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10×6 Fintech: un nouveau pilier? Michael Jackson, Mangrove Capital Partners
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.
10×6 Fintech: un nouveau pilier? Michael Jackson, Mangrove Capital Partners
- 2. Riding on thebacks of Unicorns Michael Jackson Mangrove Capital
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- 12. Lion fights theunicorn
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- 17. 2,3 million Danesuse 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 benefitsfrom adoption of new products
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- 25. 1. Luxembourg benefitsfrom adoption of new products 2. Existing players must let people use what they have
- 27. 1. Luxembourg benefitsfrom 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 needto create Unicorns But we must know how to ride them
Editor's Notes
- #4 There’s a new term in Venture Capital. It is a class of companies called Unicorns. They’re companies valued at over a billion dollars.
- #5 Some Unicorns
- #6 Some Unicorns
- #7 Some Unicorns
- #8 Some Unicorns
- #9 Luxembourg will never be Silicon Valley. Just as we’ll never be Hollywood
- #10 Luxembourg will never be Silicon Valley. Just as we’ll never be Hollywood
- #11 Luxembourg will never be Silicon Valley. Just as we’ll never be Hollywood
- #12 False Unicorns 1. Look at the waterfall on Lendico - just 2% of loans requested are actually approved and issued 2. Look at relatively low activity level in SME lending - just 232 loans in 6 months, and again just 20% approved
- #13 The Lion Fights the Unicorn
- #14 Moving up the value chain
- #17 Cut some slack, story of mobile pay
- #18 Cut some slack, story of mobile pay
- #21 Cut some slack, story of mobile pay
- #25 Corporate Social Responisbility