MY IDEAL CLOUD WALLETby Natt Phenjati | May 2014

WHERE ARE WE TODAY?

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has over 10 million subscribers and 2.5 activer users per month in South Korea.The service become popular because of its feature that allows use to keep multiple loyalty cards in one place.

Source: http://www.gsma.com/digitalcommerce/wp-content/uploads/2013/10/SK-planet-wallet-case-study-LR.pdf

SK SMART WALLET

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M-PESA

M-PESA, Kenya mobile money transfer and microfinancing service, had 9 million users with $320 million transaction per month in 2009. Now, it has expanded to multiple countries, such as Afghanistan and India, and is expanding to Eastern Europe.Source: http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/AFRICAEXT/0,,contentMDK:22551641~pagePK:146736~piPK:146830~theSitePK:258644,00.html

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APPLEis entering the field of mobile payment. Tim Cook says:“We have almost 800 million iTunes accounts and the majority of those have credit cards behind them. We already have people using Touch ID to buy things across our store, so it’s an area of interest to us.”Source: http://www.cnbc.com/id/101642069

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recently rebranded with new logo, mobile-first website, updated wallet feature. Carey Kolaja, VP of Paypal, said “We don’t just want to keep up. We want to lead.”

Source: http://techcrunch.com/2014/05/15/paypal-updates-its-account-pages-to-look-more-mobile-less-old-school/

PAYPAL

71,000+ STARTUPS

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SQUAREreplaced its unsuccessful Wallet app with Square Order app that focuses on ordering and paying food ahead of time to allow customers to skip lines.

Source: http://gigaom.com/2014/05/12/square-retools-consumer-mobile-payments-replacing-wallet-with-a-new-app-called-order/

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is a mobile banking that helps customers save money through goal setting and learn more from that their spending. Recently, it was bought by BBVA for $117M.

Source: http://techcrunch.com/2014/02/20/simple-acquired-for-117m-will-continue-to-operate-separately-under-its-own-brand/

SIMPLE

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allows people to transfer money to friends and posts updates for other friends to see (free for debit card). Venmo gets popular among college students. Venmo is owned by Braintree, a subsidiary of eBay.

Source: http://www.usatoday.com/story/tech/columnist/talkingtech/2014/05/03/mobile-apps-replace-cash-on-campus/8576347/

VENMO

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OTHER INTERESTING STARTUPS

http://www.movenbank.com https://onlycoin.comhttps://www.kickstarter.com/

projects/1404403369/geode-from-icache

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All the big banks and mobile service providers in Thailand are trying to get their hands into the field of mobile payment.

PLAYERS IN THAILAND

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OTHER PLAYERS IN MOBILE PAYMENT

WHAT CAN WE LEARN?

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THE IDEAL CLOUD WALLET HAS TO FIT ITS CULTURAL CONTEXT

LESSON 1

M-PESA VENMO

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ONLY SOLVING PAYMENT FRICTION IS NOT ENOUGH TO CHANGE BEHAVIOR

LESSON 2

SQUARE ORDER UBER

17LESSON 3

SK-WALLET GOOGLE WALLET

THE IDEAL CLOUD WALLET NEED TO BE TRUSTED AND UNIVERSALLY ACCEPTED

DOES THAILAND READY FOR AN IDEAL CLOUD WALLET?

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NOT YET...Nowadays, it is not possible to survive in Bangkok for one day without using a physical wallet and its content. I need crash, MRT card, driver license, and etc. On the other hand, I barely need my credit card.

WHERE SHOULD WE START?

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START WITH NICHE MARKET

Merchant

GamerYoung generation

Need to buy stuffs onlineNo credit card

ShopperCarry multiple cards

Price concernShop online and offine

HousewifeManage house spendingHas to stay home a lot

Take care of bill payments

www.nattphenjati.com