------------------------------- Business growth----------------------------------------------------------------------------------------- Operational growth------------------------------ Employee growth-------------------------------------------- Customer acquisition----------------------- CRM of Mobikwik------------------------------------------------------------------------------------------- 44 MOBIKWIK…………….. 17
  18. 18. Part Title Page Two For Foreign Investors  Executive Summary  Business Opportunities in Bangladesh  Why Invest in Bangladesh?  Foreign Direct Investment (FDI) Guideline  Foreign Direct Investment in Bangladesh  Legal Framework for Foreign Investment  Roadmap to Investment in Bangladesh Step 1: Information Searches and Registration Step 2: A Fact-Finding Visit Step 3: Getting Started Step 4: Business/Plant Set-up Step 5: Commercial Operation Government Support  Investment Incentives  Incentives and Facilities for the Investors  Summary of Incentives Provided to the Investors  Scope of Business Sector Overview Prospects of Mobile Financial Services in BD------------------------- SWOT Analysis – An Eye on the Tourism Sector of Bangladesh PESTEL Analysis Competitor Analysis Marketing Forecast Quantitative Study Qualitative Analysis Final Recommendation MOBIKWIK…………….. 18
  19. 19. Guidelines for Bangladeshi Investors Executive Summary MobiKwik is India's largest independent mobile payments network connecting 30+ million users with 1, 00, 000+ retailers. By using the wallet, anyone can browse through some of the biggest online, retail and fashion stores without having to repeatedly expose your card details. MobiKwik wallet also offers instant transfer of money to your friends & family with ease. On MobiKwik, users do 25+ payments per second whereas 100+ new users sign-ups per minute. Anyone can use the wallet at top merchants like Big Basket, Book My Show, eBay, Myntra, Grofers, IRCTC, Domino's Pizza, Shop Clues, OYO Rooms, Lime Tray, Yatra, Via.com, PVR, Zomato, Faasos, Purplle, FirstCry, Hungama, Big Bazaar, Abhi Bus, Groupon, Jabong, Mera Events, Rummy Circle, Ticket New, Fashion & You and more. Using the MobiKwik wallet at various online and offline stores because of its ease and amazing cashbacks/ offers, will make you stop using cash and stick to wallet payments. MOBIKWIK…………….. 19
  20. 20. Overview of Mobikwik MobiKwik is simple, it’s fast & it’s hassle free. MobiKwik is a the best mobile recharge app that does not only lets you do mobile recharge, but also allows you DTH recharge, Bus bookings, IRCTC bookings, electricity bill payments, Insurance premium payments & broadband bill payments. Anyone can enjoy cashless shopping and earn awesome cashbacks at One’s favorite offline & online stores like Bookmyshow, Big Bazaar, Archies, Dominos, Jabong, Myntra, eBay, Shopclues, PVR, Zomato, Grofers, Big Basket, Faasos, Foodpanda, Makemytrip, Yatra, Meru cabs, Van Heusan, Allen Solly stores & many more places of your choice. You can even book your train tickets on IRCTC web & app, & pay via MobiKwik wallet. MOBIKWIK…………….. 20
  21. 21. Why Use MobiKwik:  Safe & Secure Payments: No need to share your valuable payment details at every other website you shop at. Just use MobiKwik to shop from anywhere you want.  Fastest Checkout: With the one-click process, MobiKwik has become the Kwikest checkout option when you are shopping online.  Multiple Payments: Store money once and make multiple transactions with MobiKwik.  Discounts & Offers: Get exclusive discounts & cashbacks at partner websites when you pay with your MobiKwik wallet. MOBIKWIK…………….. 21
  22. 22. Current Market Position of Mobikwik As far our study,we have seen that Mobikwik is a growing industry in India as well as Europe. After Patym and Freecharge,Mobikwik is the third largest on which users have spent their valuable time during 2015 and it is expected to grow in the nearest future . MOBIKWIK…………….. 22
  23. 23. Business Model  Types Of Business A user has to add money once to MobiKwik wallet and can then use it multiple times across functions, services, and service providers. Storing money in MobiKwik wallet reduces the risk of exposing card details or bank account details at multiple merchants when shopping online.  Sop-Standard operation procedure  Payment Method MOBIKWIK…………….. 23
  24. 24. MobiKwik provides users the option to add money using their debit or credit card, net banking, and ‘cash pay’, a doorstep cash collection service. MobiKwik wallet is a semi closed wallet authorized by Reserve Bank of India. MOBIKWIK…………….. 24
