The document discusses MobilePay, a Danish payment product that has over 2.3 million users. It was successful because it allowed users to link their local debit cards, making transactions cheaper than credit cards. Additionally, when first launching, the regulator allowed MobilePay to operate for a year without know-your-customer checks while making a decision on regulations. The document also discusses how Luxembourg can benefit from new financial products and that established companies should support using existing payment methods in new ways.

2. Riding on the backs of Unicorns
Michael Jackson
Mangrove Capital

11. False Unicorns

12. Lion fights the unicorn

14. Fund industry

15. Fund industry

17. 2,3 million Danes use this product
And still growing.
It has changed the way people
transact.

18. A Danish Unicorn ? Why successful ?
• Users of MobilePay are able to attach their local
danish debit card as a loading source. The local
debit card system is much cheaper than
MasterCard/VISA transactions and unlike direct
debit not charged back easily by the customer.
Easier for customer and more secure for
provider.
• Because the product was new, they went to see
the regulator to ask how to handle the product.
The regulator said they could run a year without
any kyc while the regulator wanted to take a
decision.

19. A Danish Unicorn ? Why successful ?
• Users of MobilePay are able to attach their local
danish debit card as a loading source. The local
debit card system is much cheaper than
MasterCard/VISA transactions and unlike SEPA
direct debit not charged back easily by the
customer. Easier for customer and more secure
for provider.
• Because the product was new, they went to see
the regulator to ask how to handle the product.
The regulator said they could run a year
without any kyc while the regulator wanted
to take a decision.

21. 1. Luxembourg benefits from adoption of new
products

22. Startup support everywhere

23. Startup support everywhere
But nowhere

25. 1. Luxembourg benefits from adoption of new
products
2. Existing players must let people use what they
have

27. 1. Luxembourg benefits from adoption of new
products
2. Existing players must let people use what they
have
3. The forums we have in Luxembourg have a
true need for info from the wide world.

28. We don’t need to create Unicorns
But we must know how to ride them