Guidelines on Mobile Money Services in Nigeria

Zaggle YES BANK Caselet

Problem - Creation of innovative prepaid card instrument for rural and semi-urban markets with a wide range of associations and possible solutions are expected as well.

Solution provided by us- Yes bank and Zaggle formed a partnership in order to create an innovative prepaid card option for the rural areas. Their objective is to provide a card that is easy to use and can provide good value to the customer. The following solutions have been developed to achieve their requirements:- 

Technical Features and Facilities

Zaggle-YesBank prepaid card will have these facilities for their customers in rural and semi-urban regions:-

• Every YesBank account holder should be given this card on opening up of a new account there, with Rs.100 as default balance in the card and with 5-10 % discount on 1st 5 transactions with the card.
• It will have the basic security 4 digit pin number for accessing the card services.
• It should have an embedded chip technology which will generate a code to make the card unique, such that they cannot be replicated by the fraudulent ones (like that of VISA cards).
• SSL (Security Socket Layer) encryption should be there.
• It should be provided with an active helpline number which can be used when the card gets lost and stolen for further procedures.
• For every transaction, the transaction history and the balance will be updated and the user will get the update in their mobiles phones.
• Providing only 3 incorrect entries for the password after which the user’s account will get locked, and the user had to call the same helpline number for unlocking his account, where he will get OTP after providing his account number and phone number correctly, and he can use that OTP for accessing his account temporarily for that time. Later on the user should go to nearby YesBank branch for getting his permanent 4 digit pin number.
• The card can be used anywhere the money is required like paying up of bills, hospitals, retail stores etc., the places which can provide card payment system.
• Minimum service fee for card usage should be there, to facilitate their rural customers especially.
• If the user reaches a certain minimum balance on his card, he should be notified immediately in his registered mobile number. And he should be notified for recharging his prepaid card.
• Prepaid card recharge can be done in any YesBank branch.

Marketing Roadmap for the technical solutions

Product:

This section will consolidate the features of the product that can be used for the promotions. The rural and semi urban areas would be more concerned with the ease of use of the technology and the additional benefits it would provide. For this reason, the following features of the product can be considered as the central objectives of the promotion: