Can Mobile Devices Be Used to Better Serve the Underbanked?
Can Mobile Devices Be Used toBetter Serve the Underbanked?
2About PlastycOur mission: deliver the power of a bank account in everybody’s phone To the traditionally under-served + the angry-banked + too young to care about banksUPside Visa Prepaid CardiBankUP
3 Our Audience Household IncomeLess Affluent Education LevelNo College Education (measured by Quantcast: http://www.quantcast.com/upsidecard.com )
4Under-banked, under-insured, but not under-phoned80% of our cardholdershave a smartphone Android ≈ 57% iPhone ≈ 23%Measured by our mobile serversApril1-April3 2012
6We cover all options Any phone with a Smartphone Low-cost tablet web browser (free app from Google Play (free app on (no app) Store or iTunes App Store) Amazon app store)
7All account features are accessible via mobile Balance & Statements Load cash via MoneyPaks Initiate Direct Deposits Write paper checks on demand Direct airtime refill of cellphones Manage cash-back rewards Activate companion cards Remote cash loads Manage Savings Purse Access Customer Service
8ExampleYour phoneis your checkbook (except smarter)
9Benefits of smartphone apps Everything the Mobile Web does + Programmable Direct Geo-located Alerts Phone Support Services
10Building Trust Alerts are “Fee Box” sent upon shows all the events fees using chosen by the CFSI the customer proposed format
11Smaller Screens = Bigger Impact• Mobile banking is more mission-critical for under-banked customers than for well-banked and wealthy individuals• Under-banked people are better mobilized than the US average• Push notifications to smartphones are the holy grail of better communication with customers: free and 100% open rate• Payments via a phone are important for under-banked people for crucial things like bills, rent, receiving cash or direct deposits, not for making fancy touch-and-go NFC payments in taxi cabs…
12Thank You! See demos and screenshots at www.plastyc.com Contact us at: firstname.lastname@example.org 646-485-5267