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Mobile payments pdf seamless philippines sept 2017

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The TECS #tecsthenewleaders are rapidly emerging as the new leaders. The paths they follow differ widely in various Asian markets, due to local conditions and regulations. However, the common theme is that the TECS, rather than traditional banks, will be the dominant players in Asian personal financial services and emerging markets.

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Mobile payments pdf seamless philippines sept 2017

  1. 1. MOBILE PAYMENTS – THE ‘TECS’ LED DISRUPTION OF PERSONAL FINANCIAL SERVICES. Seamless Philippines September 28, 2017 Sandeep Deobhakta Retail Banking Head VP Bank sandeepd@alum.mit.edu @sandeepdeobhakt #TECSTHENEWLEADERS https://www.linkedin.com/in/sandeep-deobhakta-914b3a1/?ppe=1 NOTE: This presentation reflects my personal views and observations only. These views are not expressed on behalf of my current or previous employers.
  2. 2. THANKS TO 1. CONNY DORRESTIJN SHIRAZ PARTNERS FINTECH | NEWTECH BUSINESS DEVELOPMENT 2. GUNNEET SINGH BALLY VP BANK 3. HEEJUNG KIM BENEPAY ASIA 3. MASTERCARD, VIETNAM 4. VISA, VIETNAM
  3. 3. QUESTION WHICH CONTINENT / COUNTRY LEADS IN THE MOBILE PAYMENTS SPACE?
  4. 4. OF THE TOP 20 COUNTRIES IN THE WORLD FOR MOBILE MONEY USAGE, 15 ARE IN AFRICA. ACCORDING TO A SURVEY CONDUCTED BY THE GATES FOUNDATION, THE WORLD BANK AND GALLUP WORLD POLL.
  5. 5. QUESTION WHO ARE THE DOMINANT FINANCIAL SERVICES PLAYERS IN ASIA?
  6. 6. WHO HAS THE LARGEST USERS?
  7. 7. WHO HAS THE DATA?
  8. 8. THE ‘TECS’ ARE RAPIDLY TRANSFORMING PERSONAL FINANCIAL SERVICES!
  9. 9. ‘TECS’ The rapid growth of mobile usage, social networks and e-commerce platforms has transformed the way people communicate and transact around the world. T - Telco /mobile operators EC - E-commerce platforms S - Social
  10. 10. THE ‘TECS’ HAVE THE DATA, THE OIL OF THE DIGITAL ERA
  11. 11. THE ‘TECS’ COMPANIES’ CONTROL OF DATA GIVES THEM ENORMOUS POWER. Think of all the data that your bank and insurance company sends you via SMS? Source: https://www.economist.com/news/leaders/21721656-data-economy-demands-new-approach-antitrust-rules-worlds-most-valuable-resource
  12. 12. THE ‘TECS’ ARE INVESTING IN ASIA Alibaba • Alibaba is the largest investor in Lazada • Ant Financial has invested USD 1.2 Billion in MoneyGram • Kakao Pay in Korea • Ascend Money in Thailand • Mynt in the Philippines • Emtek in Indonesia • M-Daq is Singapore • Compare Asia, online insurance Tencent • Sanook and Ookabee in Thailand • Gojek in Indonesia • Hike in India • Invested in VNG, the owner of ZALO messaging in Vietnam ‘TECS’ in India – payment banks • Alibaba is the biggest investor in PayTM, the biggest e-wallet with over 200 Million users • India has issued 11 payment bank licenses. The major mobile operators now have payment bank licenses.
  13. 13. ALIBABA, ANT FINANCIAL, TENCENT AND OTHER ‘TECS’ ARE ALREADY THE DOMINANT PLAYERS IN ASIA. THE ‘TECS’ ARE TRANSFORMING & DISRUPTING THE FINANCIAL SERVICES INDUSTRY.
  14. 14. A RAPID OVERVIEW OF 4 ‘TECS’ LED MOBILE PAYMENT MARKETS - KENYA, CHINA, INDIA & KOREA Integrating digital payments into these growing networks and platforms has presented vast opportunities to drive economic opportunity, financial inclusion, transparency, security, and growth.
  15. 15. KENYA – TELCO/ MOBILE OPERATOR LED M-Pesa (M for mobile, pesa is Swahili for money) is a mobile phone-based money transfer, financing and microfinancing service, launched in 2007 by Vodafone for Safaricom and Vodacom, the largest mobile network operators in Kenya and Tanzania.
  16. 16. MOBILE MONEY USAGE IN AFRICA
  17. 17. MOBILE MONEY IS UBIQUITOUS IN KENYA
  18. 18. 130,000 M-PESA AGENTS AND 50,000 ACTIVE MERCHANTS MAKE IT VERY EASY TO CASH IN, CASH OUT AND TRANSACT.
  19. 19. MPESA VIDEO https://www.youtube.com/watch?v=uygbfBWYMiE
