Mobile Money: The Foundation for Food Security by mPay Connect at Tech@State

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This presentation given by mPay Connect Consulting was presented at Tech@State on August 2, 2010 at The US State Department conference on Mobile Money.

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Mobile Money: The Foundation for Food Security by mPay Connect at Tech@State

  1. 1. mPay Connect Consulting Mobile Money: the foundation to food security Menekse Gencer Mail: mgencer@mpayconnect.com Skype: meneks80 August 2, 2010 Company: www.mpayconnect.com
  2. 2. agenda 1. background 2. why mobile money? 3. innovations 4. policy considerations Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 2 2 mgencer@mpayconnect.com Food Security Breakout Session
  3. 3. background Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 3 3 mgencer@mpayconnect.com Food Security Breakout Session
  4. 4. Menekse Gencer Bio • Work Experience: • mPay Connect Consulting Clients include: Citigroup, SKTelecom, Bangladesh venture, US Retailer, US MNO, IADB, World Economic Forum, mHealth Alliance (UN Foundation) • PayPal Mobile Business Development Director • 17+ years high tech, mobile, financial services • Mobile Money Publications: • World Economic Forum, mHealth Alliance on mHealth and mMoney (Fall 2010) • Innovations Magazine (MIT Press) on “(The) Mobile Money Movement: Catalyst to Jumpstart Emerging Markets” (Fall 2010) • “From Afghanistan to Silicon Valley: Mobile Financial Services for the Next Billion Customers” (viewed over 4600 times on Slideshare.net) • Mobile Money Speaking Engagements: • Global MMT conferences • Wharton, HBS , MIT, Columbia • Education: Harvard Economics A.B., Wharton MBA Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 4 4 mgencer@mpayconnect.com Food Security Breakout Session
  5. 5. food security defined “Food security exists when all people, at all times, have physical and economic access to sufficient, safe and nutritious food to meet their dietary needs and food preferences for an active and healthy life.” (FAO, 1996) At base of pyramid, 70% or 2.5 billion people rely on food value chain for their income. Up to 2/3 small farmers are women No bank accounts, but they do have (access to) mobile phones Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 5 5 mgencer@mpayconnect.com Food Security Breakout Session
  6. 6. dimensions to food security Money to buy & invest Sustainability Prices/ / Resources Markets Food Security Nutrition/ Infrastructure Safety /Distribution Production 8/4/2010 Tech@State 6 ©mPay Connect, Inc. State Department Sessions on Mobile Money 6 6 mgencer@mpayconnect.com Food Security Breakout Session
  7. 7. access to money & data underpin all dimensions Money to buy & invest Smooth out income through access to savings and credit Sustainability Prices/ / Resources Markets Mitigate risks through Mitigate risks of price insurance for crop failure Food fluctuations through insurance, savings, data Security Nutrition/ Infrastructure Safety / Distribution Trace source of food Increase speed of access through electronic through money transfers and money flows, and data Production vouchers for food access 8/4/2010 Increase investment through access to Tech@State 7 ©mPay Connect, Inc. State Department Sessions on Mobile Money credit. Gain efficiencies with e- 7 7 mgencer@mpayconnect.com Food Security Breakout Session payments in value chain
  8. 8. issue: precarious cycle further exacerbated by lack of financial services Can’t invest Crop Output Less Money Down Turn to Sex Work Less Farming Can’t buy food Caretaker Burden Up Malnutrition/ Illness Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 8 Source: “New Variant Famine” Hypothesis by mgencer@mpayconnect.com Alex De Waal, mPay Connect Food Security Breakout Session
  9. 9. why mobile money? Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 9 9 mgencer@mpayconnect.com Food Security Breakout Session
  10. 10. mobile money defined Using the mobile phone as a channel to conduct payments, account management, and other financial services Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 10 10 mgencer@mpayconnect.com Food Security Breakout Session
