1. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored Moving Beyond Cash: How Innovation In e-payments Can Reach Under-served Markets June 14, 2016 Chidinma Lawanson Chief Executive Officer, EFInA

2. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 2 About EFInA  Financial sector development organisation promoting financial inclusion, funded by DFID of the UK Government and the Bill & Melinda Gates Foundation Vision “Leader in facilitating an all-inclusive and growth-promoting financial system” How We Work  Research  Innovation  Advocacy  Capacity building Pillars

3. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored Current & Future Use of Electronic Payments

4. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 4 Use of E-Payments in Nigeria is Low but Growing 4 * Only 6% of adults in Nigeria use electronic channels to effect payments Source: EFInA Access to Financial Services in Nigeria 2014 survey 5% use ATM/debit cards for payments 2% use bank transfers for payments <1% use prepaid cards, credit cards or mobile money for payments

5. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 5 Infrequent Utilisation of Debit cards 5 17 million adults have debit cards but do not use them to effect payments Most are making payments using cash Most live near multiple types of merchants Source: EFInA Access to Financial Services in Nigeria 2014 survey 74% pay bills using cash 96% pay for goods/services using cash Provision Shop 96% Percentage that are aware of and live within 15 minutes of the nearest: Pharmacy 79% Restaurant 78% Petrol Station 70%

6. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 6 Expanding usage of cards for payments 6 Sources: EFInA Mobile Money & E-payments Uptake & Usage study, 2013; EFInA Access to Financial Services in Nigeria 2014 survey  Poor customer service  System downtime  Security concerns  Awareness  Delays in receiving money  System downtime  Hidden fees  Build Pervasive Agent Networks Address Customer Challenges:Address Merchant Challenges: Male Employed full-time Between the ages of 26-35 In the South West or North Central zones Female Self-employed Youth (ages 18-25 for adults) In the South South or South East zones To expand use of cards among existing cardholders, target those who are: Active debit card users are more likely to be:

7. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 7 Mobile Money 7 Source: EFInA Access to Financial Services in Nigeria 2014 survey 26 million adults own a mobile phone and say that they could be encouraged to use mobile money Top factors that would encourage them to use mobile money:  Understanding how it works (81%)  When they feel it is safe (28%) They would consider using mobile money to pay for: Most are not aware of a ‘nearby’ mobile money agent However, most live near multiple types of potential agent/merchant locations School fees 74% Transport 55% Hospital bills 52% Airline tickets 42%

8. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 8 Potential Electronic Payments Customers 8 83 million adults make payments using cash only 62% own a mobile phone 55% are female 31% are aged 18-25 22% live in NW zone 40% speak Hausa fluently 51% read English comfortably 13% use the internet 69% are prepared to learn new technology

9. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 9 Challenge: How to extend the use of electronic payments to all Nigerians, such as the... 9 46m women who make payments using cash only 7m self-employed adults who have cards but do not use them for payments 9m young adults who own mobile phones and could be encouraged to use mobile money ReliabilityTrustUsabilityIncentives Target Customers ProductsTechnology Innovative approaches to thinking about: Keeping in mind the importance of:

10. "A4rb_standard_band_photo" – 20100111 – do not delete this text object! colored 10 THANK YOU 10