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  • Home Truth For Ictd and Bop

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    1) A street vendor in Bangalore spent 10% of her income (Rs. 15 per day) on kerosene for lighting, highlighting the high costs of basic necessities for the poor. 2) Mobile money has the potential to financially include billions of unbanked people and allow for quick and low-cost money transfers through ubiquitous mobile phones and local retail agents. 3) M-Pesa in Kenya has shown that a well-designed mobile money system with a simple user interface, committed agents, and optimal management can financially include over 15 million customers, changing mental models of money management for the poor.

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    its a research presentation on mobile and how it connects to people below poverty line

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    Mobile Money

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    1) A street vendor in Bangalore spent 10% of her income (Rs. 15 per day) on kerosene for lighting, highlighting the high costs of basic necessities for the poor. 2) Mobile money has the potential to financially include billions of unbanked people and allow for quick and low-cost money transfers through ubiquitous mobile phones and local retail agents. 3) M-Pesa in Kenya has shown that a well-designed mobile money system with a simple user interface, committed agents, and optimal management can financially include over 15 million customers, changing mental models of money management for the poor.

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    21 views11 pages

    Home Truth For Ictd and Bop

    Uploaded by

    apurvanaga
    1) A street vendor in Bangalore spent 10% of her income (Rs. 15 per day) on kerosene for lighting, highlighting the high costs of basic necessities for the poor. 2) Mobile money has the potential to financially include billions of unbanked people and allow for quick and low-cost money transfers through ubiquitous mobile phones and local retail agents. 3) M-Pesa in Kenya has shown that a well-designed mobile money system with a simple user interface, committed agents, and optimal management can financially include over 15 million customers, changing mental models of money management for the poor.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    of 11

    HOME TRUTH FOR ICTD AND BOP

    A street vendor in Bangalore says: "Rs. 300 a month is expensive, but Rs. 10 a day is fine." The street vendor was spending Rs. 15 a day -- about 10% to 15% of her income -- to get light from a kerosene lamp that allowed her to sell her vegetables . Do we spend that much on one light? Lesson: to offer creative ways for poor customers to finance purchases while keeping quality standards high!

    ICTD & MOBILE MONEY

    Can it save the world? 4 Billion Phones

    4 Billion People

    WHAT DO WE MEAN BY MOBILE - BANKING?


    Extends to traditionally unbanked customers via

    Mobile phones and limitless local retail outlets

    Source MSR India: Stefan Staschen, CGAP, ABT Conf, April 2008

    Why MobileMoney For BoP


    Mattress to MobileMoney
    -At home under the mattress or Post Office -Proxy-banking
    -Loan Sharks -Running credit at Kirana shop -Microfinance -Pawn shop -Large domestic remittance -Quick Transfers

    -Low cost
    -High reliability -Anytime-Anywhere - Financial Inclusion - Literacy

    - NREGA, Aaadhar

    WHAT CAN THEY DO? Overcome Acess Relevance Usability Barriers


    Branchless banking/No Frills Real-time Clearing

    4 BILLION CARRIER PHONES

    POS Biometric Technologies


    Agent and Retail points Distribution Networks

    Liquidity /cash in and out


    Accessible mobile wallet) P2P money transfers + +

    http://behance.vo.llnwd.net/profiles21/443153/projects/1747170/39dbe39934cf56ce1bfb06dbccb26f7f.jpg

    http://www.upsides.com/wp-content/uploads/2013/03/bKash-agent.jpg

    NEED OF THE HOUR


    A Railway of tracks, carriages and Products Infrastructure and Investments Unbanked to Banked Intuitive Interface Human Mediation

    Service Delivery Chain


    An Amazon like third party?

    Issues of Adoption
    How must an interface look? Mental Models of Money and Movement

    Brand & Communicate Integrate life contexts of the poor


    E.g.. Erratic unstable income cycles

    M-PESA THE MOBILE MONEY POSTER CHILD


    1.7 BILLION 15 MILLION 3 MILLION

    Easy and reliable in/out cash Immediacy of the on-demand service Tiny top-up amounts (as low as 20) Customizable experience. Product development Informal money management What else is riding on M-Pesa

    Safari.com I Agents I Service points I Airtime money I Non-regulation


    [Hawala banking or western union]

    Airtime a medium of exchange Safaris telecom presence and brand share. Migrant BOP market transferring money to rural home Safari agents screened trained and monitored Score Chart Rating of Customer experience Simplicity of message utility and usability Cash-in and cash-out is agent mediated Liquidity management is key 300 master agents for 3 million agents

    Credit:Mas-Morawczynski on lessons from M-Pesa

    M-Pesa

    A super smooth way to register clients A well incentivized and committed agent base Good customer propositions Safaris attentive system monitoring Optimal management of the mobile network Optimal market retail and product system

    PHYSICAL
    Neural cloud in peoples brain Ideas habits around money New mental model of money A digital payments ecosystem

    CLOUD
    Electronic informal economy Electrifying the sources of money

    Electronic accounts and wallets


    Electronic payment platforms

    Ubiquitous low-cost remote channel Authorized in real time Self-service + mediated channel From bank branches into neighborhood store onto customers hands

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