  20. 20. CHINA – THE TALE OF TWO ‘TECS’ GIANTS Two of China’s most far-reaching applications – WeChat and Alipay – their role is central to the development of one of the world’s largest and most sophisticated digital payments ecosystems. Source: Social Networks, e-Commerce Platforms, and the Growth of Digital Payment Ecosystems in China: What It Means for Other Countries. Better than Cash Alliance. April 2017. Authors: Zennon Kapron & Michelle Meertens
  21. 21. EVOLUTION – ALIPAY AND WE CHAT Alipay has 520 million monthly active users, who each spent US$2,921 on average in 2015. By comparison, WeChat has > 900 million monthly active users who spent $1526 [in 2016] on average. Source: Social Networks, e-Commerce Platforms, and the Growth of Digital Payment Ecosystems in China: What It Means for Other Countries. Better than Cash Alliance. April 2017. Authors: Zennon Kapron & Michelle Meertens
  22. 22. THE RAPID GROWTH IN MOBILE PAYMENTS IS CHANGING BEHAVIOR AND THE FINANCIAL SERVICES LANDSCAPE Source: Social Networks, e-Commerce Platforms, and the Growth of Digital Payment Ecosystems in China: What It Means for Other Countries. Better than Cash Alliance. April 2017. Authors: Zennon Kapron & Michelle Meertens
  23. 23. MOBILE PAYMENTS ARE CHANGING LIVES - THROUGH ACCESS AND INCLUSION Kaiyu Ma runs a small store selling used clothing on Taobao. She says this is a great way to earn money as she looks after her young daughter. She is not alone. Digital payments help individuals and families improve their lives. Source: Social Networks, e-Commerce Platforms, and the Growth of Digital Payment Ecosystems in China: What It Means for Other Countries. Better than Cash Alliance. April 2017. Authors: Zennon Kapron & Michelle Meertens
  24. 24. Source: Social Networks, e- Commerce Platforms, and the Growth of Digital Payment Ecosystems in China: What It Means for Other Countries. Better than Cash Alliance. April 2017. Authors: Zennon Kapron & Michelle Meertens E-commerce platforms Data & transaction processing Payment system Banking, loans and wealth management Capabilities- Infrastructure, analytics and scoring
  25. 25. INDIA – AN INTEGRATED ECOSYSTEM The central bank [RBI] is playing a catalytical role by means of enabling policy framework, by allowing non banks in payments and promoting innovative payment technologies
  26. 26. THE KEY DRIVERS OF THE PAYMENTS ECOSYSTEM IN INDIA
  27. 27. Key enabler that allows any wallet to connect to any bank account Payment apps that leverage the biometric national ID New category of banks that enable wallets and Mobile operators
  28. 28. UPI IS A KEY ENABLER
  29. 29. DEMONETIZATION HAS DRIVEN THE GROWTH OF MOBILE PAYMENTS IN INDIA
  30. 30. THE LATEST ENTRANT Source: http://www.bbc.com/news/technology-41306312
  31. 31. VIETNAM – POTENTIAL AND OPPORTUNITY Vietnam is aiming to move towards a 90% cashless economy by 2020. To promote e-wallets, The State Bank of Vietnam has released circular 39, officially recognizing e-wallets as a payment service. Source: 1. Vietnam Briefing, july 12, 2017 and 2. FIS – Flavors of Fast. http://www.fisglobal.com/
  32. 32. KOREA – SOCIAL AND MESSAGING Kakao Bank, Korea's second online-only bank, celebrated a meteoric first month in business in August 2017. Source: http://english.chosun.com/site/data/html_dir/2017/08/30/2017083001480.html?related_all
  33. 33. Source: http://www.businesskorea.co.kr/english/news/money/18805-threatening-traditional-banks-kakao-bank-made-its-debut
  34. 34. The bank had 3.07 million accounts in August 2017 • 1.94 trillion won (US$1.73 billion) in deposits and savings and extending • 1.40 trillion won (US$1.25 billion) in loans, according to the bank. • More than 2.16 million debit cards have been issued. Source: http://www.huffingtonpost.com/entry/kakao-bank-creates-the-catfish-effect-in-local-banking_us_59a41cbbe4b0a62d0987b0c2
  35. 35. IT INTENSIFIED COMPETITION AMONG BANKS…
  36. 36. SO, WHAT ARE THE IMPLICATIONS?
  37. 37. FOR CUSTOMERS
  38. 38. FOR BANKS
  39. 39. BY 2018, DIGITAL DISRUPTION IN BANKING IS EXPECTED TO REACH ITS INFLECTION POINT Likely revenue disruption due to digital
  40. 40. Source: McKinsey, Retail_banking_in_Asia_Actionable_insights_for_new_opportunities
  41. 41. SOME EXAMPLES OF PARTNERSHIPS AND CUSTOMER INSIGHT DRIVEN PRODUCTS AT VP BANK

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