Mobile-Wallet

1. Mobile-Wallet By Anirban Kar +91 9642950999 www.anirbankar.com

2. Contents • What is Mobile-Wallet? • Advantages and Disadvantages • Stakeholder’s AXIS • Operating Schema • Roll Out Strategy • Security • Risk and Risk Mitigation Strategy • Success Factors • Conclusion • Value Addition by Anirban Kar

3. What is Mobile-Wallet? • A concept of using hand held devices for electronic transactions for payment reception and delivery • A new device or a mobile can be used for transactions • Even if stolen, the electronic money is secured, as there is a tough 3 level security mechanism • Uses E-Money or Electronic-Money for transactions

4. Advantages • Removes felling of trees • Faster Transactions • Secured Transactions • Greater Efficiency • Saves Time • Cash is not used • Free all over a geography, that can be decided by the extent of the bank • Greater circulation avoids inflation • A newer responsibility for telecom operators and banks

5. Disadvantages • Requires a stronger secured mechanism • No rotating credit facility • Rendering plastic money obsolete in the longer run • Rendering a cash less transaction

6. Stakeholder’s AXIS RBI TRAI

7. Operating Schema- Interdependency

8. Operating Schema – 3 levels of security Master Network

9. Operating Schema – Towards Utilities Retail Store Master Schema Visa/ Mastercard Bank 1 Telecom Operator Finance Gateway Secured Path Visa/ MasterCard Secured Path Utility Store Visa/ Mastercard Bank 2

10. Operating Schema – From User to User Master/Owner User-2-User Visa/ Mastercard Bank 1 Telecom Operator Finance Gateway Secured Path Visa/ MasterCard Secured Path Master/ Owner

11. Operating Schema – From User to Bank User-2-bank-2-User Bank 1 Telecom Operator Finance Gateway Secured Path Visa/ MasterCard Secured Path Master/ Owner

12. Roll Out Strategy • A requirement of 4-6 months to develop the products • An initial trial period of 3 months after the complete development of the product as a mock test • Test running of the cases of all types • Phasing out in 4-6 geographical places with high teledensity • Allowing professional hackers to be a part of the place by allowing tests to hack the secured mechanism as a competition • Concept of the product to be launched before the actual product • An incubation period of 3-6 months for aggressive product marketing

13. Roll Out Schema • SMS or MMS after prior selection • Key-Words towards SMS for gateways • Unique number towards a Short Code • PIN at different levels • Running Password for a level/(s)

14. Risks • Hacking at several node points • Non-Acceptance of the product • Susceptible to no change • High Cost of Device as a conception • Not all will be given the Product • High-End Product Application • TRAI Rules • RBI Guidelines on the cap of transactions • Initial Cost for Development

15. Risk Mitigation • Can use professional hackers • Needs aggressive marketing • Need to understand the product

16. Success Factors • Words of the masses • A Pilot Project can be used • New methods and methodologies to be devised in the pilot project • Requires time and patience

17. Conclusions • The vision of the future • The Process of cash less transactions • Speeds up the process of instant payments • Greater Efficiency • Secured Connection • Advanced Features

18. Value Addition By Anirban Kar I can work towards building a successful prototype of M-Wallet and help in designing the interfaces.