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Online Money Transfer Solutions - IMTC Nov 2013
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Transcript of Online Money Transfer Solutions - IMTC Nov 2013
Introduction
-Who am I?
-WireCash: ”Expedia of money remittance”
-Enabling remittance companies to transact online
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Online Benefits - Gold Rush
● Market Opportunity
● Fewer players, less saturation
● Leverage licenses & distribution
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Online Market Opportunity
● $500 million- Western Union 2015 online revenue projection*
● 90%- Xoom annual CAGR**
Source: *Hikmet Ersek, as quoted by Reuters in Nigeria. June 18, 2013** Xoom S-1 Filing. January 11, 2013
Internet Usage by Latinos 2009-2012
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Online Customer Acquisition
● CPA for Xoom $50 per customer*
● Target specific demographic segments
● Translate your brand onlineSource: *Xoom S-1
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The average stolen credit cardaccrues $1,600 in expenses andtakes 28 days to be detected.*
*Javelin 8th Annual Card Issuers' Safety Scorecard
Payment Fraud
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Build vs. Outsource
● Cost - Benefit
● Industry specialized system
● Customer Insult vs. Conversion vs. Scalability
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Outsourcing Advantages
● Different skillset
● Technology centric
● Maintain focus
● Less cost
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