Fortumo: How to process payments from 318 mobile operators

2,037 views

Published on

Published in: Economy & Finance, Business
  • Be the first to comment

Fortumo: How to process payments from 318 mobile operators

  1. 1. How to Keep Calm and Process Payments from 318 Mobile Operators in 61 Currencies?! Andrei Dementjev! 2013
  2. 2. Fortumo! 2 -  Founded in 2007! -  Live in 74 countries! -  Payments via prepaid or postpaid mobile account! -  Eliminates the need to connect directly to operator!
  3. 3. Business Model! 3 End-user spends 1.00 EUR on golden coins Operator deducts his commission (15-40%) and transfers remaining amount to FortumoFortumo deducts commission (2-5%) and pays to game owner
  4. 4. Challenges with Mobile Money! 4 -  Working with foreign currencies! -  Accounts Receivable (DEBTS) ! -  International taxation ! -  Limitless bureaucracy! -  International payouts!
  5. 5. 1. Foreign Currencies! 5 -  62 currencies = 62 exchange rates! -  Solution: OANDA! -  BYR, VND or VEF exchange rates?! -  Solution: black market rates! -  Changes and anomalies:! -  LVL -> EUR! -  Romania: EUR instead
 of RON!
  6. 6. 2. Getting the Money! 6 -  up to 6 month delay (usually 2-3)! -  318 supported operators:! Expectation: ! ! !Reality:! ! ! ! ! ! Solution: Fortumo Inkasso!
  7. 7. 3. International taxation! 7 -  Up to 15-20% withholding tax! -  20 VAT changes per year, shortest announcement: 4 days! -  Telecommunications tax in Turkey: ! -  Play on PC: 0%! -  Play on smartphone: 25%!
  8. 8. 4. Endless bureaucracy! 8 -  This is how our Fortumo Finance team looks before the payout:!
  9. 9. 5. Payouts to Merchants! 9 -  No single payment method, that works globally.!
  10. 10. Conclusion:! 10 ! Interested in Mobile Payments?! ! CALL US!!
  11. 11. 11 Thank you!! Andrei Dementjev! andrei@fortumo.com skype: andrei.dementjev

×