Introduction To Fullrich Malaysia Solutions [PDF]

Zitiervorschau

INTRODUCTION TO FULLRICH & TAPAY

Under Malaysia’s Economic Transformation Programme, Specific Targets Have Been Identified By The Government And Implementation Is Currently Being Led By Bank Negara Malaysia:

by 2020: EPP4:

Creating an Integrated Payment Ecosystem

Reduce dependency on cash to 63% of total transactions Increase e-payments to 200 per capita Achieve 25 point-of-sale (POS) terminals per 1,000 inhabitants

Achieve 30 debit transactions per capita

Private & Confidential – Not for Distribution or Reproduction

2

Stronger Push Needed To Achieve Targets E-Payment Transactions Per Capita1

Share of Cash in Number ofTransactions2

Payment Landscape In Malaysia

“Low Penetration of e-Payments”

“High Usage of Cash”

“Low Number of POS”

“Large # of Debit Cards… not being used to pay”

POS per 100,000 Adults3

Key Ratios

10% 12010 22010 3 2009 4 2010

Private & Confidential – Not for Distribution or Reproduction

Realized against 20-20 target

45 :30 population debit payments 1 :8 cash withdrawals debit cards

4

4

Reference: Bank Negara

3

Various Public And Private Initiatives Have Commenced To Invigorate The Adoption Of A “Cashless Lifestyle”:

Public Initiatives

Introduction to market Lower rate than credit card schemes

Private & Confidential – Not for Distribution or Reproduction

Private Initiatives Entrance into cashless market

Fresh funding into local payment entities, such as:

4

Today, There Are Two Categories Of Cashless Payment Providers: Banks and TPAs Banks

Key market segments served: Large merchants such as franchises and MNCs. Rates: Between 1 % to 3%.

Notes: Usually provides other financial instruments to clients.

Private & Confidential – Not for Distribution or Reproduction

TPA s

Key market segments served: E-commerce platforms of large merchants, online marketplaces such as Lazada and Zalora. Rates: Between 1.5% to 4%.

5

The Problem: There Is A Large Underserved Community of Entrepreneurs Majority microenterprises

Annual turnover RM3 million OR 5 to >30 full-time employees Annual turnover RM3 million to >RM20 million OR 30 up to 75 full-time employees Private & Confidential – Not for Distribution or Reproduction

6

Enter: Fullrich Beijing and Fullrich Malaysia Why Are We In Business? 1

We want to remove barriers to business and growth by making it easier for individuals and entities to realize their dreams without worrying about payment processes and security.

2

We want to make the transfer of funds safe, seamless and painless wherever and whoever you are, in order to give you peace of mind.

3

We believe that in doing so, we make the world ‘flatter’ and ‘closer’ – by providing everyone equal opportunity and encouraging the flow of goods, services and ideas across borders.

Why Are We Here? Mobilizing experience and proven technology to realize Malaysia’s vision of a cashless society

Established thank to Cyberview Sdn Bhd and Tan Sri Irwan Serigar Private & Confidential – Not for Distribution or Reproduction

7

Beyond Payments –A Broader Problem

A cashless society is more than just enabling the acceptance of debit /credit cards in person or online.

It is an eco-system that supports a technology-led lifestyle – where everyday tasks are executed via handheld devices quickly and easily.

But for a nation with only 56 e-payment transactions per capita in 2012 (Source: BNM “Electronic Payments On The Rise”), how do we create an eco-system that encourages e-payments and the greater use of technology?

We need a Smart Nation. Private & Confidential – Not for Distribution or Reproduction

8

Pilot: The Cyberjaya Smart City Project with Cyberview As part of Cyberview’s Smart City initiative, which aims to transform Cyberjaya into a Global Tech Hub, the company has actively encouraged local and international entrepreneurs to invest and co-create in Cyberjaya.

APRIL 2017 Secretary General of Malaysia’s Ministry of Finance and Chairman of Cyberview Tan Sri Irwan Serigar visited Fullrich Beijing’s headquarters and R&D center.

Private & Confidential – Not for Distribution or Reproduction

MAY 2017 Fullrich Beijing signed a Memorandum of Understanding with Cyberview in May 2017, witnessed by Prime Minister Dato’ Sri Najib Razak and Tan Sri Irwan Serigar.

ONGOING Per terms of the MoU, Fullrich is working to turn Cyberjaya into a regional Financial Technology hub, starting with the introduction of its (localized) e-wallet in order to contribute to the Malaysian cashless society agenda while elevating technological adoption and innovation in Malaysia.

