AFRI-SOLUTIONS LIMITED
P.O BOX 419,DAR ES SALAAM,TANZANIA.
Mob: +255784779205,+255655779205, Fax: 073660081
Email: george@afrisolutions.net, gmarealle@hotmail.com
MOBILE MONEY PROPOSAL
• “Cash in. Simplified”
v-Money @2014
Introduction
Afri-Solution Limited
Founded in early 2014, Afri-Solutions strive in creating solutions for IT and Legal
Informatics problems for Tanzania and contextual Africa. At the moment Afri-Solutions
plans to bring a new product in the telecom and bank industry on mobile money
services, our product known as v-Money(voucher money).
v-Money aims to enable easy availability of e-money to mobile money clients through scratch
card vouchers .these scratch card vouchers resembles airtime scratch vouchers but instead our vouchers
shall top up e-money instead topping up airtime.
Our Scratch card vouchers once scrap off the hidden part client gets unique pin numbers, these unique pin
numbers will enable a deposit of e-money in clients mobile money accounts( Mpesa account holders,Airtel
money account holders,Tigopesa account holders etc).
v-Money @2014
What is v-Money?
• An innovative scratch-card solution enabling a unique pin
numbers to cash in/deposit e-money in mobile bank account
holder using USSD/SMS-enabled phones.
• A simple, fast and secure inter-network system for enhancing
cash deposits to mobile wallet accounts and bank accounts.
• A convenient and safe solution for the banked and unbanked
community that facilitates faster economic growth.
v-Money @2014
Why v-Money Product
•
Easy availability of e-money to mobile money agent .
About 80% of African populations do not have bank accounts, bank notes & coin are commonly used
The demand of e-money deposit from mobile money clients is high compare the supply, there are few mobile money agent
who make e-money top up /deposits to mobile money clients.
Mobile money Agents waste lot of time travel to banks and stay in bank queue in order to deposit/top up e-money in their
float account so that they can top up e-money to mobile money clients,
Through existing supply chain, airtime voucher distributors can be our agent, easily distributing and sale v-Money vouchers
to mobile money clients both in rural & urban area. Distributors will prefer selling our voucher since money deposited
through our vouchers is not limited only to airtime usage, deposited money can pay for various bills such as electricity,buy
airtime, purchase various products, also deposited money can be transferred.
•
V-money vouchers facilitates deposits in remote areas where banks do not operate,banks are scattered and close
operations at 4pm,all these factors leads to lack enough e-money float in mobile money agent accounts therefore
fail to make e-money deposits when requested by mobile money account holders(Mpesa,airtel money holders
etc).
•
Fast and Affordable Service: Due to Easy distribution and lower operational costs due to existence of supply chain,
mobile money holders can top up/cash in e-money float without wasting time in queues, top up can be done after banking ours, no
need travel expenses to banks due to availability of distributors.
•
Safe and affordable: Stolen voucher batch can easily be traced and blocked since each purchased batch shall be registered in our
system.
24 hours Transactions: Top up/cash in can be done any time therefore v-Money vouchers can be sold in places closing late such as
hotels, bars, night clubs etc
Scalable, once v-Money project developed can be implemented globally
Single and manageable disbursement account minimizing fraud risks
Quick return on investment, this is due to high volume of sales in a short period of time
No extensive KYC(know your customer) processes
Uses standard SMS/USSD based deposits therefore any type mobile phone can access for a service
•
•
•
•
•
•
v-Money @2014
V-Money Platform
ACTORS
 Mobile Operators – they hold pool of customer accounts and disbursement
account
 V-Money Admin (Afri-solutions ltd) – Generate, manage and issue batches of
encrypted unique PIN codes for printing and provide primary customer support,
enforce commission structures and policies, activate/deactivate cards, manage
banks and operators, generate reports, configure the v-Money Platform etc.
 V-Money Money Users:
are the Mobile Money Clients(airtel money,Mpesa clients Tigopesa etc) who
purchase v-Money scratch card vouchers in order to top up/deposit e-money in
their bank accounts,deposited money can pay for various bills such as
electricity(LUKU) ,airtime etc also the money can be transferred to someone else.
 V-Money Distributors/Retailers:
Airtime voucher distributors/super dealers can be distributors, Purchase physical
scratch card vouchers in bulk quantity(batches),sale and distribute vouchers to
mobile money clients.
