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Presentation to the Mobile Money & Wallet Summit, 18th March 2014
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Mobile Money & Wallet Summit, London
17th March 2014
Mobile MoneyFor
The Bottom of the Pyramid Presented by:
Neira Jones, Chairman, Advisory Board, Ensygnia
www.ensygnia.com@EnsygniaLtd
@EnsygniaOnescan
2.7 billion of the world populationis 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 debitse-walletsMobile Direct carrier billing
Mobile wallets
Cash on deliveryOther 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 ithyper-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-storesee the demo at
http://vimeo.com/69548524
One smooth, seamless experience
2 Granted UK Patents: log-in & paymentsPatents filed in 59 countries worldwideGrowing ecosystem & member of MEFMerchants 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, MScChairman 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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