Transcript A New Era of Money! Remittances & Financial Inclusion Bill Barhydt m-Via The potential of money to improve the quality of people’s lives increases exponentially.

A New Era of Money!
Remittances & Financial Inclusion
Bill Barhydt
m-Via
The potential of money to improve the
quality of people’s lives increases
exponentially with the number of people
with access to that money.
The Silk Road (114 BC)
A New Era of Money
Reed’s Law (2001 AD)
Value created by a Network = 2N – N – 1
From Silk to Silicon
”The adoption of the mobile phone
is the most important development
in human history."
Mohamed Yunus
Nobel Prize Winner, Founder Grameen Bank
"The mobile phone is the single
most transformative technology for
human development."
Jeffrey Sachs, Columbia University
economist and emerging markets expert
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Population
Annual Income
More than $20,000
100 Million People
(1.6% of World Population)
$1,500 - $20,000
1.9 Billion People
(32% of World Population)
19x
Less than $1,500
MFS
Sweet
Spot
4 Billion People
(66% World Population)
40x
“The Fortune at the Bottom of the Pyramid”
by C.K. Prahalad and Stuart L. Hart, HBR September 2002
M-Pesa means
“Mobile Money” in Swahili
9 Million participants
40% of adult population
17,000 Agents
10% of GDP flows MONTHLY
Fees are 8% of Safaricom revenues
19% of airtime purchases through M-Pesa
Virality designed into system
Requires government ID for registration
Registration done at any Safaricom agent
Free registration (includes new SIM)
No minimum balance required
Deposits are free
Withdrawals cost between $.30-$.40
P2P transfers $.40
Philippines
Globe & Smart – Dominant Carriers
76 Million Phone Accounts
33 Million Bank Accounts
No Mobile Money interoperability!
GCASH – 18,000 Agents
Philippines – 8,900 ATM machines
$300M per month in transaction volume
Largest music business in country is MMS
US $29 Billion per Year
Two Different Approaches in 1 Market
What about closer to home?
Bansefi provides bank services for poor
Largest issuer of debit cards in Mexico
Government social payments
Runs Directo a Mexico for remittances
Instrumental in new correspondent
banking regulation creates tens of
thousands of rural banking locales
Correspondent bank to hundreds of
regional “micro-banks”
Red de la Gente (People’s Network)
US to Mexico -> world’s largest
money transfer corridor
Goal is to leverage remittances as a
source of new bank accounts
Model has been highly successful with
millions of new accounts opened
Over 9 Million Mexican Migrants in CA
M-Via Mobile Money Network
 Pay bills, top up phones and send money
 Cross border money transfer via SMS
 Wallet account is a prepaid card with NO plastic
 New accounts are real-time upon first send/receive
 Works via SMS, IVR, WWW, Live Operator
 Convenient and safe cash in/out
 POS and ATM cash-out (no card)
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m-Via Mobile Money Service
1. Sign up for m-Via via 888-880-MVIA
2. Load cash into wallet at any m-Via Retail Agent
m-Via Mobile Wallet
We Address the Cash Consumer
Functions like a prepaid card
No Plastic Required = $0 cost
Money Transfer, Bill Pay, Top-up
10,000’s of agents
Cash load/withdrawal at retail
SMS & IVR interface
24x7
Access
3. Transfer or Pay via ANY phone
4. Withdraw cash at any m-Via Retail Agent
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M-Via Mobile Money Network
How it works…
Safe, Fast, Easy & Affordable
Send $ from US or
MX via m-Wallet
Make purchases
Or send money
to any other wallet
Get money at a
local ATM
NO CARD required!
Receive $ in US or
MX via Mobile Wallet
Get money at
m-Via agent
NO CARD required!
Load cash
at m-Via Agent
Pay a bill or
top up a phone
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Any bank can m-Via enable existing or new accounts
M-Via enabled accounts can remit to ANY mobile #
Support infinite number of bank processors
m-Via Launch Partners
Bank/Payments Partners
US Retail Agents
LatAm Retail Agents
M-Via plans to give away up to 100,000
phones in the next 12 months for one
year subscribers
Phone recipient to be chosen by new
m-Via subscribers in the USA.
M-Via package now includes:
M-Via Account for sender and
recipient
Mobile Phone
Optional Mobile Bansefi account
Optional 2nd phone at < $50
US Launch Plans
California
Texas
New York
New Jersey
Illinois
Arizona
Nevada
Georgia
Florida
International Launch Plans
Mexico
Guatemala
Ecuador
Honduras
Dominican Republic
Haiti
Philippines
India
Partnering with m-Via
US Retail partners
International MFI’s
Regional Banks
Regional Carriers/Wallet Operators
The potential of money to improve the
quality of people’s lives increases
exponentially with the number of people
with access to that money.
Thank You…
[email protected]
Twitter: @billbarhydt