  25. 25.  Product Division • Recharge prepaid mobile, DTH, & for paying postpaid, broadband, data card, electricity, gas, insurance & utility bills • Shop on various shopping, food, travel websites & apps & avail exclusive offers. • Pay cashless at more than 5000+ restaurants, café, super-markets, gift shops & physical stores. • Transfer & receive money instantly to anyone with an email or mobile number • Book instant bus tickets across India & get great cash backs • Transfer & receive money instantly to anyone with an email or mobile number MOBIKWIK…………….. 25
  26. 26.  Marketing Strategy  Facebook business page MOBIKWIK…………….. 26
  27. 27.  Twitter  You Tube page  Google +  Instagram  Offline advertising  Sponsorship The company uses social media platform effectively for lead generation and launches various offers to convert it into sales. At present, the Facebook business page has around 7.9 lacs fans and Twitter witness over 55K followers. With the lucrative and attracting contents and videos posted frequently, the company has used effectively the social media platforms. YouTube page of the company has around 1,628 subscribers. Google+ has 21K followers and Instagram has over 140 followers. Followers on Facebook are increasing in count day by day which is making MobiKwik an India’s leading Mobile Wallet Company. MOBIKWIK…………….. 27
  28. 28.  Technology Model Mobikwik has built a core payments platform which creates a virtual prepaid wallet at the front end and at the back end is connected to all banks and cards in India. This platform is then exposed using API's to connect to Mobikwik's native apps on each platform - web, mobile web, smartphone web, iPhone, iPad, Android, Blackberry, Java and Windows Phone 8. MobiKwik has created a custom SDK for Android which allows any merchant to collect in-app payments using wallet & all the banks/debit cards/credit cards in India. Compare this to Google wallet which supports only credit cards which are less than 20 million in India. MobiKwik has also created simplified tech interfaces for merchants to integrate the wallet as a 1 click Check out option on the Web and Mobile Web. More than 300 merchants currently use it. Mobikwik available on web and also available on MOBIKWIK…………….. 28
  29. 29.  Financial Structure  Fund raising In the initial time company raised $250K seed funding and looking at the growth of the company in 2013, Cisco Investments, American Express and the existing investor, Sequoia Capital invested $25 million in Series B which was $5 million in a series A round. MOBIKWIK…………….. 29
  30. 30.  Fund allocation Mobikwik allocates their fund for  Team building  Innovation  Product development  Marketing  Operations MOBIKWIK…………….. 30
  31. 31. Business Timeline  Business growth Connecting 30 million users with 75,000 retailers, Gurgaon-based MobiKwik aspires to be the largest source of digital transactions in India. Launched in 2009 by Bipin and Upasana Taku, the company has created a list of quality merchants, which includes names like IRCTC, Uber, Big Bazaar, OYO Rooms, Zomato, Barista, PVR, MakeMyTrip, Myntra, Big Basket, and Domino’s. It allows users to load money into the wallet via cash, loyalty points, debit card, credit card, and netbanking. MobiKwik’s users currently make 10–12 purchases every month across diverse use cases such as recharge, bills, food, grocery, travel and cabs, shopping, entertainment, and more. MobiKwik was the first to launch W2W (wallet-to-wallet) mobile money transfer service in August 2014. Available on Android, Windows, and iOS, MobiKwik wallet services today has 30 million wallet users. MobiKwik’s GMV has grown significantly by 250 per cent year-on-year for the last four years.  Operational growth Mobikwik started its business based on Gurgaon but now it serves in whole India.  It has 30+ Millions consumer  Gets 100+ new users in per minute  25+ payment in per second Top three priorities at MobiKwik right now Building the best team: Business has grown at a tremendous pace. We have grown from a team of 50 to around 250 in less than 18 months. It continues to be a difficult assignment to hire the best people for the right roles and projects. MOBIKWIK…………….. 31
