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Quisk: Solving the problems
associated with cash
Dan Glessner and Steve Novak
June 20, 2014
International Finance Corporation
SME Finance Forum
• Why we are here
• The opportunity
• Who is Quisk
• How Quisk works
• Why Quisk
• Next steps
Agenda
© 2014 Quisk, Inc. Proprietary and Confidential. 2
Quisk + IFC SME Finance = Winning
team
© 2014 Quisk, Inc. Proprietary and Confidential. 3
• Over 6 billion mobile phone
numbers
• Only 2 billion bank accounts
• Over 4 billion credit cards
• Yet 85% of all retail transactions
conducted in cash
The opportunity: A macro view
© 2014 Quisk, Inc. Proprietary and Confidential. 4
© 2014 Quisk, Inc. Proprietary and Confidential. 5
Source: McKinsey Global Payments Map,
2013.
Cash-based
economies
More
digitized
economies
More transactions are going digital, but cash
is still used extensively in many countries
• Governments
Cash usage is associated with slower economic growth and leads to the development of a shadow economy
• Banks
Do not participate in cash transactions (unlike credit/debit cards)
• Merchants
Cash makes their customers more opaque and prevents effective marketing
• Consumers
• Presents personal safety risks and higher risk of losing life savings
• Significant time spent and inconvenience of having to get cash for payments
• Hassle of managing multiple merchant loyalty program cards
The problems associated with cash
© 2014 Quisk, Inc. Proprietary and Confidential. 6
Around the world today, there are over 225
“mobile money” projects around the world,
but…
© 2014 Quisk, Inc. Proprietary and Confidential. 7
Source: http://www.gsma.com/mobilefordevelopment/programmes/mobile-money-for-the-
unbanked/insights/tracker
BUT successful implementations have been
few!
Quisk is a Silicon Valley-based start-up that digitizes cash and enables cashless transactions and financial services to anyone with a mobile phone number.
We partner with banks others to provide a cloud-based digital cash services and transaction processing platform—which leverages existing core banking and POS infrastructure—for integrated mobile payments and digital marketing/loyalty.
We digitize cash.
Who is Quisk
© 2014 Quisk, Inc. Proprietary and Confidential. 8
What we do
© 2014 Quisk, Inc. Proprietary and Confidential. 9
Quisk partners with financial institutions and others to digitize cash
and provide safe, simple and secure financial services and cash-less
transactions for anyone with a mobile phone number.
• Quisk offers cloud-based platform to enable banks to
offer new consumer product
• Banks work with merchant acquirers to sign up
merchants (leveraging their existing POS systems)
• Banks offer Quisk accounts to new and existing
consumer customers in compliance with KYC, AML, and
other country-specific regulations
• Consumers, using their mobile phone number and
PIN, make retail or online purchases, P2P transfers, cash
in/cash out, and pay bills—phone does not need to be
present
How Quisk works
© 2014 Quisk, Inc. Proprietary and Confidential. 10
Quisk solution elements
© 2014 Quisk, Inc. Proprietary and Confidential. 11
Quisk go-to-market strategy: Focus on banks; they
are trusted most by consumers for mobile payment
services
© 2014 Quisk, Inc. Proprietary and Confidential. 12
Source: Alix Partners Mobile Financial Services Tracking Study Q2 2012, U.S. geography,
N= 1,023
Comparing Quisk to alternatives
© 2014 Quisk, Inc. Proprietary and Confidential. 13
Why Quisk: We enable “Correspondent
banking”
© 2014 Quisk, Inc. Proprietary and Confidential. 14
Banks do NOT have to open new branches in remote
areas!
http://www.zawya.com/story/ADCBs_pioneering_Quisk_
Mobile_payment_service_wins_Best_MPayment_Initiativ
e_award_at_The_Mobile_Show_2012-
ZAWYA20120423111837/
Quisk (formerly known as MOBIbucks) is the power
behind the first all-digital bank account initiative being
deployed by ADCB, one of the United Arab Emirates’
leading banks. ADCB has a network of 172 Automated
Teller Machines (ATMs) across the UAE and 48
branches in the UAE as well as two branches in India.
The new digital cash account simplifies and speeds the
payment process, allowing bank customers with any
mobile phone to conveniently pay by using their phone
number and a secure PIN of their choosing.
Why Quisk: Best Mobile Payment award
winner
© 2014 Quisk, Inc. Proprietary and Confidential. 15
• Consumer’s PIN is created on a secure PIN pad, encrypted and transmitted
over a secure data link; stored securely using one-way hash algorithm
• All bank account information is stored on Quisk platform in token form; Quisk
does not see any internal banking data
• Account, transaction amount, frequency, location and use controls
• Account holder controls include CONFIRM, LOCK and FREEZE commands
• Consumer account locked after three consecutive incorrect PIN attempts
Why Quisk: The most secure payment
solution
© 2014 Quisk, Inc. Proprietary and Confidential. 16
Why Quisk: Only Quisk delivers the in-store mobile
purchase approach desired by today’s consumers
© 2014 Quisk, Inc. Proprietary and Confidential. 17
Quisk lets consumers pay the way they would like—by using
a PIN and not even taking out their mobile phone. Quick.
Easy. Secure.
Which of these payment types would you prefer when making in-store purchases? (U.S. consumers)
Source: comScore Digital Wallet roadmap, 2013
Summary: Value for all ecosystem members
© 2014 Quisk, Inc. Proprietary and Confidential. 18
• Recommendations?
• Countries?
• Contacts?
• Other partners?
Discussion and next steps
© 2014 Quisk, Inc. Proprietary and Confidential. 19
Thank you
Dan Glessner, Chief Marketing Officer
Steve Novak, Chairman and C.E.O.
Learn more at: www.quisk.co
http://www.quisk.co/about/resource-center/
• Quisk 7-minute video demonstration
• Quisk digital cash solution tri-fold
• Quisk company overview
• Quisk platform data sheet
• Quisk white paper
• Quisk: The next step in the evolution of money ™
Quisk resource center
© 2014 Quisk, Inc. Proprietary and Confidential. 21
Why Quisk: Our unique competitive position
Cheap
Source of
Funds:
Cash
Expensive Source
of Funds: credit
cards, loans,
mobile minutes
Simple
Technolog
y: SMS
Complex
Technology:
USSD, NFC,
SmartPhone
Wallet
Unregulated
virtual
currency
Compliance
with all country
regulations
© 2014 Quisk, Inc. Proprietary and Confidential. 26
Our company name is derived from the
Latin word, quisque, meaning “everyone.”
Quisk is the quick and easy way for
everyone to use their money.
How did we select our company name?
© 2014 Quisk, Inc. Proprietary and Confidential. 23
http://vimeo.com/75882437
Quisk two-minute introductory video
© 2014 Quisk, Inc. Proprietary and Confidential. 24
