Opportunities in Online & Mobile Payments for Startups - PowerPoint PPT Presentation

Opportunities in Online & Mobile Payments for Startups

Population

CELLPHONE SUBSCRIBERS

bank accounts (?)

mobile wallets

debit cards

CREDIT cards

3G/4G USERS

INTERNET USERS

POINT OF SALE TERMINALS

remittances

MOBILE AGENTS

POPULATION UNDER 30

mobile transactions per day

NUMBER OF ONLINE SHOPS

cash on delivery

WHERE IS THE OPPORTUNITY YOU ASK?

The Opportunity Framework Online Merchant Online Merchant POS Acquiring Remittance Mobile Wallet Account (VISA/ Account (Debit (Existing Cards) Payout Network MC) Card) Person to Person 3rd Party Apps KYC Services Transfers (Online/ Mobile Top Ups Bill Payment (Cinema Ticket) Offline) Etc 3rd Party Personal Finance Banking & Utility eCommerce Store Branchless Micro Payments Apps Data Interfaces Banking POPs Loyalty Card 3rd Party Owned Vending Government Crowd Funding Management ATM Network Machines Payments

Mobile Remote Deposit Capture

Bitcoin Wallets & Apps

Open Financial Exchange (OFX) Bank OFX Apps

Personal Finance Manager (PFM)

Make Wrappers

So Apps can look beautiful

Improve the UI & UX (if possible)

Taking existing 1996 design and improving it

Start with the Contact Form 
 (if you have to work on this to get in)

Payment 
 Blueprint

The fintech challenge should be open for all

What would the agnostic wallet look like?

Well it would be….

The wallet can be accessed from… Phone Tablet Computer

It doesn’t matter… What Bank You Use…

It doesn’t matter… What Phone You Have

It doesn’t matter… Which Mobile Company You Use

You will be able to pay Merchants…

You will be able to pay People..

You will be able to pay Online..

You will be able to Load money on to your wallet (via IBFT)

You will be able to Load money on to your wallet (via Cash)

You will be able to Load money on to your wallet (via Credit Card)

You will be able to Load money on to your wallet (via Phone Balance)

You will be able to Load money on to your wallet (via Remittances)

You will be able to Load money on to your wallet (even with say Payoneer)

Sample Transaction Set

Emerging Payment Protocols

Architect Robust APIs

Multi-Code Solutions Courtesy of stripe.com

Understand how OAuth works http://oauth.net/

Easy Sign-up! Keep It Simple

Make KYC a snap!

Don’t Forget Recurring Payments

Implement 2FA (Two Factor Authentication) Google Authenticator (Free) & Authy

Don’t Ignore the Pay by QR Code Look at KuaPay: https://kuapay.com/

Think about issuance with your product Pre-Paid is a Huge Market. Improvise on the offering

Accurately Model Your Market.

Data Drives Decisions: Conduct Surveys! Incorporate feedback. Listen to your potential clients.

Make sure you are chasing a problem! For which you have a solution

Same Product: Multiple Offering The culture is diverse; the marketplace is diverse and your product should be too.

Off-The-Shelf Solution? Why not! There is no law preventing you from buying an off-the-shelf solution to implement.

Put up a kick-ass website

Your Help Desk should be Awesome! Check out ZenDesk (I love it)

Your Social Media Strategy should be stellar Check out Xpress Money: https://twitter.com/Xpress_Money

Make your product with lots of love. Be passionate about your offering

Lastly… “The key to success in mobile payments is eliminating friction . The less information a consumer needs to manually enter at the time of checkout – whether that be a credit card number, billing address, or even username and password as login credentials – the more likely they are to complete the transaction.”