  32. 32. Business partnerships: The offline space has also seen fantastic growth with MobiKwik being the only wallet player with wide acceptance at brick-and-mortar stores such as Big Bazaar, Archies, Barista and WHSmith India. Strong corporate governance: I am putting in place stronger processes and systems at MobiKwik. As we gear up to unlock our next level of growth, we need a stronger foundation.  Employee growth MobiKwik, a mobile wallet app developed by Gurgaon-based One Mobikwik Systems Private Limited, is planning to increase its workforce by 54 per cent, from the current strength of 65 to 100 employees, in the near-term. MobiKwik is planning to recruit engineers with competencies in Java, Python or Javascript development for its core payments platform with background in Android,iOS or Windows development for its mobile applications, the company said in a release on Wednesday. Started in 2009, MobiKwik has more than five million users in India. Its mobile wallet enables users to pay for their recurring recharge and bill payment transactions and to buy products on popular ecommerce websites and mobile apps. Mobikwik has a very flexible working environment. It has flexible working hours which is very helpful for the employees. No micro environment so one can actually as an MOBIKWIK…………….. 32
  33. 33. individual contributor and handle ones work without any interface. The HR department is extremely supportive and quickly solves any minor/major problem faced by employees. Also, you have the liberty to speak to Management directly which is quite a plus point here. Company Politics is NIL so anyone who deserves better opportunity/position gets it without any hassle. Estimated Revenue (TTM $252.4M) Estimated Employees 174  Customer acquisition MobiKwik is a mobile wallet and earns money through commission from bill payment (electricity,water, etc.) and mobile/DTH recharges. Today, a customer can top-up the wallet using a credit card, pay using the wallet that was topped up to get both discounts from the wallet provider and credit card points from the bank. Though this is a two-step process, it is fine today as it gives a fair return for the budget conscious customer. Like lead management, customer acquisition management creates an orderly architecture for managing large volumes of customer inquiries, or leads. The architecture must be able to organize numerous leads, at various stages of a sales process, across a distributed sales force. In order to understand this process, it is helpful to examine a simplified linear lead flow process, such as the following:  Advertising and CRM  Customer inquiry or response  Inquiry captured  Inquiry filtered  Lead graded and prioritized MOBIKWIK…………….. 33
  34. 34.  Lead distribution  Sales contact  Lead nurturing or retention  Sales result  Analysis of promotion's effectiveness The lead flow process can become enormously complex as customers and sales professionals begin to interact. These various interactions and subsequent actions can create a variety of scenarios, both productive and counterproductive. For example, if potential customers do not have their needs fully developed by a competent sales professional, or a sales professional is overly forceful, this can lead to lost sales and counterproductive results. Another common counterproductive scenario is when a potential customer is asked the same question by multiple company representatives.This exponential number of scenarios can provide for numerous opportunities to mishandle leads in such a way as to reduce their value. Managing these scenarios is the function of lead management. By creating methods and processes to track key acquisition metrics, organizations can get a more accurate picture of what traffic and new customers result from each channel. CRM of Mobikwik Mobikwik maintains customer relationship in various ways. They have social media presence( Facebook Page, twitter, LinkedIn, google+), toll-free customer care number for compalints and supports, email helpline etc. to deal with the customers. Mobikwik provides 14 hours customer service daily. Mobikwik has got so many negative criticisms from customers. They are sometimes delayed to respond to the customer complaints. MOBIKWIK…………….. 34
  35. 35. Guidelines for foreign Investors Executive Summary As a developing country, Bangladesh needs FDI for its ongoing development process. Since independence, Bangladesh is trying to be a suitable location for FDI. Special zones have been set up and lucrative incentive packages have been provided to attract FDI. However, the total inflow of FDI has been increasing over the years. In 1972, annual FDI inflow was 0.090 million USD, and after 33 years, in 2005 annual FDI came to 845.30 million USD and to 989 million USD in 2006. The magnitude of FDI played a minor role in the economy of Bangladesh until 1980, a crucial year of policy change. The Government of Bangladesh (GOB) enacted the ‘Foreign Investment Promotion and Protection Act, 1980’ in an attempt to attract FDI. Except five industries, which are reserved for the public sector: defense equipment and machinery, nuclear energy, forestry in the reserved forest area, security printing and minting, and railways, FDI is allowed in every sector of the economy. Table 1 shows total FDI inflow (including that in Export Processing Zones, EPZs) over the last 11 years, 1995-2005. Data reveals that in 1999 there was a sudden fall in FDI, and again in 2001, mainly because of serious political unrest, which discouraged foreign investment, and it took several years to regain the confidence of foreign investors. It stabilized afterwards but remained below the average reached during 1997-2000. In spite of Bangladesh’s comparative advantage in labour- intensive manufacturing, adoption of investment friendly policies and regulations, establishment of EPZs in different suitable locations and other privileges, FDI flows have failed to accelerate. MOBIKWIK…………….. 35
