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121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Developments in Digital Cross-border and Domestic Money Transfer
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121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Developments in Digital Cross-border and Domestic Money Transfer

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    121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Developments in Digital Cross-border and Domestic Money Transfer 121010_Mobile Banking & Payments for Emerging Asia Summit 2012_Developments in Digital Cross-border and Domestic Money Transfer Presentation Transcript

    • Developments in Digital Cross-border and Domestic Money Transfer Gregg Marshall Global Head, Mobile Transaction ServicesMobile Banking and Payments Emerging Asia Summit 2012 – October 9, 2012
    • Continue to expand MNO* Relationships & maintain leadershipAgenda • Getting Started With Mobile Remittance • 1. Current state of play in mobile remittance • Whither digital money? • Challenges facing the “mobilization” of money • What’s working and why • The road ahead viewed from here • e. Operations • f. Customer Support • g. Marketing and Business Development • 3. The Road Ahead – what’s next and what’s coming
    • Western Union Today Other: 2% C2B: 12% B2B: 2% C2C: 84% C2C overwhelmingly cash to cash 3
    • Targeting the Needs of 4 Billion Underserved Meeting the Needs of 2 Billion Underserved Higher Net Worth 800M-1B Underserved 700-900M Unbanked 1.5-2B Extreme Unbanked 1.5-2.5B ….and providing financial services to those without access to traditional banking servicesSOURCE: McKinsey & Co., “Half the World is Unbanked”, October 2009; CGAP, “Financial Access” 2009; C.K. Prahalad,“Fortune at the Bottom of the Pyramid” 2004; Hammond et all, “Purchasing Power at the Bottom of the Pyramid” , 2007;World Bank 2009 Bottom of the Pyramid population, Company analysis
    • Key Strategic Growth Areas Global Consumer Ventures Financial Services Business Solutions New products, services Money transfer, bill pay and electronic channels Cross-border business payments
    • Retail Agent Partner NetworkAgent Location Growth 485,000 200,000 120,000 86,000 1996 2001 2006 2011 Over 200 countries and 16,000 corridors
    • Key DevelopmentsSan Francisco WU Digital  Established base in September 2011  Digital product and biz dev  Relocating key competencies  Hiring new breed of talent  Expanding operations and technology capabilities 7
    • Online Money TransferOriginating businessin 23 countries$100M+ revenue 2011Strong marginsGrowth accelerating fromsingle digit to 35% in 2011Investment focus 8
    • Key DevelopmentsNew service for bank account payout  Launched in December 2011 in U.S.  Recently expanded to U.K., Australia  Payout to banks in 38 countries  Ramping up  90% new customers/use case  Expanding to new payout geographies ACCOUNT 9
    • Key DevelopmentsLaunched proprietary alternativepayment method  Acquired startup eBillme  Bank push / cash  Portfolio of gift card & merchant for e-commerce  Activating in the U.S., selected geographical expansion 10
    • Continue to expand MNO* Relationships & maintain leadershipMobile Money Transfer 120 + wallet initiatives globally (GSMA) Approximately 30 partners for WU All continents 15+ operations live C2M, M2C and M2M Established brand and presence Early stages of a 3-5 year opportunity
    • Western Union, a Branded Hub Goal of $500M+ digital revenue by 2015
    • Challenges in Mobile• User Adoption • People change slowly• Regulation • Bank-led models• Technology • Weak underfunded vendors• New business for MNOs and banks • Lack of critical skills and support
    • What’s working and why?• mPesa in Kenya • 14M active users • 25+% of all payments in Kenya• Why? • Hands off regulator • Investment in adoption • Distributor care • Market dynamics
    • The Road Ahead and/or ………..
    • Lets talk about it.... Gregg Marshall gregg.marshall@westernunion.com©2012 Western Union Holdings, Inc. All Rights Reserved. The WESTERN UNION name, logo, trade name, trade dress and related trademarks and service marks, owned by Western Union Holdings,Inc., are registered and/or used in the U.S. and many foreign countries. This material is proprietary to Western Union and cannot be used, reproduced, copied, displayed, distributed or used toprepare derivative works without the prior written consent of Western Union.