mobimax® charge card product demo confidential and proprietary to malcom
TRANSCRIPT
MobiMax® Charge Card
Product Demo
Confidential and Proprietary to MalCOM
About MalCOMA Malawian Company Registered under
Companies Act in 2012Seeks opportunities to provide ICT Based
Value Added Services in Malawi and Beyond
Promoted by Malawian Entrepreneurs Based in USA, India and Malawi
Authorized Users of of Trademark MobiMax
Background and ObjectiveObtained Endorsement of Concept and Approval to
Develop Charge Card Product from RBM June 2014Authorized by RBM February 2015Since Invested in Software and InfrastructureEngaged Key Stakeholders
Bankers Association (National Switch)Mobile Telco Companies (Agreements Concluded)EmployersRetailers and Service ProvidersPotential Investors
Presentation Objective To Enlighten and Sign on Potential Users (Retailers, Service
Providers and Employers)
The Reality November 2014
Reserve Bank advert on spending hugely on replacement of abused currency (fishmongers, bridal showers, weddings, ironmongers, etc)
January 2015 Loan Houses adverts on school fees, etc loans for civil servants…..huge
repayment interest guaranteed by employer. Loans restricted to one product Man stabbed to near death at Victoria Avenue after visiting ATM Bank advertise apology to clients for failing to transact on Visa, ATM and
electronic transactions Executive fails to pay for shopping bill in a major retail outlet due to visa,
ATM downtime and banks closed. Employee fails to get medical attention at major private hospital due to
failure to pay for shortfalls on medical aid scheme (no cash in pocket, bank account and ATM not present)
Banks increase service charges to access own money
February 2015 Synod asks for bailout from President! KATAPILA still remains a fact of life in Malawi! www.treasuryinsider.com “If we’re looking for the future of financial
innovation, countries like Malawi may be an unexpected source of inspiration”.
The MobiMax Charge Card A card that provides a payment method enabling the cardholder to
make purchases which are paid for by the card issuer (MalCOM), to whom the cardholder becomes indebted. The cardholder is obligated to repay the debt to the card issuer in full by
the due date (month end) No Interest Charges are levied on Cardholder Only transparent Transaction Fees Applied
CARD IS NOT Debit Card Credit Card E-Wallet
Does not Interface with Cardholder Bank Account Provides a Platform for Cashless Financial Transactions A convergence of ICT’s (DB, Card, Security, Cloud Computing,
SDK’s) Unique solution globally
Charge Card Types Corporate Card
Manage Corporate Expenses Monthly Credit Limit Pay for what you spend Limit reset to original value after statement Requires Agreement with Employer
Individual Card Manage Individual Expenses Monthly Credit Limit Pay Fixed amount or What you Spend Limit reset to original value after statement or Credit Rollover Requires Application Endorsed by Employer Value Added Services
Funeral Insurance Policy Subscription (MK 500,000) GOTV Subscription Short Term Advances Management (Up to Expiry Date of Card)
Medical Card Manage Corporate Medical Schemes Annual Credit Limit Pay for what you spend Requires Agreement with Employer
Service ChargesCard Issue (New or Replacement)
MK 2,000.00
Swipe FeeMK 250.00 per swipe
Transaction Charge3% of value of transaction
Funeral InsurancePremium MK 450Collection Charge MK 90.00
Free ServicesSMSBalance Enquiry
Potential Market Local Purchase Order(LPO) Administration Lay-Byes Stop Orders (Medical Aid, Insurance, Mortgages, etc) Katapila Victims Corporate Travel/Hospitality Expenses Advances Management TV Subscriptions Utility Payments Religious Tithes Government Subsidy Programmes Fuel Personal Expenses Medical Aid Claims Management ….etc
Key BenefitsCardholders
SecurityConvenienceDignity and ClassEscape from Katapila Cash Management
EmployersAdvances ManagementStop Order ManagementCaring Employer Perception
Key Benefits (Cont’d)Retailers and Service Providers
SecurityDecreased Cash PilferageIncreased SalesLoyalty ProgramsVisibility on MalCOM Website
The EconomyIncreased Consumer SpendingReduced Currency Management ExpensesCashless Transactions
Potential FootprintRetailers/Service Providers Employers/Representatives
Hotels Civil Service
Transport Credit Unions
Service Stations Malawi Defence Force
Retail Chain Stores Malawi Police Service
Private Hospitals Sugar Industry
Utility Services Medical Insurers
TV Service Providers MCTU
Private and Public Sector Players
Technology and Tools Cloud Computing Web Access Data Centre and Mirroring Servers
Web Email SMS Database
Email and SMS Communications GPRS Communications Data Encryption Anti Hacking Firewall and Anti Virus EMV Compliant POS Devices (48 hr Standby Batteries)
Dual SIM Cards Card Activation Transactions Card Balances Daily Reports Non-Cloneable
Proximity Cards
Relational Diagram
Retailer/Service Provider Agreement Key Features
Hosting of POS DevicesTechnical Support and TrainingDevice MaintenanceStationery ProvisionUser AccessRetailer Deposits (Redeemed on Termination)Deposit Top UpPayment to Retailer DatePayment Format (EFT)Email/SMS Alerts on Deposits and PaymentsManagement Reports (POS and Web)
Employer/ee Agreement Key Features
Employee Applications Commits both employee and employer to pay for services on an
agreed dateEmployee Credit LimitsStatement DatesPayment DatePayment From PayrollPayment Format (EFT)Pre/Post PaymentCard Distribution Format (Courier)Management ReportsCard LifeSMS Messaging - Passwords, Transactions
Customer CareHotline, 24/7 Engineering SupportSLA’s (Retailers and Employers)Web SupportEnd User TrainingIEC MaterialsTransparent Charges (Appear on POS slip)Balance enquiry at POSPOS messages for Inadequate Credit, Inactive/Blocked
Cards or EmployerTransactions Confirmed by SMS to Cardholder
Customer Protection Data
Data Encryption Firewalls (State of the Art) Data Mirroring Bomb, Fireproof Data Centre Data Encryption Dual SIM GPRS POS Device
Card Holders Password Protected Transactions SMS Delivery of Passwords Card Blocking Facility Blocked Cards Cannot be Reactivated EMV Compliant POS Devices and Cards Proximity Charge Card Not Cloneable
Retailers and Service Providers Cash Surety/Deposits Reserve Fund Cashier Password Access Audit Trails
MobiMax DemoRetailer RecruitmentCardholder RecruitmentTransactions – POSAlerts and Key Reports
ContactsMajete Road, Namiwawa
P.O. Box 1889Blantyre
Email: [email protected]: 0888439394/0997759275Website: www.malcomw.com
Q and A