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Interoperability of Mobile Money Services by Sridhar Obilisetty

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INTEROPERABILITY brings in SYNERGY where interconnections with external parties can create greater value for customers and service providers than a single mobile money service provider can create alone.

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Interoperability of Mobile Money Services by Sridhar Obilisetty

  1. 1. Sridhar Obilisetty, CEO, mFino Ltd Cupertino | Jakarta | Hyderabad, India | Singapore
  2. 2. Mobile Money Market Scenario in Africa Current Mobile Money Deployments in the Continent Close to 80 Mobile Money Deployments in Africa Contributed to more than 4.5 % of the Sub Saharan Africa’s GDP or $32 Billion 80% of worlds mobile money transactions happen in East Africa The industry accounts for 350 million jobs High mobile phone adoption – 1 Billion people in Africa with 700 million connections Source: Africa Review - December 30th 2012, GSM Association
  3. 3. Current Market Overview in Nigeria Mobile Money agents currently stand at 3000 Expected to grow to 50,000 by 2015 2012 Mobile Money transactions: N228 million Expected Mobile Money transactions by 2015: N151 Billion Non Store shopping increased from N62 Million in 2011 to N77.5 billion 2012 Non store shopping expected to grow by N658 Billion by 2015 26 million banked out of 167 million Nigerian population Source: All Africa 3rd January 2013
  4. 4. Interoperabilityis the ability of diverse systems and organizations, to work with each other, in the present or the future, without any restricted access.
  5. 5. Customers Limited universe to do m-Commerce True value of Mobile Money not unleashed Policy Makers Struggling to understand regulatory approach Businesses Would want to recoup investments made Apprehensive of government intervention, to give up advantage Interoperability - Current Scenario
  6. 6. Current Scenario – Only On-Network Transactions Cross Network Mobile Money transactions not possible On-NetworkMobileMoney transactionsarepossible On-NetworkMobileMoney transactionsarepossible
  7. 7. Why Interoperability ? • Subscribers are restricted to on-network transactions, • Agents are exclusive to one mobile money service provider • Subscribers are limited to accessing their mobile money account only from one SIM SMS usage before July 98 SMS usage post April 99 after SMS interconnection between operators Has Interoperability been achieved in the Mobile industry….?? Yes, cross network SMS is an example of interoperability success Source: Mobile Data Association
  8. 8. With Interoperability Cross Network Transactions are possible Cross Network Mobile Money transactions are possible On-NetworkMobileMoney transactionsarepossible On-NetworkMobileMoney transactionsarepossible Payment Switch
  9. 9. Interoperability – An Enabler Product Innovation • Remittances and Airtime top-ups are 95% of the Mobile money transactions in the world • Invite banks, micro finance institutions, third parties to use Mobile Money infra • Make a greater range of products and services available to customers Enable payments to and from the unbanked • Distribution of cash remains expensive and insecure • Need of industry collaboration to enable bulk electronic payments • Ease payment acceptance from completely unbanked population Replace cash with e-money for day to day transactions • Still the most dominant - money transfer followed by complete cash out • Establishing interoperability allows operators more frequent and proximate transactions • Lesser reliance on cash, provide convenience and increase relevance of e-money
  10. 10. INTEROPERABILITY brings in SYNERGY where interconnections with external parties can create greater value for customers and service providers than a single mobile money service provider can create alone.
  11. 11. Options to Achieve Interoperability Across Mobile Payments Services
  12. 12. Platform Level Interoperability Agent Level Interoperability Customer Level Interoperability
  13. 13. Benefits of Interoperability • Interoperability will benefit service providers by expanding the pool of customers • Increased revenue through transactional volumes • Minimises the need for retail agents to have cash, which is costly to move around between different agents. • Interoperability could serve as a primary lever by which to reduce redundant costs and expand access
  14. 14. Interoperability Use Case 1 Abike, a fruit vendor in the local market in Abuja has an MTN mobile money account. After a busy day, Abike secures her days’ takings by paying into her mobile wallet via the agent in the town. Since there is no MTN agent near the market, Abike goes to an Airtel agent who helps her in depositing her money into her MTN mobile money account.
  15. 15. Interoperability Use Case 2 Ameerah, an Airtel mobile money account subscriber wants to send money to her friend Abike, an MTN mobile money account subscriber. Interoperability makes it easy for Ameerah to send money to her friend who is on a different network (cross-network) Sridhar Obilisetty, CEO, mFino Ltd Cupertino | Jakarta | Hyderabad, India | Singapore

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