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fonePaisa Intro v6


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fonePaisa Intro v6

  1. 1. fonePaisa Universal Mobile Payment Solution
  2. 2. This is a privileged presentation of an innovative concept, which is pending patent registration for its business idea, process flows, technology, solution architecture, partner benefits, but not limited to. All copyright and trademarks, including brand name “fonePaisa”, logos are protected, with undisputed rights resting with “fonePaisa Payment Solutions Private Limited”. No one, including the intended audience and/or recipient of this presentation is allowed to store, retrieve, share, disclose, show privately any part of this presentation; without an explicit written permission from “fonePaisa Payment Solutions Private Limited” If you have any potential or known conflict of interest, and/or if you are into or likely to commence business in the area of “IMPS based Mobile Payment Solution”, please bring it to the attention of the presenter or the person, who has sent this presentation to you. Please immediately delete, expunge all copies of this presentation, including temporary save areas of any electronic device or any other mode, including any mailbox on the internet; which may violate this NDA/NCA or in the case, you have received this presentation in error. Please inform for any discrepancy. Non-Disclosure Agreement 29-Apr-15 Confidential fonePaisa | copyright 2014 2
  3. 3. 29-Apr-15 Confidential fonePaisa | copyright 2014 3 About fonePaisa Team Sharad Hegde (Founder Chairman) was the first employee (non- founder) of Infosys and has also been CTO at Infosys. Sharad was the chief architect of Finacle. He is a graduate from IIT Chennai and a post-graduate from NITIE, Mumbai. Ritesh Agarwal (Founder COO) is from Branch Banking background. He has worked with ICICI Bank and big software companies like Polaris, Fidelity and Misys. He has CBS implementation experience at international banks. He did PGDM from TAPMI, Manipal. C. S. Prasad Subramanian (Director-Technology) was Head – Finacle CBS at Infosys. He was chief product officer at iCreate software. He was director and founding partner at IncValue Advisors Private Ltd. He did his PGSM from IIM-B.
  4. 4. 29-Apr-15 Confidential fonePaisa | copyright 2014 4 Toooooooo Many Payment Options Customer is NOT loyal to a specific payment option for loyalty, but for greed of offers and discounts…. Customer is overwhelmed with soooooo many apps for payments… All corporate logos and trademarks are acknowledged. Bank’s Mobile Apps Semi-closed Wallet Apps OLA MONEY Closed-loop Wallet Apps But Prominent in web-based payments
  5. 5. Would customer actually download so many payment apps…. ANSWER IS NO 29-Apr-15 Confidential fonePaisa | copyright 2014 5 Current Payment Options No mobile app supports user approval for merchant/bill payments Other than & wallets are the only payment options Card MDR is high….
  6. 6. 29-Apr-15 Confidential fonePaisa | copyright 2014 6 Challenges in current merchant payments No Player currently offers bank-agnostic IMPS based merchant payments Bank’s mobile app can serve only their own customers. Limited Audience SMS based IMPS lacks security. Unsecure Txn USSD lacks UI and has too many steps. Does not support merchant payments Bad UXP IVR takes much longer to transact. User Un-friendly Merchant wants: 1. Lower MDR 2. Real Time Settlement 3. Agnostic of issuing bank 4. Fast Transaction 5. Economic COD operations Consumer
  7. 7. 29-Apr-15 Confidential fonePaisa | copyright 2014 7 What to do now….? Divorce the merchant acceptance of specific payment mechanism and customer choice of source of fund Payment App Aggregation is need of the hour OLA Money
  8. 8. Issuing Bank Sponsor Bank 29-Apr-15 Confidential fonePaisa | copyright 2014 8 Trusted Party Application SPONSOR BANK INTERFACE fonePaisa Display for user to approve / reject User Enters mPin To approve txn Txn confirmed to user Bill Invoice Details + Customer Mobile No. Biller sends invoice details to fonePaisa fonePaisa App on buyer mobile Txn confirmed to user
  9. 9. 29-Apr-15 Confidential fonePaisa | copyright 2014 9 FAQ 1. Our ‘Mobile Banking’ app already has IMPS Push capability, then why should we partner with fonePaisa? 2. Is FP allowed to receive mPin? 3. Will FP support Pull/Push txn? 4. Does fonePaisa require specific phone type or a mandatory data plan? 1. mBanking app serves only bank’s customers. FP would bring business from other banks’ customers also. 2. NPCI allows sponsor bank to certify 3rd party trusted app to receive mPin. 3. Yes. We shall Push/Transfer from consumer app and Pull transactions from merchant app. 4. fonePaisa works with all consumer phone types, even without data plan. In the absence of data plan, fonePaisa app communicates over Encrypted SMS.
  10. 10. 29-Apr-15 Confidential fonePaisa | copyright 2014 10 What else in fonePaisa…? 1. Compete with Cash Payments 2. Compete with card based payments 3. Launch QR Code based app 4. Launch Web-based Payments 5. Complement bank’s mobile strategy 6. Technical advancements : NFC, BLE As we grow over time
  11. 11. Thank you Please Contact: Ritesh Agarwal +91 – 97312 55422