  36. 36. However, in 2005 substantial improvement has been achieved. SCOPE OF BUSINESS  Bangladesh is steadily forwarding toward digitalization which paves the way toward sound financial growth on e-marketing. Future trends Bangladesh’s retail market is estimated at $1 billion in 2011 and is expected to grow to $2.5billion by 2016 and $8 billion by 2020 – estimated growth rate is 18%.  The pragmatic guideline contributed in such a way that the customer-base went from zero to 30 million within a little more than four years .Everyday, the MFS industry is processing around 3.5 million financial transaction.  The penetration grew faster than any other MFS industry in the globe. Overall analysis says, Bangladesh has established a successful MFS industry with in a short time.  Online platform is becoming more and more popular from the last few years, the people of Bangladesh are looking for such platform which will not only be authentic but also time and energy saving for them.  Ease of transaction, widening markets, and decreased overheads are factors that make e-commerce solutions more and more attractive, as evident with the growth of online sales. PROSPECTS OF MOBILE FINANCIAL SERVICES IN BANGLADESH In last five years perhaps this sector has seen the most significant growth. There was a concern whether general people would find it appealing to buy online but the growth rate of ecommerce sites has diminished that concern. Toady ecommerce sites are mushrooming to cater different aspects of individual needs. On the other hand, M-commerce or Mobile Commerce refers to wireless electronic commerce used for conducting commerce or business through a handy device like cellular phone or Personal Digital Assistant(PDAs). In other words it is the ability to conduct commerce using a mobile device, such as a mobile phone, a Personal digital assistant (PDA), a Smartphone, or other emerging mobile equipment such as dashpot mobile devices It is the next generation wireless e-commerce that needs no wire and plug-in devices. Mobile commerce is usually called as 'm-Commerce' in which user can MOBIKWIK…………….. 36
  37. 37. do any sort of transaction including buying and selling of the goods, asking any services, transferring the ownership or rights, transacting and transferring the money by accessing wireless internet service on the mobile handset itself.  A recent report published by the USAID said, mobile money transfer is on the rise in the country. Since its launch in 2011, mobile banking sector has been experiencing exponential growth. According to the report, the growth has reached a new height in February making the number at $1.42 billion which is BDT 11,104 crore.  Bangladesh is among the biggest mobile banking market in the world and accounted for almost 8% of total registered global mobile banking users. Since a large number of population don’t have access to conventional banking, mobile banking has become an instant hit in the country especially to BOP population.  The industry has seen its biggest growth between January 2013 and February 2015. During this period of time the number of registered clients increased more than five- fold from 5 million to over 25 million. The number of transactions has also grown significantly during this period of time, from 10 million in January 2013 to just under 77 million in February 2015, making the daily transaction amount via mobile staggering $47.44 million on an average.  The report used desk research and face-to-face interviews with key mobile financial services providers, telecom operators, technology platform providers, regulators, and USAID health and agriculture project staff and 904 beneficiaries to come up with a unified understanding. BUSINESS OPPORTUNITIES IN BANGLADESH The use of information and communication technology has been playing a vital role in the 21st century due to globalization. The democratic government has declared the “Vision 2021” in the election manifesto which targets establishment of a resourceful and MOBIKWIK…………….. 37