9

Fullrich Has Already Leapfrogged Its Competitors In Malaysia Through The Smart City Cyberview Project Which Will Launch November 2017

Private & Confidential – Not for Distribution or Reproduction

10

PART II: STRATEGY 1. Key Stakeholders: Barrington Group, Fullrich Beijing, and Affin Bank 2. Structure & Business Plan of Fullrich Malaysia 3. Fullrich Malaysia’s Solutions

Fullrich Malaysia is Supported by Strong Partners with a Single Shared Objective: “Make Fullrich the Dominant Cashless Solution Provider in Malaysia.”

FULLRICH BEIJING Technology specialist and provider Sponsor bank DEALER NETWORK Go-to-Market Ground Troopers

Private & Confidential – Not for Distribution or Reproduction

Smart city model and enabler

13

Through This Unique Relationship, Fullrich Offers A New Model That Nobody In The Industry Has Implemented Before; In Turn Offering Tremendous Value To Custome rs MEET OUR 5 S’S

Speed

Scale

• To market: via partnership with Affin Bank (rolling out to its existing merchants) and Cyberview (rolling out in Cyberjaya)

• For merchants: dealer network allows Fullrich to reach merchants across industries and locations quicker and more cost-effectively, thereby allowing Fullrich to scale faster.

• To set up: merchants onboarded in 48 hours; users onboarded immediately • To grow: via partner and dealer network, Fullrich reaches across Malaysia and the region.

• For users: size & growth rate of marketplace and number of merchants accepting Fullrich solution (whether as Fullrich app or whitelabeled) means consumers are able to use our solution across daily life.

Private & Confidential – Not for Distribution or Reproduction

Security

• Bank-grade: partnership with Affin Bank means all Fullrich processes must pass Bank Negara Malaysia requirements. • International standard: Adherence to all required / voluntary standards within the industry e.g. PCI DSS.

Simplicity

Sophistication

• QR Code: a method of identification & transmitting of data that has been in place globally (and in Malaysia) for years, QR codes are simple to roll out and use.

• The Forefront: Fullrich Malaysia will continue to introduce the latest international technologies such as retina-scanning features (for enhanced security). Advancements to Fullrich’s solutions will be rolled out only upon approval from Bank Negara Malaysia, and only with the support of relevant partners.

• Experience: Fullrich Malaysia is committed to ensuring a smooth, seamless and simple experience for merchants, users, and dealers – from signing up, to daily usage, to transfer of funds, to issues management.

14

Fullrich, An Experienced Payment Provider From China, Is A Perfect Match That Can Offer Malaysians An End-to-end Cashless Experience Through Well-proven Technology Offerings

FULLRICH (Stock code: 839084)

Market Cap: USD200m

A 3rd party payment system and service provider with core independent R&D technology and recognized and registered software enterprise qualifications.

Private & Confidential – Not for Distribution or Reproduction

Fullrich provides third-‐party payment agencies with various solutions, including: • • • • • • •

Prepaid card system Internet payment system Aggregated payment system Smart city system Value-‐added and anti-‐money laundering system Risk control provisions verification system License application etc. 15

Fullrich’s Xiang Fu Bao Aggregates ALL Top Chinese Payment Solutions Within A Single eWallet App

Bank /debit cards

Coupons and red packets

Private & Confidential – Not for Distribution or Reproduction

The development and advancement of mobile payments provides merchants with convenient aggregate platforms that accept (and process) a variety of payment methods such as:

1. 2. 3. 4. 5.

AliPay payment code WeChatPay payment code Bank /debit cards Cash, coupons, micro red packets Credit cards

Our solution also provides daily cash reports (to give merchants an overview of their business), which eradicates manual bookkeeping (and therefore reduces errors in reporting) and saves time.

