Transcript Mobile Payment Forum of India

A joint initiative by IDRBT, Hyderabad and
RTBI, IIT Madras
 India
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adds 100 million mobiles per year
225 million today
Marching to 500 million in next few years
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Will be omnipresent (including most rural areas)
Including significant unbanked population
 Payments:
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Mostly cash transaction, especially for lower
strata
Cards have not worked
Checks and Internet payments for corporates
Cards
Banks
Phone
Phone
SMS Based
Software Based
SIM Based
SMS Based
Software Based
SIM Based
Worldwide coverage
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100 million customers: 2 transaction per day per
customer
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Target transaction price
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zero cost to customers for up to Rs 500 per transaction
Rs 3 for transaction between Rs 500 and Rs 5000
0.25% transaction cost for over Rs 5000
Who gets what? Is it viable?
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Mobile phone operators
Banks and financial institutions
Technology / Service Providers
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Front-end technology, authentication
Back-end technology
 Technology
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PIN, Finger print in addition to phone
 Business
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and Security
Model and coverage
Can unbanked use this?
Can it replace significant cash transaction
 Regulations
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Role of RBI and TRAI
Single KYC for Telco and for Banks?
Outcomes of MPFI
 Recommendations
on Regulations
 White Papers on Business
 White Papers on Technology
 Opportunities for standards