Universal Mobile Payment Solutionold.nasscom.in/sites/default/files/fonePaisa Intro v7.pdf · 1. mBanking app serves only banks customers. FP would bring business from other banks’

fonePaisa

Universal Mobile Payment Solution

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17-Aug-15 Confidential fonePaisa | All rights reserved 2015 2

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About fonePaisa TeamSharad Hegde (Founder Chairman) was the first employee (non-founder) of Infosys and has also been CTO at Infosys. Sharad was thechief architect of Finacle. He is a graduate from IIT Chennai and apost-graduate from NITIE, Mumbai.

Ritesh Agarwal (Founder COO) is from Branch Banking background.He has worked with ICICI Bank and big software companies likePolaris, Fidelity and Misys. He has CBS implementation experienceat international banks. He did PGDM from TAPMI, Manipal.

C. S. Prasad Subramanian (Director-Technology) was Head – FinacleCBS at Infosys. He was chief product officer at iCreate software. Hewas director and founding partner at IncValue Advisors Private Ltd.He did his PGSM from IIM-B.


Toooooooo Many Payment OptionsCustomer is NOT loyal to a specific payment option for loyalty, but for greed of offers and discounts….

Customer is overwhelmed with soooooo many apps for payments…

All corporate logos and trademarks are acknowledged.

Bank’s Mobile Apps Semi-closed Wallet Apps

OLA MONEY

Closed-loop Wallet Apps

But Prominent in Remote Payments

Would customer actually download so many payment apps….

ANSWER IS NO


Current Payment Options

No mobile app supports user approval for merchant/bill payments

Other than Cash...cards & wallets are the only payment options

Transaction Cost is high for Wallets and Credit cards….

Consumer


Mobile Payment Challenges

Bank’s mobile app can serve only their own

customers.Limited Audience

SMS based IMPS lacks security.Unsecure Txn

USSD lacks UI and has too many steps.

Does not support merchant payments

Bad User ExperienceIVR takes much longer

User Un-friendly

Merchant wants:1.Lower Transaction Costs2.Automated Settlement3.Agnostic of issuing bank4.Faster Transaction5.Pay-on-Delivery operations


What to do now….?Divorce the merchant acceptance of specific payment mechanism and customer choice of source of fund

OLA Money

Issuing Bank Sponsor Bank


Trusted Party Application

SPONSOR BANK INTERFACE

fonePaisa

Display for userto approve / reject

User Enters mPinTo approve txn

Txn confirmed to user

Biller sends invoice detailsto fonePaisa

fonePaisa Appon buyer mobile

Txn confirmed to user

Bill Invoice Details +Customer Mobile No.


fonePaisa Advantage - Merchant

Substitute To Online Merchant Brick'n'mortar Merchant

Cash Cash-on-delivery can beconverted to Pay-on-delivery

Eliminates cash handling challenges & cost

Credit / Debit Card

Can be replaced by bank account debit

Account Transfer

Need not depend only on NetBankingor bank’s mobile app

Wallets Interoperable and ubiquitous acceptance


FAQ

1. Our ‘Mobile Banking’ app already has IMPS Push capability, then why should we partner with fonePaisa?

2. Is FP allowed to receive mPin?

3. Will FP support Pull/Push txn?

4. Does fonePaisa require specific phone type or a mandatory data plan?

1. mBanking app serves only bank’s customers. FP would bring business from other banks’ customers also.

2. NPCI allows sponsor bank to certify 3rd

party trusted app to receive mPin.

3. Yes. We shall Push/Transfer from consumer app and Pull transactions from merchant app.

4. fonePaisa works with all consumer phone types, even without data plan. In the absence of data plan, fonePaisa app communicates over Encrypted SMS.


What else in fonePaisa…?

1. Enable Card and UPI in biller/P2M payments

2. Launch QR Code based app

3. Complement bank’s mobile strategy

4. Launch Web-based Payments

5. Technical advancements : NFC, BLE

6. Feature Enhancements

As we grow over time

Thank youwww.fonepaisa.com

Please Contact:

Ritesh Agarwal

[email protected]

+91 – 97312 59966

Documents

Universal Mobile Payment Solutionold.nasscom.in/sites/default/files/fonePaisa Intro v7.pdf · 1. mBanking app serves only banks customers. FP would bring business from other banks’