International Remittance And Mobile Banking

International Remittance and Mobile Banking NTU, Singapore 19 March 2009 Arief Hamdani Gunawan

Outline ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

The General Principles for International Remittance Services (CPSS/World Bank - General principles for remittances - January 2007) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Committee on Payment and Settlement Systems / The World Bank

The General Principles for International Remittance Services (CPSS/World Bank - General principles for remittances - January 2007) ,[object Object],[object Object],[object Object],[object Object],[object Object],Committee on Payment and Settlement Systems / The World Bank

The most and least costly "country corridors": (Country Corridors & Average cost in US$) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Cost includes the transaction fee and exchange rate margin. Only those corridors where all the necessary information was provided are featured. Corridor averages are unweighted and do not reflect the market shares of the different firms that compose the average.

Remitting from Singapore to Indonesia 12.00 Total Average 10.00 Post office Average 10.88 MTO Average 17.50 Bank Average Apr 08, 2008 Next day. However, money can only be sent to branches of Mandiri Bank 25.00 Bank Bank Mandiri Apr 08, 2008 1-2 working days 15.00 MTO GPL Remittance Apr 08, 2008 15 minutes 12.00 MTO Western Union Apr 08, 2008 1-5 days 10.00 MTO Brunphil Express Apr 08, 2008 Same day to branches of BNI in Indonesia; 5 days to all other banks 10.00 Bank BNI (Bank Negara Indonesia) Apr 08, 2008 1-3 working days 10.00 MTO One Stop Remittance Apr 08, 2008 Next day 10.00 Post office Singapore Post (Cashome) Apr 08, 2008 Next day 10.00 MTO BTI Money Transfer Apr 08, 2008 10 minutes 10.00 MTO Ameer Tech (MG) - cash Apr 08, 2008 10 minutes 10.00 MTO Ameer Tech (MG) - account Apr 08, 2008 Next day 10.00 MTO MoneyWorld Date Transfer speed Fee (SGD) Firm type Firm name

Mobile Money – Goes Beyond Banking High Complexity Low Complexity High Customer Value Low Customer Value Payments, Transfers and Transactions Account Management Investment Services Information Services ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],High Value to Unbank and Underbank

Priority Opportunities Payments, Transfers and Transactions Types Representative examples Remittances / Transfers M-Commerce / M-payments Point of Sales ,[object Object],[object Object],[object Object],Main Issues ,[object Object],[object Object],[object Object],Payment at Point of Sales by tapping a mobile device on a terminal • NFC (Near Field Communication)

Mobile Banking Subscriber Forecast 2007 – 2010 (Millions) 2007 2008 2009 2010 33.6 1.7 9.5 38.0 42.2 21.1 46.5 34.9 Mobile Internet Users Mobile Banking Users Source: Aite Group

Micropayment Market Survey 2007 - 2008 73% 86% 43% 34% 46% 37% Internet banking Mobile banking 2008 Internet payment 2007 Source: SHARING VISION TM , Micropayment Market Survey, 2007 - 2008

The Benefits of Mobile Banking ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Operators Banks Users

Mobile Commerce: Overview ,[object Object],[object Object],[object Object],[object Object]

Mobile commerce from the Customer‘s point of view ,[object Object],[object Object],[object Object]

Mobile commerce from the Provider‘s point of view ,[object Object],[object Object],[object Object]

m-Commerce Terminology ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Terminology and Standards ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Attributes of m-Commerce and Its Economic Advantages ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Computing Infrastructure ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Hardware

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Mobile Computing Infrastructure (cont.)

Mobile Computing Infrastructure (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Service Scenarios ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Early content and applications have all been geared around information delivery but as time moves on the accent will be on revenue generation. ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],m-Commerce

Mobile Application: Financial Tool ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Financial Tool: Wireless Electronic Payment Systems ,[object Object],[object Object],[object Object],[object Object],[object Object]

Examples ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Applications : Marketing, Advertising, and Customer Service ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Applications : Marketing, Advertising, And Customer Service ,[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Portals ,[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Intrabusiness and Enterprise Applications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile B2B and Supply Chain Applications ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Applications of Mobile Devices for Consumers/Industries ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Payment for m-Commerce ,[object Object],[object Object],[object Object],[object Object]

Mobile Payment (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Mobile Payment (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Smart Money/G-Cash ,[object Object],[object Object],[object Object],[object Object],[object Object]

[object Object],[object Object],[object Object],“Text A Payment”

Payment via Internet Payment Provider WAP GW/Proxy SSL tunnel Mobile e-Payment Server GSM Security SMS-C Browsing (negotiation) Mobile Wallet CC/Bank Dispatcher Grabber User Merchant

Payment via Integrated Payment Server WAP GW/Proxy ISO8583 Based CP Mobile Commerce Server GSM Security SMS-C Browsing (negotiation) CC/Bank Mobile Wallet Voice Pre-Paid VPP IF SSL tunnel User Merchant

Limitations of m-Commerce ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Limiting Technological Factors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Security in m-Commerce: Environment WAP1.2 (WIM) (SIM) Operator centric model CA Bank (FI) Merchant Shopping Content Aggregation Internet SAT GW WAP GW Mobile Network Mobile Bank WAP1.1 (+SIM where avail.) Security and Payment Mobile e-Commerce Server Mobile IP Service ProviderNetwork

WAP Architecture Web Server Content CGI Scripts etc. WML Decks with WML-Script WAP Gateway WML Encoder WMLScript Compiler Protocol Adapters Client WML WML-Script WTAI Etc. HTTP WSP/WTP

Comparison between Internet and WAP Technologies HTML JavaScript HTTP TLS - SSL TCP/IP UDP/IP Wireless Application Protocol Wireless Application Environment (WAE) Session Layer (WSP) Security Layer (WTLS) Transport Layer (WDP) Other Services and Applications Transaction Layer (WTP) SMS USSD CSD IS-136 CDMA CDPD PDC-P Etc.. Bearers:

WAP Risks ,[object Object],[object Object],[object Object],[object Object],[object Object]

Platform Risks ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

WMLScript ,[object Object],[object Object],[object Object],[object Object]

WMLScript (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Risks of WML Script ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Bluetooth ,[object Object],[object Object],[object Object],[object Object]

Bluetooth Security ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Security Risks in m-Commerce ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Security Risks (cont.) ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Privacy Risks ,[object Object],[object Object],[object Object],[object Object]

Questions ,[object Object],[object Object],[object Object]

International Remittance And Mobile Banking

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International Remittance And Mobile Banking