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M pay connect presentation insead sabc seminar food security and mfs


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Improving Food Security through the use of Mobile Financial Services …

Improving Food Security through the use of Mobile Financial Services
By mPay Connect, Inc.

Presented for the INSEAD / SABC Seminar

Published in: Business, Economy & Finance

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  • 1. ©mPay Connect, Food Security through theuse of Mobile Financial ServicesBy mPay Connect, Inc.Presented for the INSEAD / SABC SeminarJune 20, 2013
  • 2. ©mPay Connect,BackgroundWhy Mobile Finance for Food Security?Mobile Finance Innovation Examples
  • 3. ©mPay Connect,• 20 years of experience in mobile, high tech, alternative paymentswith 8 years of experience in mobile financial services• Founder of mPay Connect Consulting Services, Former PayPal Exec• Harvard BA in Economics, Wharton MBA• Mobile Financial Services Publications Include:“Advancing the dialog on Mobile Finance and Mobile Health: Country Case Studies,” byMenekse Gencer and Jody Ranck for The mHealth Alliance, February 2012.“Amplifying the Impact: Examining the Intersection of Mobile Health and Mobile Finance,”by Menekse Gencer for The World Economic Forum Davos Summit, February 2011“Mobile Money: The Foundation for Food Security,” by Menekse Gencer for InnovationsMagazine, MIT Press, 2/2012“The Mobile Money Movement(TM): Catalyst to Jumpstart Emerging Markets,” byMenekse Gencer for Innovations Magazine, MIT Press, 12/2010“Jamaican Regulatory Overview” by Camille Busette and Menekse Gencer for The Inter-American Development Bank, 10/2010“Jamaican Gender Issues and Mobile Financial Services Report,” by M. Gencer for TheInter-American Development Bank, 11/10Menekse Gencer Bio
  • 4. ©mPay Connect, Security Defined“Food security exists when all people, at alltimes, have physical and economic access tosufficient, safe and nutritious food to meet theirdietary needs and food preferences for an activeand healthy life.” (FAO, 1996)
  • 5. ©mPay Connect, to Food Security5FoodSecurityIncreaseincome tobuy foodthroughbetter cropoutputCreateefficiencies inInfrastructure/ DistributionIncreaseNutrition/SafetyIncreaseincomethroughPrices/Marketefficiencies© mPayConnect, Inc.2010, 2011, 202, 2013Small HolderFarmer IncomeSupply Chain Efficiency& Quality ControlFastersettlement, credit, insurance, savings forinvestmentEmpower farmers & maximizeincome through price visibility oncommodities and instant salesTrace sources of supply throughoutvalue chain withmonitoring, evaluation, andpaymentsEncouragesupply chainparticipantswith instantpayments &vouchers
  • 6. ©mPay Connect, is Mobile Finance?Using the mobile phone as a channelto conduct payments, account management, andother financial services
  • 7. ©mPay Connect, Mobile Finance?© mPay ConnectWorld Economic PyramidSource: World Resources Institute(*IndividualAnnualIncome: 2005 USD PurchasingPower Parity)500 Mill*>$20k/yr2 Billion*$3260 to $20k/yr4 Billion*<$3260/yr or <$9/dayToday2012Unbanked, Mobile Opportunity:1.7 Billion in2012Source: CGAPBanksAt base of pyramid, 70% or 2.5 billion peoplerely on food value chain for their income.Up to 2/3 small farmers are womenNo bank accounts,but they do have (access to) mobile phones
  • 8. ©mPay Connect, Mobile Finance? Foundation for allindustries in cash-dependent societies8Mobile Financial Servicessalary, payments, savings, insurance, creditHealth, Off-Grid Energy, Agriculture/Food Security
  • 9. ©mPay Connect, of Innovations9
  • 10. ©mPay Connect,’s Agrilife: Providing credit andpayments to improve crop output10Suppliers FarmersBulkers/ BuyersCertifierCredit Issuing Financial InstitutionAssessesRisk & IssuesSmall business loanCoop Farmer group leadersExtendsCreditAt Harvest, Bulker/BuyerPays supplier amountOf credit + Interest oncecrops are soldAt harvest,Mobile Payment(minus loan amount)Sends dataon businessactivitiesSends dataon businessactivitiesIncreaseincome tobuy foodthroughbetter cropoutput
  • 11. ©mPay Connect, Salama: Providing crop insurance tomitigate against weather risk & encourageinvestment11Kalimo SalamaIncreaseincome tobuy foodthroughbetter cropoutput
  • 12. ©mPay Connect, Transactions: Faster settlementencourages supply chain participation12Createefficiencies inInfrastructure/ Distribution
  • 13. ©mPay Connect,