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Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
Ray Anderson Virtual Goods Forum presentation, 24 June 2010
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Ray Anderson Virtual Goods Forum presentation, 24 June 2010

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Presentation by Ray Anderson, CEO of Bango, at the Virtual Goods Forum on 24th June. …

Presentation by Ray Anderson, CEO of Bango, at the Virtual Goods Forum on 24th June.

Topics covered:

Transferring value into the Virtual World - Mobile and PC payment options
* Benefiting from vrtual success - getting real money from virtual goods
* Trafficking, Terror and Drugs - Money Laundering through Virtual Goods

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Transcript

  • 1. Virtual Goods as a Proxy for Money or Real Goods Ray Anderson, Bango CEO 24th June 2010 © 2010 Bango plc www.bango.com
  • 2. Who is Bango? Company Products Customers include Bango provides the Bango Payment technology that enables High efficiency collection of payments from mobile phone commerce with mobile users anywhere in the world users. Founded 1999 Bango Analytics Precise measurement of mobile user activity, marketing New York and Cambridge (UK) campaign effectiveness and revenue from mobile sites. London Stock Exchange Mobile operator (BGO.L) relationships 1000+ customers Awards Billions of transactions: - 70m users - All countries 2 2
  • 3. Bango for websites selling content: (2) Bango collects (3) Content Provider (1) User browses payment provides to mobile site / app for content download page Marketing Campaign Payment Confirmed Viral, App or Bookmark Maximize number of payments Bango unique technology Bango collects payment by selecting and relationships have been “best biller” based on user, user developed to maximize number history, content type & other factors and value of successful payments Bango BillRank™ Competitive Advantages: Aggregators Operator Billing Alternates Resell Premium SMS billing Direct connect to operator to expand coverage - Biller Independent (select best) - Operator Relationships - User histories across many CP - End user experience - Comprehensive reporting - Cross border transactions 3 3
  • 4. The Amsterdam Experience • Cannabis Leaf Logo for €5 4562 4
  • 5. Payment Method Drivers Cash Preference Anonymity Security Legal Restrictions 5
  • 6. But … Operator Billing Mobile Operator keeps c.35% Bango system generates payment by phone user on billing system. Bango sends Content Provider c.60% Bango 5% 6 6
  • 7. $US 1.00 in various virtual currencies • 10 Facebook Credits • 125-170 WOW Gold (World of Warcraft) • 80 Microsoft Points • 10 Project Entropia Dollars (Entropia Universe) • 6 Q coins (QQ.com) • 250 Linden Dollars (Second Life) • 1.5mil Star Wars Galaxies Credits • 6 Habbo Coins (Habbo Hotel) • 10 Twollars (Twitter) • 100 Nintendo points • 1,000 IMVU credits • 80 hi5 coins • 5 Farm Cash (FarmVille) • 5.71 WildCoins (WildTangent WildGames) • 2,000 Therebucks • 100 Whyville Pearls • 2.5mil ISK (EVE Online) • 0.75 Mahalo Dollars • 4 Zealies (Dogster) • 10 Ven (Hub Culture) * Values are approximate. 7
  • 8. Paypal Model 1 Customer makes purchase. 2 PayPal determines likelihood of sufficient funds in customer’s bank account. 3 If OK, Paypal sends money to merchant’s Paypal account, minus a fee. 4 Paypal sends transaction data to third-party processor. 5 Processor requests payment from card- issuing bank (or customer’s bank account). 6 Card-issuing bank transfers payment to processor. 7 Processor transfers payment to Paypal, minus a fee. Diagram based on wired magazine 8
  • 9. Credit Card Model 1 Merchant runs customer’s card through card reader, for which it pays a fee. 2 Reader sends sales data to merchant’s bank. 3 Merchant’s bank requests approval from the card-issuing bank. 4 Card-issuing bank grants approval. 5 Merchant’s bank sends approval to Reader. 6 Merchant approves sale. 7 Merchant sends record of transactions to its bank for processing. 8 Merchant’s bank requests payment from card- issuing bank. 9 Card-issuing bank transfers funds, minus a fee. Diagram based on wired magazine 10 Merchant’s bank deposits payment in account, minus a fee. 9
  • 10. Store Vouchers • Harrods Gift Card 10
  • 11. iTunes Model Apple’s online store cuts credit card fees and friction by bundling a customer’s purchases over time and processing them as one transaction. 1 Customer orders and downloads purchase from iTunes. 2 iTunes aggregates orders over a period of time, then requests payment from card- issuing bank. 3 Card-issuing bank transfers payment, minus a fee. Diagram based on wired magazine 11
  • 12. Linden Labs / Second Life 12
  • 13. Bango Value • $10 Bango Value – redeemed for $10 Content / Game / App • $10 converted to Cash at 70% (Operator normally takes 30%) • Possible to buy pre-pay Bango Value for $7.50 • Profit from Trading 13
  • 14. “Currency Exchange” 14
  • 15. “Currency Exchange” 15
  • 16. Protections • AML • KYC • Fraud • Bullying • Remorse But … Cellular approach… Outpayment Delay… 16
  • 17. Conclusions • Proxying is live today • Highly competitive with “real money” • Can more easily be used for rewards • Great fit with Mobile 17

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