The potential for international remittance through mobiles is significant. In addition to creating a widely available transaction network, harnessing the mobile for cross-border transfers can bring innovative remittance products into the market. The presentation focuses on the “value” mobile can bring to the remittance market-space beyond being a mere service transmission channel.
How to Troubleshoot Apps for the Modern Connected Worker
The Future of Remittance is Mobile by Ambar Sur, Founder and CEO, Terra
1. The future of remittances is
mobile.
Ambar Sur
CEO & Founder, Terra
2. Cash still rules.
43%
21%
18%
8%
3%
2%
1% 1%
Cash to
cash
Account
to
account
any bank
Online Cash to
account
Account
to cash
Account
to
account -
same
bank
Mobile Prepaid
card
Remittance Product Types
7. Range of need –
based use cases
2. Enabling new
value
propositions
8. 3. New business
value - The
remittance is
no longer the
transaction
Currency
Deposits
Sender Utility Payments
Pay Bills
Beneficiary
Banks
Co-branded debit
card
Obtain
micro-credit
Migrants Beneficiary Households
Access
Banking
Services
Payments
10. Demographic
information, age,
income, life stage
Transaction
patterns,
Class of
segment
Social
groups and
networks
Personal
Identity
Three elements determine context
3. Extended
value:
Engage with
customers
14. The Terra Network
One Network
Terra
• Multiple partners in
multiple countries
Globally – One Financial
Network
• Subscribers can carry out
transactions –
remittance, commerce,
etc. – between any
partner in any country,
subject to regulatory
approval
• Supports any to any
instrument cash to bank,
bank to wallet, wallet to
bank and bank to ban ,
16. For Customers
Easy to Access
Simple to Use
Instant Payment
24x7
Secure
For Partners
Payment Interoperability
Support for Any Carrier, Any Device
Scalable, resilient and Secure
Platform
Brand and Customer Control
Regulatory Compliance
Risk Control
Fast to Market
Integration Flexibility
Easy to Deploy
The Terra Network
17.
18. Recommendations
Embed remittances into your wallet strategy
1
2
3
4
Embrace open as the new culture
Select the right partner for the necessary knowledge,
competencies and skills to execute on the digital business
strategy.
Create and nature new ecosystems