Nokia Money
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Nokia is launching a mobile payment and remittance service called Nokia Money in early 2010. It will use Obopay's technology and compete with similar services from mobile operators. To succeed, Nokia Money will need to: Register as a bank or partner with a bank to ensure trust and avoid regulatory issues. Build an extensive network of money agents for widespread reach and accessibility. Keep costs low by having as few partners as possible in its value chain.
Nokia Money
- 1. NOKIA MONEY Sachin Gaur, Seminar on Network Economics
- 2. Introduction Creating money is easy. The hard part is getting it accepted. Economist Hyam Minsky ,1986
- 3. Salient points Nokia Money will be launched with Obopay providing the technology in early 2010. Nokia will have to compete with Mobile operators (Mpesa, Vodafone), conflict of interest Distribution channel: recruitment of money agents and widespread access to them Service is positioned both as payment and remittance service.
- 4. Literature survey Based on H. Bouwman book,Mobile services innovation and business models Four important values も Cost, Reach, Security and Ease of Use. Crucial factors も Involvement of a bank Providing trust and reach も Use of low-tech solutions Keeping costs low and ease of use
- 6. Deconstruct
- 7. Triggers
- 8. System Dynamics Model: Complex
- 9. System Dynamics Model: Simple
- 10. System Dynamics Model: Simple
- 11. System Dynamics Model: Simple
- 12. System Dynamics Model: Simple
- 13. System Dynamics Model: Simple
- 14. Summary Nokia to register as a bank or tie-up with bank も Toensure less interference of local govt and enable trust Reachability も Building of Money agent network is crucial Trust も Same as point 1. Cost も Having less partners in value chain
- 15. Summary Partnerships with banks and use of low technology solutions are important success factors for mobile remittance services.
- 16. Thanks