1. By Anirban Kar +91 9642950999 www.anirbankar.com
Mobile-Wallet By
Anirban Kar

2. Contents What is Mobile-Wallet? Advantages and Disadvantages
Stakeholder’s AXIS
Operating Schema
Roll Out Strategy
Security
Risk and Risk Mitigation Strategy
Success Factors
Conclusion
Value Addition by Anirban Kar

3. What is Mobile-Wallet?
A concept of using hand held devices for electronic transactions for payment reception and delivery
A new device or a mobile can be used for transactions
Even if stolen, the electronic money is secured, as there is a tough 3 level security mechanism
Uses E-Money or Electronic-Money for transactions

4. Advantages Removes felling of trees Faster Transactions
Secured Transactions
Greater Efficiency
Saves Time
Cash is not used
Free all over a geography, that can be decided by the extent of the bank
Greater circulation avoids inflation
A newer responsibility for telecom operators and banks

5. Disadvantages Requires a stronger secured mechanism
No rotating credit facility
Rendering plastic money obsolete in the longer run
Rendering a cash less transaction

6. Secondary Stakeholders
Stakeholder’s AXIS
Governing
Bodies
Business
Entities
Secondary Stakeholders
Prime Stakeholder
User of the
Device
Second Party
Telecom Operators
Banks
First Party
Third Party
Payment Gateway
RBI
TRAI

7. Operating Schema- Interdependency
Master or the Owner
Slave or the Device

8. Operating Schema – 3 levels of security
Slave
Biometric Software
Finance Gateway
Embedded
Security
Management
Systems
Master
Network

9. Operating Schema – Towards Utilities
Retail Store
Master Schema
Visa/ Mastercard
Bank 1
Telecom Operator
Finance Gateway
Secured Path
Visa/ MasterCard
Secured Path
Utility
Store
Visa/
Mastercard
Bank 2

10. Operating Schema – From User to User
Master/Owner
User-2-User
Visa/ Mastercard
Bank 1
Telecom Operator
Finance Gateway
Secured Path
Visa/ MasterCard
Secured Path
Master/ Owner

11. Operating Schema – From User to Bank
User-2-bank-2-User
Bank 1
Telecom Operator
Finance Gateway
Secured Path
Visa/ MasterCard
Secured Path
Master/ Owner

12. Roll Out Strategy A requirement of 4-6 months to develop the products
An initial trial period of 3 months after the complete development of the product as a mock test
Test running of the cases of all types
Phasing out in 4-6 geographical places with high teledensity
Allowing professional hackers to be a part of the place by allowing tests to hack the secured mechanism as a competition
Concept of the product to be launched before the actual product
An incubation period of 3-6 months for aggressive product marketing

13. Roll Out Schema SMS or MMS after prior selection
Key-Words towards SMS for gateways
Unique number towards a Short Code
PIN at different levels
Running Password for a level/(s)

14. Risks Hacking at several node points Non-Acceptance of the product
Susceptible to no change
High Cost of Device as a conception
Not all will be given the Product
High-End Product Application
TRAI Rules
RBI Guidelines on the cap of transactions
Initial Cost for Development

15. Risk Mitigation Can use professional hackers
Needs aggressive marketing
Need to understand the product

16. Success Factors Words of the masses A Pilot Project can be used
New methods and methodologies to be devised in the pilot project
Requires time and patience

17. Conclusions The vision of the future
The Process of cash less transactions
Speeds up the process of instant payments
Greater Efficiency
Secured Connection
Advanced Features

18. Value Addition By Anirban Kar
I can work towards building a successful prototype of M-Wallet and help in designing the interfaces.