Mobile Financial services Real cases from around the world

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1 Mobile Financial services Real cases from around the world 1 #

2 It s time for money to change We believe that as money goes mobile, network operators will play a significant role in the m-commerce value chain. Creating the opportunities, however, requires operators to think in new ways about ecosystems, marketing and technology. 2 3

3 Evolution, freedom and opportunity We are moving towards the Networked Society where everything that can benefit from a connection will be connected. As we do so, business and society continue to be transformed. We have already seen entire industries revolutionized by mobile connectivity. Consider how we listen to music, watch films, socialize and learn. The way we use money is also changing. By coupling financial services with mobile connectivity, m-commerce is a rapidly growing industry, expected to be worth some USD 800 billion by The convergence of telecoms services and mobile wallet capabilities will be a main driver in creating new unique service bundles and revenue streams. As a key enabler of the Networked Society, we are developing secure and flexible solutions and products that will bring the convenience of m-commerce to billions of people and fantastic opportunities to operators. The following cases highlight just some of these possibilities. 4 5

4 1 opportunity Increase usage in the urban family Many families with shared economies rely on cash transferred from family members. In developing markets this can often be complicated, insecure and relatively expensive, with traditional banking services not being widely available. By finding ways to encourage more people to use mobile banking, operators can differentiate their offerings while gaining greater customer loyalty and creating higher average revenue per user. 6 7

5 CASE STORY PARAGUAY SOLUTION Create new solutions and incentives for transferring money between families and their different wallets, such as layered fee structures. 70% of Paraguay s population is financially excluded 5:100,000 Only 5 bank branches per 100,000 population in Paraguay Services require only a small ecosystem where the operator is the main stakeholder. The agent network is key to enabling cash in/ out transactions and remittances even if the receiver lacks a mobile wallet. One Paraguayan operator has gained a market advantage by bundling airtime rewards for domestic money remittances giving back half the commission fee for money transfers as additional airtime. More than 200 live mobile money deployments in emerging markets alone (December 2013) Nearly 100% mobile penetration throughout Paraguay BENEFITS Transactions between family members become inexpensive and more convenient. The operator could tie in the whole family and thereby increase loyalty. The subscriber benefits from less costly money transfers, plus free additional phone usage. 8 9

6 2 opportunity The overseas worker More people work overseas than ever before but sending money back home is still costly and complicated. And for their families, finding a money transfer office to pick up the funds can often be hard work too. Transferring money home from abroad is today a global trend involving millions of people and millions of transactions. It s a multibillion-dollar business that operators, with the right partner, can tap into to create new revenues

7 CASE STORY TONGA, NEW ZEALAND & AUSTRALIA 232 million Today s world has 232 million international migrants* * Source: World Bank SOLUTION Operators have the power to transform mobile phones into handheld money transfer offices. All it takes is a mobile wallet solution connected to Ericsson s M-Commerce Interconnect service. This unique service simplifies transactions between the mobile operator s customers and financial service providers. It provides real-time payment routing, foreign exchange, clearing and settlement, and regulatory compliance of international money transfers. Partnering for a global ecosystem By connecting mobile financial ecosystems in Australia, New Zealand and Tonga, one network operator has succeeded in creating a profitable money transfer service. Costing significantly less than traditional remittance channels, the service has led to a rapid uptake by overseas workers who now pay a flat fee (around USD 3) per transaction as opposed to 15-20% of the remittance. Overseas workers from developing countries will remit USD 540 billion by 2016** $540 Billion It s all about creating a global ecosystem through the right partnerships: operators, financial institutions and money transfer offices around the world. BENEFITS ** Source: World Bank For the overseas worker sending money to family and friends, this solution brings increased convenience and lower costs no more long queues or high fees at the money transfer office. And back home, the recipients can skip the long trips and get funds delivered straight to their mobile phones