16

Fullrich’s large business footprint in China is proof of its experience and trustworthiness, all of which can be successfully replicated in Malaysia for enhanced customer confidence • Service Area: All over China • Main Areas: o Beijing o Fujian o HeBei

TRACK RECORD 2016 (Audited):

50 billion transactions

o ShanXi 35 million business partners o DongBei ON TRACK o Shandong 2017 (Projected): o SiChuan o AnHui 150 billion transactions 60 million business partners o JiangSu o GuangXi o HaiNan o YunNan etc. • Dealerships: approx 10,000 • Business Partners: 35 Million Private & Confidential – Not for Distribution or Reproduction

17

How We’re Getting There International Standard, Bank-Grade Security

Security certification Illegal businesses blacklisted

Wide-range of Offerings Something for Every Industry / Merchant /Consumer

Value-Added Solutions

PCI DSS

Blacklist database

Fraudulent transactions blacklisted

Anti-fraud system

Daily transaction monitoring

System monitor

Transaction monitoring Identify money laundering transactions to prevent risks

Private & Confidential – Not for Distribution or Reproduction

• Coupons and cash-back systems, in addition to loyalty points and points for referrals • RFID bracelet /wearable tech integration • Data analytics: trend analysis and predictive analysis • Geo-targeting for flash deals / targeted promotions • Storage of all loyalty cards across programs within app 18

Together With Strong And Effective Local Partners, Fullrich Can Provide Best In Market Offerings To Its Customers

Lower cost of processing payments

No limits: our products can be used by customers of any bank, on any device, across any telco provider.

Private & Confidential – Not for Distribution or Reproduction

Merchants receive bank-grade security, and the peace of mind from Affin Bank, which is responsible for settlement.

Seamless integration with legacy Point of Sale (POS) solutions and ECR devices. This reduces errors, report duplication, and transaction settlement costs.

We provide merchants with the ability to significantly automate processes through added device-agnostic enhanced technologies such as kiosk and mobile solutions.

19

Solution: Street Parking USER 4

1

User parks car in council designated lot along the street

2

User opens app and scans QR code on council sign board

3

User inputs license plate and duration, then confirms payment in-app.

Countdown begins in-app until expiry of parking – user will receive notification when parking is 15 minutes from expiring with option to renew in-app.

ENFORCEMENT 1. 2. 3. 4.

Enforcement officers check app to verify parking status of cars along the street. If user has exceeded time limit, officer takes picture of vehicle (including license plate) within app. Image (with time-stamp) sent to user along with notification of fine. Fines can be paid in-app via debit or credit card.

Officers

Automated

Private & Confidential - Not For Reproduction or Distribution © Fullrich

1. Security cameras along the street log license plates and match against parking payments made via app. 2. When user has exceeded time limit on parking payment, user is notified of fine inapp, along with camera image (with time stamp) and system log of parking payment and duration received. 3. Fines can be paid in-app via debit or credit card.

19

Solution: Parking Complex Option 1: Entry

Security camera captures license plate and time of exit

Option 1: Exit

Security camera captures license plate and time of entry

1

Driver opens app, keys in license plate 2

Gate opens and driver drives off

Option 2: Entry 1

Drive to selected parking lot

Driver searches available parking bays

3

• App calculates parking fee based on license plate verification • Driver confirms payment

Option 2: Exit

2 3

3

At boomgate, driver connects via Bluetooth / scans QR code /flashes QR code for scanning

1

Driver reaches boom gate and opens app

Driver confirms payment 1

2

4

• B oomgate opens • Connects to server to notify time of entry and driver ID

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Feeds parking fee to app

Boom gate opens

4 20

Solution: Public Transport Departure Access train platform or bus by flashing QR code on reader at gate.

1

OR

If sufficient balance: No payment deducted, gate / validator automatically allows boarding while holding maximum trip cost. If insufficient balance: Access denied until user tops up e-wallet funds.

Arrival

2

Fare amount deducted, app releases extra amount held at boarding back into wallet. Turnstile opens /passenger exits.

1

Individual arrives at destination, flashes QR code on reader at gate /door

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Behind the scenes: Fullrich transfers funds from user’s account within Fullrich’s Affin Bank Trust Account to transport operator’s account within the same Trust Account.

22

Solution: Tourist Spending & GST 1

Tourist informed of app en-route to Malaysia /upon arrival

2

Tourist downloads app, completes basic profile and includes payment method

3

Payment methods accepted: credit card, debit card, WeChat Pay, AliPay, etc.

Vouchers / coupons and complimentary travel guide included in app to promote local stores / attractions.

1

1

Departure from Malaysia: Tourist goes to Customs booth, provides QR code for scanning

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Relevant embassy (of tourist’s nationality) alerted for safety and security purposes

Tourist can earn coupons by giving feedback /reviews

When shopping: • Tourist provides QR code to stores to scan • Tourist can also opt to pay with app

2

2

Customs refunds GST into account provided by tourist in app

Malaysian Customs Department notified for GST refund purposes

Customs Department notified of GST to be refunded, prepares refund in real time

Tourist feedback shared with Tourism Malaysia for filing / action

23

Solution: F&B & Retail: Payment Using E-Wallet Purchase & transfer funds via QR code /selecting merchant ID in app 1

2

Goods & receipt (print or digital)

Funding for e-wallet

Withdrawal from e-wallet

Example QR Code Vending Machine in China taken from Google Image search without permission.

