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Mobile Monday (May 2014) - Ooredoo - Introduction to Mobile Financial Services
 

Mobile Monday (May 2014) - Ooredoo - Introduction to Mobile Financial Services

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Presented by Jennifer Ong, Marketing Manager of Ooredoo Myanmar.

Presented by Jennifer Ong, Marketing Manager of Ooredoo Myanmar.

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    Mobile Monday (May 2014) - Ooredoo - Introduction to Mobile Financial Services Mobile Monday (May 2014) - Ooredoo - Introduction to Mobile Financial Services Presentation Transcript

    • Mobile Monday Presentation - Introduction to Mobile Financial Services Jennifer Ong Marketing Manager, Mobile Financial Services 26 May 2014
    • 2 | | Mobile money is different from mobile banking – the two can co-exist Mobile Banking Mobile Money §  Is a service designed for the underserved. It enables them to open an account with smaller transaction limits and with lowered costs that they can access through any phone and through an agent network. §  Typically involves a telecom operator and a bank working together. §  Is a service enabling existing bank customers to access their bank accounts. §  Is typically run by a bank that releases a smartphone based application that enable its customers to access their bank account using their smartphone. Path Towards Financial Inclusion Customers Premium For Convenience
    • 3 | | Mobile Money provides access to financial services for the underserved §  Mobile Money is addressed to those who can’t afford a bank account and/or who live too far from a bank branch. §  Mobile Money leverages on the phones and on the footprint of telecom operators to provide access to financial services to millions of customers. §  It is a sustainable, scalable approach to providing safe, convenient and affordable financial services to the unbanked.
    • 4 | | Ooredoo mMoney Will Benefit The Population Enormously §  Security – Secure transactions through the phone and at trained agents. §  Safety – Customers authentication process in line with the KYC regulation and vetted by Ooredoo’s partner bank – CB Bank. §  Convenience – Simple to use and easy to grasp, customers can start using mobile money to store and transfer their funds securely. The launch of Mobile Money by Ooredoo will accelerate the availability of affordable financial services for the Underserved
    • 5 | | Financial services offered usually start with basic services and develop into more complex services as market matures Domestic remittance Airtime top-up Bill payment Salary disbursement International remittance Open loop cards Credit Savings Insurance Basic services More advanced services
    • 6 | | Two different types of models exist for mobile money Over the counter Mobile wallet Description: •  Customers have no wallets on their phones •  Transactions are performed by agents on behalf of the customer •  Customers have wallets on their phones that stores eMoney •  Customers perform transactions themselves Agents’ function: •  Perform transaction (e.g. money transfer, bill payment, etc) •  Allow customers to cash-in and cash-out
    • 7 | | Conclusion What does mobile money mean for Myanmar?