  38. 38. modern country by 2021 through effective use of information and communication technology, a "Digital Bangladesh". “Digital Bangladesh” does not only mean the broad use of computers, perhaps it means the modern philosophy of effective and useful use of technology in terms of implementing the promises in education, health, job placement, poverty reduction etc. Therefore, the government underscores a changing attitude, positive thinking and innovative ideas for the success of “Digital Bangladesh”. Digital Bangladesh • Promotes the use of information and communication technology (ICT) in all walks of life to provide the goods and services needed for human subsistence and growth. • Comprises the philosophy of people’s democracy, basic rights, transparency, accountability, equity, justice and an optimal public delivery system of services, including public goods. • Includes all classes of the citizens on the principles of non discrimination and non exclusion. • Ensures equal access to technology and knowledge based services. Regulation of Mobile Financial Services Following several years of deliberations and ad hoc permissions on MFS, the Department of Currency Management and Payment Systems of Bangladesh Bank issued “Guidelines on Mobile Financial Services (MFS) for the Banks” on 22 September 2011 which were subsequently amended On 20 December 2011. A current version can be found at the Bangladesh Bank website http://www.bangladesh‐bank.org under the Regulations and Guidelines section. These guidelines state that only a bank‐led model will be permitted. For Bangladesh Bank this means that a customer’s account, termed "Mobile Account", will rest with the bank and will be accessible through the customer’s mobile device. This mobile account will be a non‐chequing account classified separately from a standard banking account. The guidelines permit the following services, subject to specific bank proposals to and clearances by Bangladesh Bank: 1. Disbursement of inward foreign remittances 2. Cash in/out using mobile account through agents/Bank branches/ATMs/MNO’s outlets 3. Person to Business Payments (utility bill payments or merchant payments) 4. Business to Person Payments (salary disbursement, dividend and refund warrant payments, vendor payments) 5. Government to Person Payments (elderly allowances, freedom‐fighter allowances, subsidies) MOBIKWIK…………….. 38
  39. 39. 6. Person to Government Payments (taxes, levy payments) 7. Person to Person Payments P2P (One registered mobile account to another registered mobile account) 8. Other Payments (microfinance, overdraft facility, insurance premiums, deposit pension scheme deposits) 9. Bangladesh Bank has established limits on P2P transactions of taka 10,000 per day and 25,000 per month. These amounts are subject to change from time to time at the discretion of Bangladesh Bank. Following the initial guidelines, Bangladesh Bank also issued an update to the guidelines with some modifications on 20 December 2011. These modifications clarified that the bank bears responsibility for know‐your‐customer (KYC) practices. It restricts P2P payments between holders of registered mobile accounts thereby restricting the use of services in which the recipient cashes out a payment without opening a mobile account. Seventeen banks have been granted permission to introduce MFS by Bangladesh Bank. Ten banks have launched MFS and of these five are licensed to offer a range of service beyond inward foreign GOVERNMENT SUPPORT Fiscal Incentives NON-FISCAL INCENTIVES INFRASTUCTURE & FACILITIES Tax Holiday for 10 Years Concessionary Tax for 5 years after completing initial 10 years. Duty free import of machinery & raw materials Avoidance of Double Taxation based on DTTs All other incentives as provided by BOI 100% foreign equity allowed Unrestricted exit policy Full repatriation facilities of dividend and capital at the event of exit Import of raw materials allowed on Documentary Acceptance basis. Intra and Inter-zone export is allowed. Subcontracting within EPZs permitted. Fully Serviced Plots Ready Factory Building All Types of Utilities Warehouse and Secured Bonded Area Business Support Services Administrative Services Customs Clearance at Plant Site Workers Dormitory Enclave Recreational Amenities MOBIKWIK…………….. 39