  11. 11. mobile money = (mobile) financial services Mobile Financial Services Mobile Payments Mobile Microfinance Microfinance Mobile Banking Mobile Banking Credit, Savings, P2P C2B B2B B/G 2C Insurance Transactional Informational • Mobile Money Transfer • At store • Replace cash • Salary • Disburse, Repay • Mobile bill payment • Alerts • Domestic or International (proximity payments) in supply chain disbursements • Accrue assets • Brokerage • Account balance & Mobile remittances • Mobile online • Pensions history (e.g. eBay or ringtones) • Rebates • Micropayments (to bill) ©mPay Connect, Inc. Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 11 mgencer@mpayconnect.com Food Security Breakout Session
  12. 12. increases financial access World Economic Pyramid Banks 500 Mill *>$20k/yr Unbanked, 2 Billion Mobile *$3260 to $20k/yr Opportunity: 1.7 Billion in Today 2012 4 Billion 2012 Source: CGAP *<$3260/yr or <$9/day Source: World Resources Institute (*Individual Annual Income: 2005 USD Purchasing Power Parity) Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 12 mgencer@mpayconnect.com Food Security Breakout Session
  13. 13. reduces costs of financial services $ 4.00 Branch $ 3.75 Live Rep $ 1.50 IVR $ .08 Mobile ©mPay Connect, Inc. Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 13 mgencer@mpayconnect.com Food Security Breakout Session
  14. 14. mobile money = foundation for all industries in cash-dependent markets mHealth, Off-Grid Energy, Food Security Mobile Financial Services salary, payments, savings, insurance, credit Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 1414 14 mgencer@mpayconnect.com Food Security Breakout Session
  15. 15. innovations Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 15 15 mgencer@mpayconnect.com Food Security Breakout Session
  16. 16. Syngenta’s Kalimo Salama in Kenya reducing risk and increasing investments through mobile micro-insurance for small holder farmers Kenya Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 1616 mgencer@mpayconnect.com Food Security Breakout Session Kalimo Salama
  17. 17. Mobile Transactions increasing supply chain efficiency and future sales visibility by paying unbanked farmers via mobile vouchers Zambia Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 1717 mgencer@mpayconnect.com Food Security Breakout Session
  18. 18. Nuru International increasing farmer productivity by eliminating “shoe leather costs” and safety issues with mobile account Kenya Agriculture Loans Repay (saves 2 hours of time walking to bank) Educate/Train Surplus output enable savings (safe account) Crop Yields Up 300% Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 1818 mgencer@mpayconnect.com Food Security Breakout Session
  19. 19. Manobi creating supply chain efficiencies and increasing price transparency through mobile data and payments Senegal 1. Certify farmers 2. Secure fair price (mobile) 3. Make purchases of supplies via mobile remotely 4. Improve market linkages 5. 5,000 farmers pilot 6. Commercial scale up in 2 months Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 1919 mgencer@mpayconnect.com Food Security Breakout Session
  20. 20. policy considerations Tech@State ©mPay Connect, Inc. 8/4/2010 State Department Sessions on Mobile Money 20 20 mgencer@mpayconnect.com Food Security Breakout Session
  21. 21. policy considerations 1. Spur Innovation: Lessen burden on smallest, fastest innovators 2. Coordinate efforts: Fragmented efforts, but global solve needed • Cross-Sector to support holistic approach to inter-disciplinary issues (e.g. NVF) • Cross-Country for mobile money to support regional and global value chains (e.g. global food supply chain) • Cross-Enterprise constituents for data sharing on upfront investment outlays (e.g. Fully leveraging solar weather vane network) Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 21 mgencer@mpayconnect.com Food Security Breakout Session
  22. 22. Questions? Menekse Gencer mPay Connect Consulting mgencer@mpayconnect.com • Wharton MBA ‘98, Harvard BA Economics ’93 Special thank you to: LinkedIn Group: Mobile Payments Series – mPay Connect Jody Ranck, Syngenta Foundation, Mobile Transactions, Nuru International, Manobi, World Economic Forum Tech@State ©mPay Connect, Inc. State Department Sessions on Mobile Money 22 mgencer@mpayconnect.com Food Security Breakout Session

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