Private & Confidential - Not For Reproduction or Distribution © Fullrich

24

Solution: Money Changer: Payment Using E-Wallet Purchase & transfer funds via QR code /selecting merchant ID in app 1

2

Goods & receipt (print or digital)

Funding for e-wallet

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Withdrawal from e-wallet

25

Solution: Hospitality: Booking and Check-In Booking & payment info 1

Booking confirmation & QR Code

1

Arrival at hotel, self check-in via app /kiosk or at counter

2

3

2

Unique QR code generated and sent to customer’s app

Access hotel room by flashing unique QR Code at door (equipped with QR / Barcode scanner)

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Free image from: Icons made by Freepik from www.flaticon.com is licensed by CC 3.0 BY

25

Solution: Hospitality: Purchases and Check-Out 1

2

Room service /laundry request; concierge requests

Acknowledgement & deduction of payment (if any) upon presentation of customer’s unique QR code

Goods /service & receipt (print or digital)

3

1

Customer’s QR code scanned as confirmation – QR code disabled immediately upon confirmation of check-out by hotel and by user

Check-out via app, kiosk or counter, confirmation of any additional expenses etc. 2

Receipt provided (physical or digital), request for feedback 3

Provide feedback /review 4

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Voucher /loyalty rewards

27

Solution: Primary / Secondary Education: Enrollment Parents enroll child: • Funds put into student account • Daily limits set • Student receives RFID wristband School negotiates with partner stores (for uniform / books) and canteen management for better rates for students

School stores the funds and programs student’s account and ID card accordingly Provides pool of funds for school to generate additional income.

Private & Confidential - Not For Reproduction or Distribution © Fullrich

28 27

Solution: Primary / Secondary Education: Usage of Wristband Spending at canteen / book store / vending machine

1

Student uses wrist band to purchase item on-site

2

Transaction connects to school network: Screen displays student’s face and name.

3

Account updated

Paying fees 1

Student uses wrist band to pay school fees; teacher scans wrist band

2

Transaction connects to school network: Screen displays student’s face and name.

3

Account updated

Attendance • Teachers scan wrist bands to take attendance. • Students scan wrist bands at doors upon entrance and exit. • School tracks students’ locations via wrist band.

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Allow parents to track child’s whereabouts throughout the day (also assists with pick-up after school to reduce traffic around school zones)

29 28

Solution: Tertiary Education: Enrollment Parents enroll child: • Funds put into student account • Daily limits set • Approved and prohibited spending list set

Student-specific QR code pushed to student’s app, and printed on student’s ID card University negotiates with stores on campus and nearby for better rates for students

University stores the funds and programs student’s account and ID card accordingly Provides pool of funds for university to generate additional income.

Private & Confidential - Not For Reproduction or Distribution © Fullrich

30 29

Solution: Tertiary Education: Usage of Smart Card / Phone Spending On Approved Items

1

Student shows QR code (via ID card or via app) at cafe

2

Café scans QR code, amount deducted from student’s account and sent to café’s account.

3

Accounts updated

Spending On Prohibited Items 1

Student shows QR code at bar /to purchase alcohol

2

App refuses purchase, sounds alarm – shop /bar owners notified via merchant app

3

• Transaction denied • Parents and university alerted immediately

Private & Confidential - Not For Reproduction or Distribution © Fullrich

30 30

Solution: Courier Services

1

Customer makes purchase on ecommerce /mcommerce

2

Order fulfilled and dispatched

3

Order reaches customer, delivery team can collect additional fees / duties etc in person using QR code and scanner

Customer receives tracking number, logs on to courier service’s app for notifications, tracking, payment of additional duties /taxes /fees, request changes to delivery location /time, nominate another person to collect on behalf, etc.

Private & Confidential - Not For Reproduction or Distribution © Fullrich

32 31

Solution: Petrol Station: Self-Service & Store 1

Payment: E-Wallet at self-service – machine scans customer’s QR Code OR customer scans each machine’s unique QR code and enters transaction amount Receipt, petrol and loyalty points /rewards

2

Behind the scenes: Fullrich transfers funds from user’s account within Fullrich’s Affin Bank Trust Account to station’s account within the same Trust Account.