8 3 opportunity Small business financing Starting a small business can be a challenging exercise. Especially in developing markets, access to capital is scarce, and repaying a loan often means spending a whole day on a bus to reach a bank s office. Connect financial institutions and their services to your customers via their mobile phones and make small-business financing more accessible. Increase loyalty and the value of your service while enabling new revenue streams

9 CASE STORY Philippines SOLUTION A mobile wallet solution that connects micro-financing institutions directly to borrowers can revolutionize small business financing. People get funding sent directly to their mobile phone, or through agents offering cash-out services. In this case, financial products and services are offered to underserved customers utilizing the network of a large mobile operator in the Philippines, reaching more than 70 million subscriptions. 160 million Over 160 million people in developing countries are already served by micro-finance.* Mobile wallet micro-finance Big ideas meet micro-finance all made available by a mobile phone. Serving small businesses in developing markets is too expensive for most banks. Enter the operator partnering with micro-finance organizations to deliver funding to those who need it most. A new ecosystem The solution requires a partnership between micro-financing organizations, the agent network (to enable cash transactions), and a credit approval/assessment agency. 75% Transaction costs can be cut by over 75% by moving payments from cash to mobile. * Source: World Bank BENEFITS Q: A: What are the benefits for operators? New revenue from transactions and repayment enablement. Creates increased loyalty and stickiness. Q: A: What are the benefits for customers? Small unbanked businesses get loans based on credit ratings from operators, enabling them to invest and expand. The service is highly scalable and cost effective, delivering 24/7 service and instant account opening for both savings and loans products. Loans are assessed and paid instantly using advanced credit scoring techniques based on non-traditional data such as airtime top up, voice and SMS usage

10 opportunity Bring life and health insurance to low-income sectors For many individuals around the world on low incomes, even simple health and property insurance are too expensive or just unavailable. This leaves a huge number of people without any form of cover, but it also represents a large untapped potential market for new types of policies and cooperation between insurance providers and operators. 4 By partnering with insurance providers and using the mobile phone as a vehicle for payment, operators could help deliver simple insurance solutions with lowered costs of service for collecting premiums as well as payments of premiums

11 CASE STORY PAKISTAN SOLUTION One solution currently being offered in Pakistan provides loyalty-based microinsurance policies. Customers are rewarded with a life insurance product by maintaining a minimum specified balance in their mobile wallets. 5 million More than five million customers a month use the service through 25,000 service points. operators need to partner with three main players Even in developed countries, life insurance is not universal: 41%of Americans have no life insurance. OPERATOR Insurance companies The service was launched in 2009, when an operator acquired a 51% ownership stake in a microfinance bank. BENEFITS operator agent network (to enable payment of premiums) Insurance 51% companies agents (to secure customer verification and sign-up of service) The customer benefits immediately by gaining access to a basic but useful insurance policy that increases personal financial security. In the Pakistan example, maintaining a certain balance on a customer s mobile wallet also reduces cash-out expenses, while the operator/provider can build loyalty and market size by reaching new customers

12 5 opportunity The convenience store Independent convenience stores still process a large amount of cash transactions especially in emerging markets. Without an option to pay with a card, customers are forced to carry cash that the merchant is then required to handle, transport and bank on a daily basis. At the same time, there are many people who do not have a bank account but who would benefit from being able make electronic payments. Operators that offer mobile wallets have a great opportunity to support merchants in markets with low payment card penetration

13 CASE STORY INDIA SOLUTION By creating new ways to pay, receive and save money, operators can differentiate their offerings while increasing loyalty and gaining additional revenue streams. Using a card reader that can be attached to a mobile phone, the solution was rolled out in India in Initially the operator deployed the service using its existing relationship with merchants that sold top-ups and mobile money services. IN BRIEF: Use mobile phone balance or credit card to pay anyone who has a mobile phone number instantly. Offer a mobile wallet solution that enables businesses of all sizes and kinds to accept and make mobile payments. The hardware for merchants costs around USD 28; they then pay a monthly fee to use the service. The service helps to tap into the huge potential for cashless transactions in emerging markets. In India, for example, there are 300 million credit cards in circulation but only 600,000 terminals. BENEFITS For merchants subscribing to the service there are multiple benefits including less cash handling, the enablement of e-commerce payment, immediate reconciliation of accounts and increased security. Deliver coupons with relevant and personalized offerings directly to consumers wallets. Activation time for merchant? Minutes! Solution is designed for traders with annual transactions of less than USD 100,000. 0% = the amount charged per transaction. Instead the service is funded via a monthly subscription. The solution has provided a convenient, secure and paperless way to pay for goods. Operators are benefiting by differentiating their offerings, bringing added value to the subscriber relationship. And by encouraging the subscriber to retain money in their mobile account, operators benefit from increased transactions and revenues

