SimplySmart
ByInnovators
Dafna Sokol, Tony Tung, Margaret Chung, Melody Liu, Fred Ng, Michelle Dagenais
What is the problem ?
• Too many cards (credit cards / membership cards/ VIP cards)
• Loaded with coupons
• Wallet bulky with receipts
• Excessive Credit card debt
• Bad credit history
What is the problem ?
• Too many cards (credit cards / membership cards/ VIP cards)
• Loaded with coupons• Wallet bulky with receipts• Poor credit card management• Bad credit history
Service Center
The first step for Simply Smart is to go down to one of five of our registration facility.
The members of the service team verify your ID and finger print than register you in the Simply Smart system.
Once everything has been approved on –site the client will be provided an account ID and password to access their account on-line.
5 Registration Facilities
Website Demo
SimplySmart WebSite
Melo’sShopping Experience with
Too many credit cards and I forgot to bring my VIP membership for
20% off
With , the problems are solved!
Store manager entering the transaction details to the machineat cashier Automatic Coupon
Verification and Password Amount: $12,250.00Automatic: 20% VIP discountNew Amount: $9,800.00
Confirm:
Yes:
No:
Cancel
Membership CardCredit Cards
Payment Selection:
Visa: 4580-6666-3333Expiry Date: 10/2012
YES:
MasterCard: 2399-5555-3232Expiry Date: 04/2013
YES:
Cancel
Processing Payment
Please wait…..
Cancel
Processing and Receipt
Payment Approved
Print Receipt:
YES: NO:
e-Receipt via SMS Receipt:
YES: NO:
Cancel
Machine screen with “Transaction completed”
Thank you for using Simply Smart
Have A Great Day
Cancel
e-Receipt
Problem Solved
Thanks to
I rediscover the joy of shopping!
Fingerprint Identity
• Let your fingers do the Shopping !– Watch this – Finger scan authentication on iPhone– http://www.youtube.com/watch?v=5GWagOcy3
5A&NR=1– Fingerprint Scanner is the future of biometric
fingerprint identification
SimplySmart eWallet
• Why carry many cards if you can have "One SimplySmart eWallet for All” ?
• Fingerprint reader at payment terminal• Walk through checkout
SimplySmart eWallet
Business Applications• Smart card• E commerce• Sensing Terminal
• e.g. Banks, Clubs
Business Model
Individual Customers
Retailers / Merchants
SimplySmart
(Platform)
One-timeRegistration
Fee
1. Set-up fee2. Commission3. Advertising
$ $
• Our business model is unique in that we can draw revenue from both sides of the value chain
• Moreover, the value of our platform to individual customers will largely depend on the number of participating retailers, and vice versa
• This interaction between the two groups will create the network effect whereby individual customers and retailers are attracted to each other
• As a result, our margins will improve as user bases grow and our business can enjoy increasing returns to scale.
Network Effect
Competitive Advantage
Creating Value
Capturing Value
Delivering Value
For customers: convenience
For retailers: new marketing channel, targeted marketing
Capture value from both sides of value chain
Leverage network effect
Continually invest in R&D
Fees and charges kept at minimal level to grow network
Financial Projection
Year 1 Year 2 Year 3 Year 4 Year 5
User BaseIndividual customers 10,000 20,000 60,000 240,000 1,200,000 Retailers / merchants 5,000 10,000 20,000 80,000 160,000
Costs (in HKD'000)R&D Expenditure 10,000 5,000 5,000 5,000 5,000Equipment supplied to retailers 1,500 1,500 3,000 18,000 24,000Other business costs 3,000 3,000 3,000 3,000 3,000Total Cost 14,500 9,500 11,000 26,000 32,000
Revenue (in HKD'000)Customer registration fee 500 500 2,000 9,000 48,000Retailer set-up fee 250 250 500 3,000 4,000Transaction commission 50 200 1,200 19,200 192,000Advertising revenue 2,500 5,000 10,000 40,000 80,000Total Revenue 3,300 5,950 13,700 71,200 324,000
Financial Projection
Net Profit: Year 1 – 5 HKD’m
Operate at a loss in initial 2 years
Off the chart!
Future Opportunties
• Integrate into a single statement• Integrate with other card systems• Cooperate with other companies and
provide target customers to them• Integrate the payment process with
smartphone• Wealth management system• Create a cardless world
QUESTIONS?
Sources
http://www.mobilespinach.com/http://www.joyce.com/http://www.youtube.com/watch?v=5GWagOcy35A&NR=1