This document discusses the current state of mobile payment technologies and services globally and identifies lessons that can inform the development of an ideal cloud wallet. It notes several existing mobile payment platforms like M-PESA in Kenya, Venmo and Square in the US, and SK Planet Wallet in South Korea. While Thailand has interest from banks and mobile providers in mobile payments, the document argues Thailand is not yet ready for a universal cloud wallet due to reliance on physical wallets and cards. It suggests starting with niche markets like gamers, young people, online shoppers, and housewives to gain traction before expanding.

1. MY IDEAL CLOUD WALLET
by Natt Phenjati | May 2014

2. WHERE ARE WE TODAY?

3. 3
has over 10 million subscribers and 2.5
activer users per month in South Korea.
The service become popular because
of its feature that allows use to keep
multiple loyalty cards in one place.
Source: http://www.gsma.com/digitalcommerce/wp-content/uploads/2013/10/SK-planet-wallet-case-study-LR.pdf
SK SMART WALLET

4. 4
M-PESA
M-PESA, Kenya mobile money transfer and microfinancing service,
had 9 million users with $320 million transaction per month in 2009.
Now, it has expanded to multiple countries, such as Afghanistan and
India, and is expanding to Eastern Europe.
Source: http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:22551641~pagePK:146736~piPK:146830~theSitePK:258644,00.html

5. 5
APPLE
is entering the field of mobile
payment. Tim Cook says:
“We have almost 800 million
iTunes accounts and the
majority of those have credit
cards behind them. We already
have people using Touch ID to
buy things across our store, so
it’s an area of interest to us.”
Source: http://www.cnbc.com/id/101642069

6. 6
recently rebranded with new logo,
mobile-first website, updated
wallet feature. Carey Kolaja, VP of
Paypal, said “We don’t just want to
keep up. We want to lead.”
Source: http://techcrunch.com/2014/05/15/paypal-updates-its-account-pages-to-look-more-
mobile-less-old-school/
PAYPAL

7. 7
1,000+ STARTUPS

8. 8
SQUARE
replaced its unsuccessful Wallet
app with Square Order app
that focuses on ordering and
paying food ahead of time to
allow customers to skip lines.
Source: http://gigaom.com/2014/05/12/square-retools-consumer-mobile-
payments-replacing-wallet-with-a-new-app-called-order/

9. 9
is a mobile banking that helps
customers save money through
goal setting and learn more from
that their spending. Recently, it
was bought by BBVA for $117M.
Source: http://techcrunch.com/2014/02/20/simple-acquired-for-117m-will-continue-to-
operate-separately-under-its-own-brand/
SIMPLE

10. 10
allows people to transfer money to friends
and posts updates for other friends to see
(free for debit card). Venmo gets popular
among college students. Venmo is owned
by Braintree, a subsidiary of eBay.
Source: http://www.usatoday.com/story/tech/columnist/talkingtech/2014/05/03/mobile-apps-replace-cash-on-
campus/8576347/
VENMO

11. 11
OTHER INTERESTING STARTUPS
http://www.movenbank.com https://onlycoin.com
https://www.kickstarter.com/
projects/1404403369/geode-from-icache

12. 12
All the big banks and mobile service
providers in Thailand are trying to get their
hands into the field of mobile payment.
PLAYERS IN THAILAND

13. 13
OTHER PLAYERS IN MOBILE PAYMENT

14. WHAT CAN WE LEARN?

15. 15
THE IDEAL CLOUD WALLET HAS TO FIT
ITS CULTURAL CONTEXT
LESSON 1
M-PESA VENMO

16. 16
ONLY SOLVING PAYMENT FRICTION IS
NOT ENOUGH TO CHANGE BEHAVIOR
LESSON 2
SQUARE ORDER UBER

17. 17
LESSON 3
SK-WALLET GOOGLE WALLET
THE IDEAL CLOUD WALLET NEED TO BE
TRUSTED AND UNIVERSALLY ACCEPTED

18. DOES THAILAND READY FOR
AN IDEAL CLOUD WALLET?

19. 19
NOT YET...
Nowadays, it is not possible to
survive in Bangkok for one day
without using a physical wallet
and its content. I need crash,
MRT card, driver license, and
etc. On the other hand, I barely
need my credit card.

20. WHERE SHOULD WE START?

21. 21
START WITH NICHE MARKET
Merchant
Gamer
Young generation
Need to buy stuffs online
No credit card
Shopper
Carry multiple cards
Price concern
Shop online and offine
Housewife
Manage house spending
Has to stay home a lot
Take care of bill payments

22. www.nattphenjati.com