 V-Money Card Companies – secure scratch card printers
v-Money @2014
V-MONEY
M-COMMERCE
OR
MOBILE MONEY
WALLET
Deposit to m-commerce
via scratch v-Money
scratch cards
v-Money
Deposit to banks via v-Money
scratch cards
BANKS
v-Money @2014
Money Transfer From Mobile wallet(Trust account) To Mobile money client
account through Scratch Card Vouchers (Cash in)
Mobile operators platform
receives cash deposited
request from v-money
platform, then amount held
in our trust account is
deducted/credited against
the requested amount and
transferred to a mobile
money client
V-Money Platform verify
voucher pin numbers
received from mobile
money client, after
verification cash
deposited request with
corresponding amount &
mobile number is sent to
mobile operators
platform.
v-Money @2014
Architecture
v-Money @2014
v-Money Components
• USSD application: This is interface to end-user
• Application manager: Processes requests
• Customer manager GUI: This is graphical user
interface for customer management, Voucher
management, user management, reports
• Interface server: This is integration server
which connects to m-commerce and bank
switch
v-Money @2014
Functions
• USSD application provides customer interface to send
transaction requests
• Application manager receives request and checks all
requirements and decides whether transaction is bank
or mobile money related.
• Application manager inserts records to v-Money
database and forward request to interface server ,
interface server forwards request to bank or mcommerce and waits for response.
• Response may be success or failure together with
appropriate message.
• Response message is sent back to user
v-Money @2014
How it works
play the slide please
STEP 8:
2:
3:
4:
5:
6:
7:
1: A
Purchase
Dial
Select
Enter
confirmation
detailed
v-Money
account
scratch
deposit
account
aconfirmation
v-Money
card
USSD
number
type
from
on PIN
success,
from
v-Money
scratch
for
message
v-Money
deposit
press
card
menu
OK
ismenu
received
to exit
Cash in. Simplified.
SCRATCH
HERE 98
6458
2257 2240
50,000 TShs
v-Money @2014
Single voucher can top up multiple different Mobile
Money Clients accounts (inter-network system)
v-Money @2014
BUSINESS MODEL
 Afri-solutions Ltd as the v-Money admin will act as a
super agent(main agent) in the system.
 Afri-solutions shall supply scratch card vouchers to
distributors, distributors shall sale these vouchers to mobile
money clients in order to cash in/deposit e-money in their
mobile money accounts.
v-Money @2014
DISTRIBUTION MODEL
Vouchers will be distributed via distributors
across the country
Distributors will be clustered across the
country
Each distributor will distribute v-money
cards/vouchers only in their zones/clusters
Distributors will sell v-money cards/vouchers
to mobile money agents.
v-Money @2014
Proposed Denominations and
Commission Distribution
PROPOSED VOUCHER
DENOMINATIONS VALUES
Values are in Tanzania shillings
estimated rate 1700usd
SUPER AGENT(AFRI-SULUTIONS
LIMITED)
PERCENTAGE ON IMPOSED
CHARGES
DISTRIBUTOR/RETAILER
PERCENTAGE ON IMPOSED
CHARGES
E.g. we charge 2% on deposits we
collect 30% of 2%
Distributors takes 70% of 2%
5,000
$3
30%
70%
20,000
$12
30%
70%
50,000
$30
30%
70%
100,000
$60
30%
70%
v-Money @2014
Anti-Money Laundry Compliance
 To purchase v-money card/voucher, customer have to present his/her ID at v-Money
retailer for kyc.
 Records of all deposits will be kept in database for tracking
 voucher serial numbers on shall be recorded once purchased
 Only full KYCED subscriber in m-commerce platform will be able to cash in.
 Cash in will only be possible via v-money platform only where all validations are done
 Further more fraud detection module in v-money application will check if deposits is
suspicious or not.
 Daily limit deposits will be set in anti-money laundry configuration according to
regulatory body guide
 Cards will be in inactive state until authorized v-money card/voucher distributor sends
activation request by sending batch number to v-Money revenue assurance team for
activation
 Revenue assurance will activate batch number after confirmation of deposit to
disbursement/trust account.
 Other controls will be as per BOT guide
 Customer have to agree with terms of use before using the service
 Service will be available via ussd, mobile app and online via browser
v-Money @2014
SYSTEM SECURITY









Connection between platforms will be done via secure socket layer
Firewalls with intrusion detection will be in place
HSM may be installed if necessary
Connection to m-commerce and banks will be done via private
lease
IP validation , username and passwords will be used.
V-Money cards/vouchers will use sealed pins for deposit
authorization
Pins will be generated within a platform and sent to card vendors
encrypted. Vendors will decrypt the file using decryption keys.
System will be hosted in three redundant sites to ensure 99.9 %
uptime and disaster recovery
Database data guards will be implemented to ensure load balancing
v-Money @2014
RISK MITIGATIONS
Stolen vouchers will be deactivate upon report
from distributors, after investigation refund may
be processed
V-money user may report damaged card before
deposits after verification of serial numbers by
using recorded details at retail point, then refund
may be processed
Only transaction commits after success response
from third part systems like banks and mcommerce
End user is excluded in any risk
v-Money @2014
Card Features-Security
v-Money @2014