Nokia Money

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My analysis and predictions about design choices for upcoming Nokia Money Service.

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Nokia Money

  1. 1. NOKIA MONEY Sachin Gaur, Seminar on Network Economics
  2. 2. Introduction “Creating money is easy. The hard part is getting it accepted.” Economist Hyam Minsky ,1986
  3. 3. Salient points   Nokia Money will be launched with Obopay providing the technology in early 2010.   Nokia will have to compete with Mobile operators (Mpesa, Vodafone), conflict of interest   Distribution channel: recruitment of money agents and widespread access to them   Service is positioned both as payment and remittance service.
  4. 4. Literature survey Based on H. Bouwman book,”Mobile services innovation and business models”   Four important values   Cost, Reach, Security and Ease of Use.   Crucial factors   Involvement of a bank   Providing trust and reach   Use of low-tech solutions   Keeping costs low and ease of use
  5. 5. Identify: Design choices
  6. 6. Deconstruct
  7. 7. Triggers
  8. 8. System Dynamics Model: Complex
  9. 9. System Dynamics Model: Simple
  10. 10. System Dynamics Model: Simple
  11. 11. System Dynamics Model: Simple
  12. 12. System Dynamics Model: Simple
  13. 13. System Dynamics Model: Simple
  14. 14. Summary   Nokia to register as a bank or tie-up with bank   Toensure less interference of local govt and enable trust   Reachability   Building of Money agent network is crucial   Trust   Same as point 1.   Cost   Having less partners in value chain
  15. 15. Summary “Partnerships with banks and use of low technology solutions are important success factors for mobile remittance services”.
  16. 16. Thanks

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