Real money meets e money

Real Money Meets E-Money

Successes and Challenges

New way of efficiently doing old things …

Novel service..... high expectations

What have we achieved….. 3+ years

Expanded product propositions…..

SUPERMARKETSSUPERMARKETS

FIXED-LINE FIXED-LINE COMMUNICATIONSCOMMUNICATIONS

PAYMENT PAYMENT TERMINALSTERMINALS

FILING FILING STATIONSSTATIONS

MOBILE MOBILE COMMUNICATIONSCOMMUNICATIONS

MUNICIPAL MUNICIPAL SERVICESSERVICES

INSURANCEINSURANCE

TRANSPORT AND TRANSPORT AND LOTTERY TICKETSLOTTERY TICKETS

BANKSBANKS

BILL PAYMENT AND ACCOUNT BILL PAYMENT AND ACCOUNT REPLENISHMENTREPLENISHMENT

VIA PAYMENT ACCEPTANCE VIA PAYMENT ACCEPTANCE OUTLETSOUTLETS

DIGITAL DIGITAL TELEVISIONTELEVISION

Expanded product propositions…..

• Transactions & Queries• Account related requests• Portfolio Management• Fund Transfer• Card services• Statements• Quotes/Feed• ATM/Branch Search

Banking

Payments

• P2P and P2M payments• Remittance• Mobile wallet transfers• Mobile airtime top-up• Utility Bill payments

Commerce

• Rail/Bus/Air Ticketing• Shopping• Movie/Match/Event Ticketing• Merchant payments• Loyalty coupons

E-money

These and many more…..

Transaction Volume Trends

Transaction Value Trends

Ver 1.0 10

53% use it to send and receive cash

$3.5bn annual transaction volume

Top customer need is to earn interest

By 2015 it will be about 40% of total revenues

Some Examples MPESA, GCASH, Smart Money

Service availability…..

Investment in people and robust systems to ensure uptime and reliability of service

…. life changing service

Created employment opportunities

Additional income stream to business owners

Convenience

Our major challenges…..

Cash Culture : Consumers used to cash transactions and exposed to only low levels of banking and electronic channels

Consumer trust : Public trust in the security & reliability of mobile money service must be established

Regulation : Specific guidelines for Mobile Financial Services to make Telcos more autonomous in the delivery of the service

22

11

33

Our major challenges…..

Limited ecosystem: Slow partner recruitment. Need merchant / businesses to embrace mobile payments and e-value as a medium of payment

Agent network: critical need to make e-value easily accessible to customers by strategically growing agent network

66

55

Low awareness: General service awareness remains low. Collaborative effort and significant investment required to drive awareness and facilitate trial and adoption

44

Forging ahead…..

thank you