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April 7, 2023 © 2014 Novopay Confidential 1
Financial Inclusion through Mobile Payments
April 7, 2023 © 2014 Novopay Confidential 2
Retail“India - Land of Kiranas”
AadhaarOnline Identity
BankingExpensive, cash-based
13 million shopsRural, Offers credit
Biometric Identity System630 million enrolled
60% of people unbankedBank Branches & movement of people & cash - expensive
Mobile Payments Solution
Addresses the Unbanked
Large number ofretail outlets
Using the Aadhaar platform
Mobile & Cloud Powered Technology Platform
6 km walk to bus stop
The Problem - Ram’s Thursday ordeal
14 km bus journey
2 hour wait at the bank and a frustrated
bank clerk
2:30pm deadline
The return journey
Moneylender dues @ 5% pm
Ration from village Kirana with remaining money
April 7, 2023 © 2014 Novopay Confidential 4
April 7, 2023 5
Weekly Wage - ₹792
Loses 28% of his income!
₹792
Transport ₹20
Interest ₹30
Opportunity cost of wasted day ₹132
₹610
© 2014 Novopay Confidential
Ram’s cost of the financial distance
April 7, 2023 © 2014 Novopay Confidential 6
Customer uses his Aadhaar ID to authenticate himselfAndroid-based mobile solution for simple, accessible, low-cost banking
The Solution
NPCINat’l
PaymentCorp of India
IDMapper
Authentication
Merchant Bank
Ram’s Bank
Kirana with a Micro-ATM
SMS
Debit – Rs 300
Ram
Credit – Rs 300
Mobile NetworkServer
Novopay Retail Outlets - Bangalore
7 April 2023 © 2014 Novopay Confidential 8
April 7, 2023 © 2014 Novopay Confidential 9
Mobile Payment – Cloud Services
7 April 2023 © 2014 Novopay Confidential 10
Novopay Team
April 7, 2023 © 2014 Novopay Confidential 11
CEO, Novopay
CEO - Kolkata & W.Bengal, Vodafone
CEO - Vodafone M-PESA
CTO, Novopay
Chief Product Manager -Aadhaar
Product Manager - Google Map Maker
Sridhar Rao Sanjay Jain Gautam Bandyopadhyay
COO, Novopay
Head – Finacle Digital Commerce, Infosys
Head – E-Banking & CRM deliveries, Infosys
Sanjay JainSridhar Rao Gautam Bandyopadhyay
CEO, Khosla Labs
Head-of-Technology Aadhaar
Sun, Intel, SGI, WebMD –
Silicon Valley
Srikanth Nadhamuni
April 7, 2023 © 2014 Novopay Confidential 12
Thank You
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