1

2

Payment: E-Wallet in-store – staff scans customer’s QR Code

Receipt, petrol and loyalty points /rewards

Private & Confidential - Not For Reproduction or Distribution © Fullrich

33 32

Solution: Medical: Hospital –Making An Appointment Make booking via app: provide personal & payment information, insurance information (if any), nature of appointment (for determining which department /doctor to see), details of appointment

1

2

Confirm booking & generate unique QR code

If booking made using corporate account / insurance: notify individual’s employer

Private & Confidential - Not For Reproduction or Distribution © Fullrich

3

Notify insurer and request information on sum /type of treatment insured

4

5

Pull up patient records /begin creating record based on information gathered from individual and insurer

6

Notify relevant doctor(s) and share information on patient

34 33

Solution: Medical: Patient Check-In & Treatment

1

3

1

1

Check-In via kiosk /at counter by flashing QR code

2

Notify patient’s employer (if using corporate account) and insurer (if relevant)

Hospital prints QR code for patient forms and for patient wrist-tag

Nurses scan all items / medication used, and scans patient’s QR code to log to patient’s account in system immediately

3

Update insurer (if relevant) as it happens

Doctors input diagnoses, test results, time spent 2

Private & Confidential - Not For Reproduction or Distribution © Fullrich

Hospital updates patient records and cost of treatment as-it-happens

4

Insurer prepares payment

35 34

Solution: Medical: Checking-Out Of Hospital Final bill & request for payment (if not covered by insurance)

1

3

Receipt sent to app 3

2

2

Dispense medication

Make payment by providing individuals’ payment QR code (if not covered by insurance)

Make payment (if covered by insurance)

3

Share receipt (if under corporate account)

1

Bill & request for payment (if covered by insurance)

Private & Confidential - Not For Reproduction or Distribution © Fullrich

3

Update individual’s policy

36 35

Solution: Medical: Remote Care

1

App notifies discharged patient about: • Medication (schedule and reminders) • Check-up (schedule and reminders) In case of emergency: individual sends notification to 1 hospital via app

3

If medication running out, individual can make purchase via app

Hospital dispatches medication and provides receipt

Individual can send updates /ask questions via app

2

3

2

Medical team can engage individual directly via app

Immediate alert issued at hospital

Hospital dispatches team to person’s home

Private & Confidential - Not For Reproduction or Distribution © Fullrich

37 36

Solution: Additional Services App 1

8

• • • • • •

Bill payments Council Fees (City councils) Airfare (AirAsia) purchase Bus & train tickets Education fees (public & private institutions) Credit card and loan payments

•

[APP ONLY] Push notifications for council announcements for citizens /businesses (such as tender alerts)

•

Healthcare costs

•

Road tax renewal application

•

Voter registration /change of address or other details

•

Payment of fines (PDRM, council, etc)

•

Track status of council applications & licenses

•

Prepaid top-ups for cellphones, online shopping, etc

Notification & receipt

Kiosk

Website

2

7

Request permission & funds 4 5

6

3 6

Send approval and funds

Private & Confidential - Not For Reproduction or Distribution © Fullrich

38

How We Protect Users and Merchants

• •

Bank-grade security Trust Account in Affin Bank

•

Insurance coverage of Trust Account by PIDM

Private & Confidential – Not for Distribution or Reproduction

•

Total observance of Bank Negara Malaysia rules and regulations, including emoney license requirements

•

Observance of international Cardholder Data security and safety protocols

• • • •

Proof of identity requirements Proof of financial ability requirements E-KYC and KYC with Affin Bank Ongoing monitoring of merchant and user accounts

39

Pricing & Package Options

Payments and refunds via QR Code

Instead of customers keying in card information for purchases, users of Fullrich’s e-wallet can pay and receive refunds via QR code. Cost of QR code and integration: None

Transaction fees and settlement

Now 1% transaction fee, T+11 settlement

1:

Payment analytics for better understanding of consumer behaviors across demographics and locations.

Only for Affin account holders; non-Affin holders to add +1 working day to settlement period

Cost of analytics delivered monthly: None2

2:

Private & Confidential – Not for Distribution or Reproduction

For basic analytics

40

THANK YOU For Enquiries: Nurul Hafiza |Marketing Manager of Fullrich Malaysia Sdn Bhd | [email protected]

Private & Confidential – Not for Distribution or Reproduction