M-Commerce Managed Service Offerings
Mobile Financial Services (M-Commerce) are recognized by the GSMA as a killer application to boost the MNO's Revenue in 2009 and beyond. There are many business models that depict each markets' specifics, but all of them have one thing in common, which are:
- Offering financial services over mobile networks
- Banking the unbanked or under-banked and collecting a profit from this neglected communications field.
From customer perspective, M-Commerce is an additional feature on their mobile device, that helps them to send and receive money, settle their bills, buy goods and services. Customers are very happy to see joint ventures between the MNO and banks, these vetures bring the consumers safety and security to the perfectly convenient tool - the mobile phone.
In this emerging market there are many opportunities for partners of MNO's (Merchants, Money Transfer Companies, Payment Card Associations) in this business.
A perfect Mobile Money ecosystem means successful partnership between mobile operators, that provide users with Mobile Wallet, Banks and Banking infustructures that offer their know-how, legal umbrella and significant number of Merchants that make this system available.
We at VRC are offering consulting services from the Analysis to the Product Stabilization phase. Therefore, don't hesitate to contact us if you are interested in grasping all good sides of this new technology.
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VRC will focus on all markets segments, not only within ICT, but also Financial, Utilities, Logistics and neighboring countries markets. Once we get a clear picture of all parts we estimate how they interact and how will this system develop in time. This is the most important document that will be our guidelines while deciding which product feature to launch and when. For that reason it has to be very comprehensive and in detail. M-Commerce is a necessity of a modern life, but only a perfect match of market needs and your offer guarantees a complete success.
In principle, mobile operators need a telco regulator approval for any new VAS service, but VRC experts will liaison with the Bank in order to help them secure the financial regulator's approval, too. To do this, a comprehensive legal analysis should be in place, so all legal (national and international) frames have been considered and the best strategy to approach the regulators has been suggested.
To ensure a jump start of our clients, VRC timely produces and presents the entire operation readiness. Each division and department will be carefully scanned and the position of a new M-Commerce team will be suggested. While estimating resources and their ability to deliver on M-Commerce Project execution phase, VRC will advise on the best choices to lead and manage M-Commerce department, based on a long-term KPIs.
Whenever Marketing team introduces some new service, you will see CIO and CTO worried about their business as usual and how will this affect their overloaded resources. To have a smooth and effective integration of M-Commerce with the existing platforms, VRC will carefully plan all tasks, resources, timelines, dependencies and share will all stakeholders what are the small deliverables and expectations. We'll first estimate your Technology and then we will suggest M-Commerce solution that can fit best into the existing environment.
Business Case has to be realistic, not ambitious nor conservative and it has to be updated with actual on a regular basis. VRC will make a Cost-Benefit dashboard for its client, to promptly react on all external and internal changes.
The most important part of any new product is the customer experience and the word of mouth. Entry Strategy - our main analysis output - provides our clients with the most suitable way to communicate this new service to the market, the right set of features to introduce in the beginning, the appropriate distribution network and a cost-efficient Back Office to overshadow all processes.
A mobile financial transaction is a return flight of payment information from mobile phone to payment platform via all integrated systems. It has to be fast, safe successful. VRC will ensure the right Architecture so each component has a full redundancy and SLAs that guarantee support, maintenance and operations are in place.
VRC professionals will work closely with your Procurement so we get the best quality at the best prices. We combine our M-Commerce expertise with your Procurement experience and cut the costs and ensure better proposals from the vendors. VRC will ensure that all paperwork is done timely and efficiently and that all documents are in place.
You want a reliable partner that will help you not only to get the licenses but to manage the product smoothly throughout its life-cycle. VRC will analyze the bank universe for you and suggest the best partner and the best partnering agreement and how to make it true.
Once you successfully launch the basic M-Commerce services, VRC will help you to constantly introduce new features so to keep your innovative leadership and satisfy the market needs. It is a process of recognizing convenience, technical feasibility, cost-benefit analysis, choosing the right 3rd party and how to make a win-win scenario. We will provide you with all needed inputs so you secure your long term leadership and advantageous position while under negotiations.
The key to the successful M-Commerce implementation is to keep your Merchants happy and motivated. To do this you need to establish a direct relationship and an effective and safe cash collection and distribution. VRC will produce for you a Selection criteria, Merchant Value Proposition, Agreements, POS marketing material concept and a realistic road-map how to expand your network and introduce new services at POS'.
As a final stage of M-Commerce implementation, VRC can suggest Marketing, Product and Pricing concept over certain period of time. VRC segments the market so you target the right groups with right marketing communication and offer the right products to right users at the best prices. We'll be working closely with your Product, Pricing and Marketing Communication departments, so once you have M-Commerce on your shelves, your team will be capable to manage it completely.
VRC MM Audit Service is an in-depth analysis of both MM Project and MM Business as Usual, with a single aim to find what can be improved and to suggest needed activities. Our professionals will scan each Project task and work stream and localize where the inefficiency, if any, comes from. From our experience we know that licenses can always be less expensive, that support can always be more prompt and distribution strategies more adequate. VRC will be carefully studying all existing processes and produce the two documents that will give you a clear picture of needed corrections, the quantitative one (Revised Business Case) and qualitative (Revised Product Concept Document).
Based on this solid ground, VRC will suggest you to introduce a new features of MM service to enhance your MM portfolio and harness this new improved approach.
Mobile Wallet (MW) is a financial transactions service that combines the best of banking and mobile telecommunications technology services. It is a fast, safe, convenient and inexpensive method of money transfer (in both National and International markets), for purchasing goods and services, the payment of utilities and much more.
End MW User(s) will see an application on their mobile phone that will offer them a money transfer, prepaid recharge, postpaid bill payment, electricity bill payment and all they need to do is to ensure enough money is in their MW account and use this service from the convenience of their home, or anywhere they might be within your mobile network operations.
VRC has successfully delivered mobile commerce services within several markets and is willing to offer our value added experience to support clients with this specific revenue generating service.
