Online Money Transfer Solutions - IMTC Nov 2013

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Presentation highlighting the challenges of transitioning/entering the online money transfer marketplace. Originally presented at November 2013 IMTC.

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Online Money Transfer Solutions - IMTC Nov 2013

  1. 1. Online Money Transfer Solutions Jonathan Cooper IMTC Conference November 7, 2013
  2. 2. Introduction -Who am I? -WireCash: ”Expedia of money remittance” -Enabling remittance companies to transact online 2 of 13
  3. 3. Online Benefits - Gold Rush ● Market Opportunity ● Fewer players, less saturation ● Leverage licenses & distribution 3 of 13
  4. 4. Online Market Opportunity ● $500 million- Western Union 2015 online revenue projection* Internet Usage by Latinos 2009-2012 ● 90%- Xoom annual CAGR** Source: *Hikmet Ersek, as quoted by Reuters in Nigeria. June 18, 2013 ** Xoom S-1 Filing. January 11, 2013 4 of 13
  5. 5. Online Customer Acquisition ● CPA for Xoom $50 per customer* ● Target specific demographic segments ● Translate your brand online Source: *Xoom S-1 5 of 13
  6. 6. Challenges to Operate Online ● Protect from hacking ● Payment fraud ● Technical complexity 6 of 13
  7. 7. Comprehensive Platform Security 7 of 13
  8. 8. Data Breaches Examples: ● Clean data fraud ● Friendly fraud 8 of 13
  9. 9. Payment Fraud The average stolen credit card accrues $1,600 in expenses and takes 28 days to be detected.* *Javelin 8th Annual Card Issuers' Safety Scorecard 9 of 13
  10. 10. Build vs. Outsource ● Cost - Benefit ● Industry specialized system ● Customer Insult vs. Conversion vs. Scalability 10 of 13
  11. 11. Outsourcing Advantages ● Different skillset ● Technology centric ● Maintain focus ● Less cost 11 of 13
  12. 12. Concluding Thoughts ● Gold Rush is on! ● Underserved corridors ● Expand your brand 12 of 13
  13. 13. Jonathan Cooper jdc@wirecash.com www.wirecash.com 13 of 13

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