  40. 40. SOCIO ECONOMIC CONDITION OF BANGLADESH  The market-based economy of Bangladesh is the 32nd largest in the world by purchasing power parity and is classified among the Next Eleven emerging market economies. It is the largest economy in the Bengal region and the third-largest in South Asia.  According to the IMF, Bangladesh's economy is the second fastest growing major economy of 2016, with a rate of 7.1%.  Dhaka and Chittagong are the principal financial centers of the country, being home to the Dhaka Stock Exchange and the Chittagong Stock Exchange.The financial sector of Bangladesh is the second largest in the subcontinent.  In the decade since 2004, Bangladesh averaged a GDP growth of 6.5%, that has been largely driven by its exports of ready made garments, remittances and the domestic agricultural sector. The country has pursued export-oriented industrialisation, with its key export sectors include textiles, shipbuilding, fish and seafood, jute and leather goods.  It has also developed self-sufficient industries in pharmaceuticals, steel and food processing.  Bangladesh's telecommunication industry has witnessed rapid growth over the years, receiving high investment from foreign companies.  Bangladesh also has substantial reserves ofnatural gas and is Asia's seventh largest gas producer. Offshore exploration activities are increasing in its maritime territory in the Bay of Bengal. It also has large deposits of limestone.  The government promotes the Digital Bangladesh scheme as part of its efforts to develop the country's growing information technology sector.  Bangladesh is strategically important for the economies of Northeast India, Nepal and Bhutan, as Bangladeshi seaports provide maritime access for these landlocked regions and countries.  In 2016, per-capita income was estimated as per IMF data at US$3,840 (PPP) and US$1,386 (Nominal). MOBIKWIK…………….. 40
  41. 41.  Bangladesh is a member of the Commonwealth of Nations, D-8 Organization for Economic Cooperation, the South Asian Association for Regional Cooperation, the International Monetary Fund, the World Bank, the World Trade Organisation and the Asian Infrastructure Investment Bank. Investment progression in Bangladesh  The stock market capitalization of the Dhaka Stock Exchange in Bangladesh crossed $10 billion in November 2007 and the $30 billion mark in 2009, and USD 50 billion in August 2010. Bangladesh had the best performing stock market in Asia during the recent global recession between 2007 and 2010, due to relatively low correlations with developed country stock markets.  Major investment in real estate by domestic and foreign-resident Bangladeshis has led to a massive building boom in Dhaka and Chittagong.  Recent (2011) trends for investing in Bangladesh as Saudi Arabia trying to secure public and private investment in oil and gas, power and transportation projects, United Arab Emirates (UAE) is keen to invest in growing shipbuilding industry in Bangladesh encouraged by comparative cost advantage.  Tata, an India-based leading industrial multinational to invest Taka 1500 crore to set up an automobile industry in Bangladesh.  World Bank to invest in rural roads improving quality of live.  the Rwandan entrepreneurs are keen to invest in Bangladesh's pharmaceuticals sector considering its potentiality in international market  Samsung sought to lease 500 industrial plots from the export zones authority to set up an electronics hub in Bangladesh with an investment of US$1.25 billion  National Board of Revenue (NBR) is set to withdraw tax rebate facilities on investment in the capital market by individual taxpayers from the fiscal 2011-12. In 2011.  Japan Bank for International Cooperation ranked Bangladesh as the 15th best investment destination for foreign investors. MOBIKWIK…………….. 41
  42. 42. SUCCESS RATE PESTEL ANALYSIS OF MOBIKWIK Political National laws regarding online financial service Tax facilities Political stability Suitable employment rules Special assistance Economical Economic growth Change in interest rate Exchange rate New demand Increasing GDP MOBIKWIK…………….. 42
  43. 43. Technological New era of digital marketing Rate of innovation Change in technology Increasing buying and selling Increasing the number of internet users Social Changing attitudes Creating awareness Changing demographic behavior Change in interest Change in educational system Environmental Location Climate People’s nature MOBIKWIK…………….. 43
  44. 44. Legal Special act for online financial companies S.W.O.T. analysis of Mobikwik Strength  MobiKwik provides a user friendly, app-based interface for recharges, bill payments, shopping, and money transfer to friends and family, through the MobiKwik wallet.  MobiKwik is now enabled across more than 20,000 merchants including Café Coffee Day, Jabong, Snapdeal, BookMyShow, Domino’s Pizza, eBay, HomeShop18, Infibeam, Purplle, MakeMyTrip, Naaptol, Pepperfry, ShopClues, TastyKhana, and JustEat.  Wide merchant coverage.  Strategic partnership with Payback inks.  Strong distribution and sales networks.  Strong domestic market.  Cisco, Amex & Treeline invested $25 million in Mobikwik Weakness  Lack of local agent is a big weakness of Mobikwink. MOBIKWIK…………….. 44