14 Operators are creating opportunities As the worlds of telecom and finance converge, operators are in a prime position to create innovative services and completely new revenue streams. Thanks to their existing relationship with the customer, they are ideally placed to introduce services that have farreaching benefits for themselves and their customers. From increasing average revenue per user and securing customer loyalty to service creation and differentiation, financial services offered via mobile telephony have the potential to transform your business. At Ericsson, we believe that the freedom to send, spend and receive money using a mobile phone is becoming an essential part of daily life for billions of people. As well as being a key element of the Networked Society, it is also a great business opportunity. Our m-commerce solutions based on our global experience and industry leadership are driving progress in the industry by providing secure flexible platforms that enable interconnection and transparency between separate financial systems

15 Ericsson s M-Commerce Business Logics At Ericsson our goal has been to help operators on this journey with practical, successful and proven insights into the m-commerce landscape. The result is six Business Logics designed to enable mobile network operators to use their unparalleled access to consumers, agent networks and technology platforms to capture m-commerce opportunities. The Finance Logic Give your customers fast access to financial services like savings accounts, micro loans or insurances. The Retail Logic Develop mobile wallets that make retail more convenient for all. The Consumer Logic Use your existing telecom assets to provide the basic mobile money services that a lot of people lack. The Public Logic Empower the relationships between citizens and authorities. Rethink things like tax collection or payments for school lunches. The Enterprise Logic Paying salaries or bills can be a real challenge where bank accounts are scarce. A mobile solution can simplify the process. The Media Logic Enhance your customers media experience by enabling them to buy premium content or concert tickets via their mobile phones

16 JOIN OUR WORKSHOPS Get to know our portfolio To find out more about the Business Logics and how your business can benefit from applying them, join one of our Business Logics workshops. Our half-day workshops for management teams offer a fresh look at specific market opportunities with relevant examples from key players within m-commerce. These hands-on sessions follow a successful format that has been proven in more than 100 workshops globally. To find out more, us at or visit our website at At Ericsson, we are driving the second generation of mobile commerce development by connecting banks, money transfer organizations, payment service providers and internet service providers. We are enabling operators, financial institutions and other service providers to fast track the launch of mobile financial services, and are providing a shorter time to revenue. Our key m-commerce solutions include Ericsson Wallet Platform, Ericsson Converged Wallet and Ericsson M-Commerce Interconnect. Find out more at

17 Ericsson is a world-leading provider of telecommunications equipment and services to mobile and fixed network operators. Over 1,000 networks in more than 180 countries use our network equipment, and more than 40 percent of the world s mobile traffic passes through Ericsson networks. We are one of the few companies worldwide that can offer end-toend solutions for all major mobile communication standards. Our networks, telecom services and multimedia solutions make it easier for people, across the world, to communicate. And as communication changes the way we live and work, Ericsson is playing a key role in this evolution. Using innovation to empower people, business and society, we are working towards the Networked Society, in which everything that can benefit from a connection will have one. Our vision is to be the prime driver in an all-communicating world. The content of this document is subject to revision without notice due to continued progress in methodology, design and manufacturing. Ericsson shall have no liability for any error or damage of any kind resulting from the use of this document Ericsson SE Stockholm, Sweden Telephone Fax Uen FGB Ericsson AB 2014

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