Winning the new financial era

Chapter 655 Give Benefits to African Brothers
"As the largest economy and the most populous country in Africa, Nigeria has the greatest potential in the mobile payment market, but its performance is not good enough, and the penetration rate of mobile payment is not high."

Reeves waited for the bosses to finish their speeches before continuing with his introduction.

He played the PPT and said: “Currently, Kenya is the best mobile payment provider in Africa, with a stable political situation and public security, and a pragmatic foreign policy. It is the most industrially developed country in East Africa, and 85% of daily consumer goods can be self-sufficient.

In addition, the Kenyan government attaches great importance to the development of education, and education funds have always accounted for about 20% of government fiscal expenditures.The adult literacy rate is nearly 90%, among the best in African countries.

If the Nigerian government can learn from the Kenyan government, I think Nigeria's rise should not be far away. "

Zhang Yida smiled. He thought what Reeves said was very reasonable. At the very least, he valued education, and there was absolutely nothing wrong with eradicating illiteracy.

"Kenya's M-Pesa was born in 2007. It is a mobile payment platform based on feature phones developed by Safaricom, Kenya's largest mobile operator, for users without bank cards.

Overall, M-Pesa is more like a combination of "mobile wallet + bank card",
The mobile phone number is the payment account number, and there is no need to install software or bind a bank card to complete the payment. "

Shen Beipeng became interested and asked, "Without a bank card, without an APP, why does this sound a bit far-fetched?"

Reeves smiled, "Now I will reveal the mystery to everyone."

After speaking, he turned the PPT page, and a grocery store appeared on the big screen.

Probably the kind of grocery store in the village in the eighties and 90s in the countryside. It is very dilapidated and the goods are very scarce.

Reeves said, "This is M-Pesa's agency outlets. There are 15.6 such outlets in Kenya, covering even remote mountainous areas.

Users who need remittance and transfer can register M-Pesa for free and control the account on their mobile phones only by simply entering basic information at each agency outlet.

Users realize the conversion between electronic currency and banknotes at the agent, while M-Pesa's back-end system helps users realize transfers and other services in different places.

Any current payment scenarios in China that can use Alipay and WeChat Pay have been covered by M-Pesa in Kenya. Even the deposit and withdrawal services that Alipay and WeChat Pay do not support can also be completed by M-Pesa through its outlets. "

Xu Xiaoming was amused, thinking what a great invention it was, and asked with a smile: "Isn't this the bank's offline branch? What's so strange about it?"

Shen Beipeng shook his head, "This is equivalent to the electronic wallet launched by China Mobile in our country, and it also has the attributes of bank deposits, withdrawals, and transfers."

"If this is the case, will those small store agents run away with money?" Xu Xiaoming asked.

Reeves nodded, "It happened before, but Kenya's law and order is relatively good, and people can be arrested quickly.

Over time, no one does such stupid things anymore. "

"Why don't Kenyan banks open their own outlets? Leave it to the telecom operators."

Reeves said with a smile, "I have worked in this company for ten years, and I know Kenya's financial level quite well.

There are only more than 2000 bank outlets in the country, and they are positioned to serve a small number of high-end groups. About 38% of Kenya's population has never used any financial services.

Moreover, no matter bank outlets or ATM machines, they only exist in the city center, which makes the user groups living on the edge of the city and the suburbs have to spend a lot of time and cost to handle banking business.

The emergence of such small store agency outlets has greatly facilitated Kenyan citizens to enjoy financial services.

Up to now, M-Pesa also has its own APP, and users with smart phones have also begun to use mobile phones to transfer money.

Only some users who use functional phones and remote mountainous areas continue to call agency stores to help with transfers and deposits and withdrawals.

The penetration rate of M-Pesa among Kenyan adult users is 90%, which is probably higher than that of any bank or mobile payment company in China. "

Hearing this, Zhang Yida almost understood how M-Pesa rose.

Although the company's approach is a bit rustic, it is very down-to-earth.

Ordinary people must be afraid of what to do if the money is lost in the mobile phone, but the nearly 16 physical outlets of the company have dispelled many worries of users.

In addition, these stores are also usage scenarios.

Over time, user habits are formed.

"Compared with Kenyans who are used to cashless payments, Nigerians are more willing to trust tangible cash notes.

They would rather go to the bank branch in the scorching sun and queue up for two hours to withdraw money than use mobile payment to pay. "

Reeves said solemnly, "Changing users' usage habits is the top priority!"

"We cannot replicate this model."

Zhang Yida shook his head, "Many mobile operators in Nigeria are foreign-funded companies from Europe and the United States, and I heard that they have a bad relationship with the Nigerian central bank.

It is impossible for us to buy a telecom operator in order to promote mobile payment. "

Reeves nodded, "I know that, the Nigerian market is a bit special, and the user concept is conservative, which is a difficult nut to crack.

The reason why I introduced Kenya and M-Pesa is that my suggestion is that Nigeria should continue to promote it according to the original plan, and devote more energy to Kenya, Ghana, South Africa and other countries with higher mobile payment acceptance.

Cellullant is currently active in 11 countries and has more than 1 million users.

If they can do it, so can we. "

Zhang Yida nodded, "Okay, that's no problem, we can increase some efforts in promoting it in other countries."

Reeves was a little happy to see Zhang Yida listening to his opinion, and introduced the consumer credit market again.

"M-Shwari, this is a credit product that provides users with a period of 30 days, a monthly rate of 7.5%, and a maximum amount of 100 million shillings (about 6.85 yuan). Users can directly apply for loans on the M-Pesa page .

M-Shwari每天能收到30万份贷款申请，平均每天发放贷款7-10万笔，平均信贷规模为3300肯先令（约226元人民币）。

This is also a big cake, but the risk control is relatively difficult, and the bad debt rate is as high as 10%. "

The loans in Africa are similar to those in Southeast Asia, and the annual interest rate of several hundred percent is normal, and it does not violate local laws.

Zhang Yida thinks that the monthly interest rate of 7.5% is a relatively conscientious loan.

According to his understanding, the annual interest rate of OKash under Opay is as high as 730%, but it will not put out a long-term loan of one year, usually ranging from 7-30 days, with a daily interest rate of 2%.

Even if the interest rate is high, it is said that the supply in Africa is in short supply. Once it was launched, it was snapped up. In the first quarter of this year, Opera, a US listed company, generated more than 2500 million US dollars in revenue, nearly 2 million yuan.

Zhang Yida squeezed his chin, should he call Yimin Loan and Yimin Wangjin to come over and distribute benefits to African brothers.

(End of this chapter)