  45. 45.  The company do not provide any kind of security to the field agent so the local business person do not feel secured to take the agency ship of mobikwink. Opportunity  The target market of Mobikwink is those people who are generally ignored by the big financial service providers and their offerings. AsBangladesh is a country of large population of these segmentation, Modikwink has a good opportunity of capturing a huge market share.try  Online shopping is gaining popularity in Bangladesh so if the company can offer the transection system for online shopping, which could the way of earing big profits.  In recent survey it has been found that about 29% of the users of MFS industries of our country do not have the reliability on the industry  Initial high cost for access  Lack of security transection Threat  In last six months, the companies faced several terrorist related issues in many areas of Bangladesh which occurs due to the poor security facility of the country. If these incident continues, than the consumers and local agents will lose the interest of having this service which will be a huge threat.  There are some other Banks of Bangladesh who are recently offering the similar service to the market with new offers and facilities, If the company can’t take the necessary steps to defense the competition than they will have a threat of losing market share. MOBIKWIK…………….. 45
  46. 46. Summary of questioner Social group survey Upper Class Middle Class Lower Class Students 5 15 8 12 We interviewed total 40 person and the majority of them were middle class and students. As we were trying to understand the market sustainability of Mobikwik so as an alternative option of Bkash at first, we introduced Mobikwik to them then we have given them the questionnaire and surprisingly we have found that about 40% of the result gone in favor of Mobikwik. Most of the research person showed their interest to complete their daily activities like online shoping,utility bill payment through online, buying air and bus ticket, reserving hotels, online mobile recharge,etc but in Bangladesh no MFS companies that do all activities under the same roof. As Mobikwik provides all functions in India so interviewed person showed their interest to Mobikwik. Recommendation Mobile wallet and online payment system is one of finest innovation of modern times. Now we can make instant bill payments, recharges or shop at your favorite stores just with 1-tap! Not only this, you can avail great offers, get cashback on every transaction we do with Mobikwik. MCommerce market in India is in nascent stage, m-payment and m- banking segments have shown significant growth over the last few years. As smartphone sales continue their journey by 51% every three months, the mobile commerce (m-comm) market may grow by 55% from its present size of $2 billion to $19 billion by 2019. In Bangladesh mobile financial services (MFS) already exists. Bkash , Brac Bank mobile MOBIKWIK…………….. 46
  47. 47. banking, M cash, Sure cash, Ucash , Ok cash, My cash, Hello cash, Trust bank mobile banking, IFIC mobile banking are doing business. Bangladesh Bank is monitoring all the activities of MFS industry. By far of our study we have seen that people of Bangladesh are using this platform with great endeavor. At present more than 5 millions of people are using these mobile financial services in our country. On a recent survey Bangladesh bank has found that MFS industry will be the most prolific industry in the nearest future. Though this industry has become the most profitable sector , most of the people do not use this platform as they do not feel safe. And also as the existing companies are charging more fees from the customer thus most of the registered customers are real happy with it. One more thing to open an account with them the customers have to face lots hassles like they have to communicate either with the local agents or by visiting the customer care which is really time consuming for the customers. As opening a account in mobikwik is very easy thus it can be an strong alternative for them. Still our utility bill and also shopping payment can not be paid with the existing MFS in our country so it could open a huge business opportunity for Mobikwik to start business in Bangladesh. Cash back on every transaction and some other promotional offers as get interest on the wallet balance, offering discount by making the transaction with Mobikwik will add value for customers. MOBIKWIK…………….. 47

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