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Can Mobile Devices Be Used toBetter Serve the Underbanked?
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About Plastyc
Our mission: deliver the power of a bank account in everybody’s phoneTo the traditionally under-served+ the angry-banked+ too young to care about banks
UPside Visa Prepaid Card
iBankUP
DepositCash
Salary
Checks
Transfers
PayCard
Checks
Direct
DebitSaveRainy Day
ReserveCash-back
earned Health
Discounts
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Our Audience
Less Affluent
No College Education
(measured by Quantcast: http://www.quantcast.com/upsidecard.com )
Household Income
Education Level
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Under-banked, under-insured, but not under-phoned
80% of our cardholders have a smartphone
Android ≈ 57%
iPhone ≈ 23%
Measured by our mobile serversApril1-April3 2012
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How can they afford smartphones?
Prepaid plansno contract, unlimited $40-$55/month
>60M prepaid users in the US
Plenty of sub $99 Android phones$39 Metro PCS
$79 Cricket Wireless & Verizon
$99 Virgin Mobile
© Copyright MetroPCS
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We cover all options
Any phone with a web browser
(no app)
Smartphone(free app from Google Play Store or iTunes App Store)
Low-cost tablet(free app on
Amazon app store)
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All account features are accessible via mobile
Balance & Statements Load cash via MoneyPaks
Initiate Direct Deposits Write paper checks on demand Direct airtime refill of cellphones
Manage cash-back rewards Activate companion cards
Remote cash loads Manage Savings Purse
Access Customer Service
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Example
Your phone is your checkbook
(except smarter)
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Benefits of smartphone apps
Everything the Mobile Web does+
Programmable Direct Geo-locatedAlerts Phone Support Services
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Building Trust
Alerts are sent upon
events chosen by
the customer
“Fee Box” shows all the fees using the CFSI proposed format
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Smaller Screens = Bigger Impact
• Mobile banking is more mission-critical for under-banked customers than for well-banked and wealthy individuals
• Under-banked people are better mobilized than the US average
• Push notifications to smartphones are the holy grail of better communication with customers: free and 100% open rate
• Payments via a phone are important for under-banked people for crucial things like bills, rent, receiving cash or direct deposits, not for making fancy touch-and-go NFC payments in taxi cabs…
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Thank You!
Contact us at: [email protected] 646-485-5267
See demos and screenshots at www.plastyc.com
