1. Who is WIZZIT
• Global pioneers in innovative
banking for the mass market
• Operational in 8 countries
• Proven track record since 2004
• Over 5 million customers
through our bank partners
• Innovative and state of the art
technology
• Device and network agnostic
2. Who is WIZZIT
• President Bill Clinton invitation to address
the Clinton Global Initiative on the WIZZIT
model as a means to bank a billion.
• CGap–Gates Foundation Grant
• Netexplorateur Grand Prix for Innovation
awarded by the French Minister of Finance
• Top Three innovative Banks in Africa -African
Journal of Banking
• Finalist in Stockholm Challenge for banking
innovation
• Twice finalists in Financial Times and IFC
awards for banking in Emerging Markets
• Invitation to address G20 Summit in
Financial inclusion in Mexico
• Invited guest speaker at Harvard Businss
3. The 'day' that Albert Einstein most feared
may have finally arrived:
15. Cash is the Enemy
Cash is king - 80% of retail.
Cash in circulation grew by 19%
Cost of cash carried by the
unbanked.
Barrier to the adoption to the
alternative to cash is the acquiring.
Mobile solves it.
19. UK trends –
UK Payments Council –Aug 2013
• The number of cash payments made
in the UK will fall by a third from 21
billion in 2012 to around 14 billion in
2022
• cheques - transactions expected to
plummet from 477 million in 2012 to
186 million in 2022
• card use will rise by 75% from nearly
10 billion payments in 2012 to around
17 billion in 2022, with debit, rather
than credit, driving the growth.
• Mobile payments - from 356 million
payments in 2012 to around 1.5 billion
in 2022
20.
21.
22. Trends
The cost of being
The cost of being
unbanked is estimated
unbanked is estimated
at $40000 over an
at $40000 over an
individuals life
individuals life
24. Where are we?
•
•
•
•
•
150 live implementations.
70% provided by MNO
9 operating at breakeven or better
56% in SSA
82 million registered users
• 30 million active
• 60% from East Africa
• 20% active
•
•
•
•
224 million TX worth $4,6Bl
Airtime top up =61% of all TX
Transfers = 32% of TX
Merchant Payment = 0,2% of Tx
30. WIZZIT
• Launched in SA as a blue print
and test case for global
expansion
• Recognized as pioneers and
global leaders
• SA very tough market
• Branchless Banking through
WIZZkids
• Copied
• 500 000 customers in SA
• Learnt a lot that we can pass on
• Tx are key. Varies from 0 to 80
31. Frequency of conducting banking through cellphone
On average, WIZZIT users conduct more banking transactions
(n=215)
per month and use cellphone banking as a channel to do
banking far more than non-users and other channels
Once a month
25%
Less than once a
month
5%
Twice a month
14%
On average conduct 4.38
cellphone banking
transactions per month
Three times a month
10%
Morea than six times
a month
18%
Four times a month
9%
More than four times Five times a month
a month
10%
9%
Source: E9, E13c.
Filtered on banked respondents
*Means based on: 5 = more than four times a month, 4 = four times a month, 3 = three times a month, 2
= twice a month, 1= once a month
33. What we learnt
•Coca Cola:
•Buy in from top management
•Changing behaviour in Shops
•They use Coke as the bank
•Incentive to change
•Consumer Behaviour:
•Kids
•Small value purchases
•Shop owners:
•Foreigners – regulations
•Tax
34. What we learnt
•DUNNS:
•Buy in from top management
•Changing behaviour in Shops
•Staff are not sales people
•Incentive for staff and shop
•Consumer Behaviour:
•Incentive for customers
•COST
•Advertising and POS material
•Direct access to store staff
•All or nothing
35. What we have learnt
•Post Office:
•Advertising on its own does not
work
•Creating awareness and a call
to action in one campaign very
difficult
37. What makes for success
• Level of Investment
• Capex – not significant
• Opex - more than what people think
• Organisation Structure
• Must have committed CEO
• Most set up as separate SBU
• Marketing Strategy
• ATL – advertising to create awareness
• BTL – agents and promotions
• Distribution
• Immediate Tx after activation
• Focus on 1 or 2 products initially
FINANCIAL SERVICES
38. Research
• Forrester analyst Benjamin Ensor says:
• "The longer we spend researching mobile
banking, the more convinced I become
that mobile banking is the most important
innovation, or cluster of innovations, in
retail banking in years, arguably in a
century."
39. Key Take Aways
•
Mobile Payments is NOT Mobile Banking
•Needs are continually changing
•Trust and credibility is Key
•Changing behaviour is not easy
•The market is easily frightened.
•Quality NOT Quantity is key
