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Fortumo: How to process payments from 318 mobile operators
 

Fortumo: How to process payments from 318 mobile operators

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    Fortumo: How to process payments from 318 mobile operators Fortumo: How to process payments from 318 mobile operators Presentation Transcript

    • How to Keep Calm and Process Payments from 318 Mobile Operators in 61 Currencies?! Andrei Dementjev! 2013
    • Fortumo! 2 -  Founded in 2007! -  Live in 74 countries! -  Payments via prepaid or postpaid mobile account! -  Eliminates the need to connect directly to operator!
    • Business Model! 3 End-user spends 1.00 EUR on golden coins Operator deducts his commission (15-40%) and transfers remaining amount to FortumoFortumo deducts commission (2-5%) and pays to game owner
    • Challenges with Mobile Money! 4 -  Working with foreign currencies! -  Accounts Receivable (DEBTS) ! -  International taxation ! -  Limitless bureaucracy! -  International payouts!
    • 1. Foreign Currencies! 5 -  62 currencies = 62 exchange rates! -  Solution: OANDA! -  BYR, VND or VEF exchange rates?! -  Solution: black market rates! -  Changes and anomalies:! -  LVL -> EUR! -  Romania: EUR instead
 of RON!
    • 2. Getting the Money! 6 -  up to 6 month delay (usually 2-3)! -  318 supported operators:! Expectation: ! ! !Reality:! ! ! ! ! ! Solution: Fortumo Inkasso!
    • 3. International taxation! 7 -  Up to 15-20% withholding tax! -  20 VAT changes per year, shortest announcement: 4 days! -  Telecommunications tax in Turkey: ! -  Play on PC: 0%! -  Play on smartphone: 25%!
    • 4. Endless bureaucracy! 8 -  This is how our Fortumo Finance team looks before the payout:!
    • 5. Payouts to Merchants! 9 -  No single payment method, that works globally.!
    • Conclusion:! 10 ! Interested in Mobile Payments?! ! CALL US!!
    • 11 Thank you!! Andrei Dementjev! andrei@fortumo.com skype: andrei.dementjev