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Scope of Mobile Wallet in India

Domains
India Summary
Population 1.2 Billion
Wireless Teledensity: 76% In India there are a total of 31 Crore or
Remittance % of GDP 3.5% 310 million savings bank accounts till
Percent Under Poverty Line 29.8% date. But given the number of multiple
Adult Literacy 61% accounts, the total number of
Main banks ICICI Bank, State Bank
of India, HFDC Bank Ltd, Union, individuals having bank accounts
Bank of India, Axis Bank, Punjab cannot be more than 20 Crore or 200
National Bank, Bank of Boroda, million. This means that 83% of the
Yes Bank, Bank of India population does not have access to
Number of Banks/Branches: 1843 bank accounts. On the brighter side,
Banks / 82439 Branches this shows the scope for Banks , Mobile
Mobile Network Operators Airtel, Wallet , Branchless Banking and
Vodafone, Reliance, Idea, TATA,
BSNL, Aircel, banking solutions in future.
What is Mobile Wallet
∗ Mobile wallets, like that of Paytm, FreeCharge have grown in
popular in India, where credit card adoption is low and many
services, including online retailers, process a lot of cash-based
transactions. (Its billion-plus population is estimated to have just
450 million bank accounts, with many unused.) Wallets are at the
intersection of that, providing greater reliability than cash, but
without requiring users to get bank accounts.
∗ Now that it allows users to transfer money into their bank account
(or that of a friend), Mobile wallet — which is supported by Uber,
among other services — becomes a more versatile way of managing
small cash floats.
Bouquets of services on Mobile Wallet

Phase-1 ( 6 Months)
∗ Mobile Lottery , Mobile lending ( Education Sector),Prepaid
Recharge-Satellite TV Recharge-Utility Bill Payment-Post paid Bill
Collection-Money Transfer-Movie Ticketing.
Phase-2 ( 3 Months)
∗ Train Ticketing- Air Ticketing- Bus Ticketing-e wallet on all
E-commerce portal- Transfer to Banks, Cash out from Wallet.
Phase-3 (3 Months)
Inward and outward Remittance through
∗ Money Gram
∗ Western Union
∗ Transfer Bee
Continued….
∗ Phase- 4
∗ Integration with POS terminals of major retail giants for loyalty
points on purchase of goods. ( loyalty points received from Big
Bazaar or Jet miles can be redeemed at adidas POS terminals or any
other retails point integrated with payment eco-system.
Eco-system required
∗ License for Mobile Wallet from RBI
∗ Integration with UPI/Master/Visa/Ru-Pay Debit Card
∗ Integration with Mobile/Web Payment gateway ( PayU).
∗ Dash Board Shared with all ecommerce domains.
∗ Integration with IN servers of all MNOs
∗ Integration with DTH service providers.
∗ Introduction of wallet for projects like MNREGA, CGHS,G2P
Payments, Mobile Money Order.
∗ Front-end – Web, Android-Windows-Apple Apps-SMS-IVR later to be
brought on USSD.
st
Projection 1 Year

∗ To hook close to 500,000 consumers by end of years 1 & this will


increase @ 200% every years
∗ Make about 60% customers to do transactions by promotions and
discount couponing.
∗ To make user do close to 5 transaction per month with ARPU close
to Rs. 1000.
∗ To take topline close to Rs. 300 Million per month.
∗ Approx earning from 300 M @ 4% 12 Million.