Worldwide Mobile Money Modernisation & Monetisation 2017-2022
KEY QUESTION ANSWERED
Q1. MNO Resolve — Resolution to threats imposed by Banks—FinTechs—TechGiants on MNO Businesses? What are some Conventional, partly-Modern, and fully-Modern Gateways available to Operators for effective Monetisation —via Modernisation? Who so far have best handled this threat?
Q2. ‘Sandbox Model’ Not Yielding! How can Operators stay Relevant & Innovative amid “Sandbox Model Crackdown”? What Options do Operators have apart from the Sandbox Model (& Partnerships)? How can the Supply of Innovation be continued with far-shorter turnarounds opposite to Traditional Models? Outmanoeuvring & Validating Results of (your) Incubation Labs? Know when A ‘Sandbox Model’ will not Yield? Alternatives to Sandboxes.
Q3. FinTechs — Making a Dream Debut? How can New FinTechs gain sufficient exposure in the absence of any strong backing or brand behind them? How to Choose & Partner: Learning the Morals & Perils of Partnerships?
Q4. Banks, their Vulnerabilities — Best of the ‘Bank & Company’ Initiatives, Worldwide? Gaps in their Achievements? How can Payment Banks exploit “those" Gaps; Pound upon their leverage; and woo their customers?
Q5. World Economies Vs. China — What China hints at? How can Governments proliferate Investments w.r.t. Mobile Money Adoption, the way Chinese are doing? Decoding next Modern Frontiers China looks to dominate?
Q6. Leverage High-Tech “Sister” [Payment/ Commerce] Technologies? Establish as an Early Mover and make “most” of the Opportunity? Recalibrate your Infra —to front-ends for broader Business Scope & Prospect? Unlock Access to Adjacent Markets via enabling single/ multi window (pan-global) channels of innovation, best consumer experience, & (ofcourse) revenues? Learn how “Living Beings” will trade in 2022!
Q7. What is so difficult about ‘Monetising' Mobile Money —Or How easy it can be?
Q8. Breakthroughing the Chasm States — Stuck? Not Getting Enough Momentum? Looking for a Pump-up. . . a quick Makeover? Preparing to Revolutionise your Market Presence, Relevance?
Q9. Vendor Planning & Selection — Plan Portfolios? Learn to Deal with the most desirable Vendors of the most desired Modern Technologies? Get Capital/ Operational Cost Estimates? Get Recommendations?
Q10. MarketShare Bolstering, Investment Catalyses, & In-Direct Growth — Set-up Business Plans for the most Bullish [Future Promising] Mobile Payment, Commerce, & Retail Business Opportunities —for Indirect Growth? Navigate Niches & Adjacent Markets for Additional Influence & Revenues?
Q11. World Compliance Comprehension — Comply 100%? Inculcate “New Enablements” seamlessly while learning from others’ mistakes? Use Modern Techniques toward effectively meeting Standards and save on huge Indirect Costs (fines for not meeting compliance, fx)?
Q12. Options Available To Small Players — What are the Options available to Small Players [Tier-2/3; N.Operators/ Banks/ FinTechs]? How selective or adaptive can they be in the wake of this large fish monopoly business? What's the size of the pie —the market opportunity & interesting areas available to them for access? Any supporting cases?
Q13. Modern Mobile Money Devices — Roles devices are playing or can play? Who're making most of the 'mobile money revolution’ via devices? What are those devices?
Q14. Future of Wallets — Theories of Integration, Implementation, and Systemic Security Advancements? Comparison of the impact of Mobile Device-Centric, Bank-Centric and Merchant-Centric Wallet Models on Consumer Adoption? Security considerations and fraud risks for myriad of Wallet solutions? A Research panel discussion on whats going on, How circumstances seem to evolve ahead; Take of the Academia; with Recommendations (direct) from the Key Stakeholders involved?
Q15. MFS Modernisation — MFS-Basic to MFS-Modern Transition: Business Model Transformation, Implementation, & Promotion? Agent Network Dynamics, Incentivisation, & Optimisation: Tapping Agent Networks and Proximity more effectively?
Q16. HyperGrowth & Modern-MFS Innovation in Payments, Lending, & Insurance— Adapting Modern Ideas, Principles, and Frameworks around Regtech, Vertical-tech (proptech, lawtech, etc.), and Social Inclusion? Roadmaps beyond Payment Bank Licence? Using Parallel/ Perpendicular/ Skew Innovation Models for HyperGrowth?
Q 17. Short Term, Medium Term and Long Term Strategies that will help Operators ensure 20%-45% of their total Revenue via Mobile Money Businesses?
1. Modern Mobile Money Portfolio to MNOs will be more strategic. For next 5 years, the revenues are going to stay directly proportional to the level of modernity present or missing in offerings. Problem with modernisation, however, is that you can't modernise overnight. Operators (— in fact any player) who’ll act consistent to this cause will have much stronger presence felt among masses than incumbents.
2. If played well, modernisation can contribute near 85% to the total share of mobile money revenues. In general, mobile money can contribute (to total telco revenues) by upto 45% within next 5-7 years.
3. Opportunities are huge and limitless, and operators can grab these opportunities easily till the time only banks, MNOs, and FinTechs are in the game. Techs giants are eying this opportunity at a mass level and the findings of our survey in this regard are really alarming for MNOs. We conducted a survey of more than 42,000 people across 27 countries — to check people’s expectations from Payment, Commerce, Banking and other Financial systems. Overwhelmingly, more than 43% respondents would think moving to tech giants such as Facebook, Google, Amazon, and Apple if they were to offer such services.
4. Diamond Bank (Nigeria) was able to grow its customer base by 50 percent (6 million) in two years, not by opening additional branches but through its modern payment, commerce, and banking solutions.
5. Products of The Future — A 'Stopwatch Type — Always On Interface' for users looking to get in just one touch all they “saved, spent, have available for spend, etc.”
6. Products of The Future — Customers in a supermarket will be able to scan a QR code and know that very item’s full history from source to shelf.
7. Customer’s willingness is the primary deterrent to modern payments adoption. Surveys suggest, “the issue is less the mobile wallet itself and more that people remain loyal to traditional payments showing little enthusiasm for picking up new habits.”
8. Attracting Millennials from the Backdoor: Reward points for past purchase/ bills can provide throttle to millennial adoption.
9. The Global P2P Payments Market is projected to generate transaction value worth US$250 billion by 2022 increasing from US$60+ billion in 2016. The transaction value of P2P payments is projected to grow at a CAGR of 42% during 2017-2022.
10. Future Commerce — The screen size is a big deterrent to mass scale adoptions. For, many for obvious reasons immediately spun off as soon as it comes to making payments using mobile interfaces. To solve that, Schulman said, PayPal used risk algorithms to create One Touch, a feature that makes it easier to pay on your phone or online without having to constantly punch in your log-in information. Schulman said the feature has improved the conversion rate to 87 percent -- "two times the nearest competitor.”
11. Future Retail — Reverse engineering retail for the post-channel world. The technology needs to get out of the way when the customer wants to buy. Part of the response could be tokenisation, originally conceived for customer privacy protection but with a spin-off benefit of acting like a nonintrusive customer ‘cookie’ within the sales process. Tokenisation lets customers roam from <point of sale -to- m-commerce; to e-commerce and back again> often in the same purchase.