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Payment strategies in BRIC


Presented by:
John Snoek
John.snoek@globalcollect.com
Product Manager
GlobalCollect
BRIC Webinar Program

• BRIC program



• Helicopter view



• In-depth per country in next webinars



                                          2
Why?




       3
Why?

                                             GDP/capita                     Internet
     Country             Population                            Growth (%)
                                               (USD)                          Users

                               203 Mio               10,900          7.5%      76 Mio

                               139 Mio               15,900          3.8%      60 Mio

                            1,189 Mio                  3,400         8.3%      81 Mio

                            1,337 Mio                  7,400        10.3%     457 Mio


Source: CIA – The World Factbook | Internetworldstats.com



                                                                                        4
Why?
E-commerce volume in Billion USD
                                                51,0

      2009
                                                                E-commerce growth
      2010                               36,4
                                                                2008  2009   2009  2010
                                                       Brazil           39%            40%

                                                       Russia           28%         35-38%

                                                       India            30%            50%
         8,9
6,2                  6,7
               4,9                                     China            39%         38-45%
                           2,3     3,5



Brazil         Russia      India         China



                                                                                             5
Central themes

BRIC: Appealing but challenging




                         Local alternatives up to 30%


                                                    6
Framework




            7
Similarities

• Relatively closed economies | High E-com growth


• Government/central banks dominant


• E-com infrastructure less advanced


• E-com barriers (e.g. legal, repatriation)


• Higher fraud & chargeback rates (BRI)

                                                    8
Differences
E-readiness (EIU - 2010)

                                                 Business        Social and           Legal      Government         Cons. & Bus.
 Country    Overall score      Connectivity
                                               environment        cultural        environment policy and vision      Adoption
Brazil               5.27               3.60            6.66              5.73              6.10          5.70               4.93

China                4.28               2.65             6.36              5.40           5.20            4.60              3.11

India                4.11               2.15             6.27              4.67           5.60            5.10              2.88

Russia               3.97               3.85             5.72              5.13           3.65            3.00              3.01

USA                  8.41               7.35             7.85              9.00           8.70            9.25              8.60

 Debt vs. savings
 Country   GDP/capita (USD)       Debt %       Savings      Credit cards   Debit cards   Inhabitants    cc/capita       dc/capita
Brazil               10,900            35%           17%            191            233            194            0.98           1.20
Russia               15,900            13%           26%             10            119            141            0.07           0.84
India                  3,400           12%           24%             24            130           1189            0.02           0.11
China                  7,400           17%           47%            199           1800           1337            0.14           1.29

US                   46,400           136%            7%            686            488            310            2.21           1.57
Sources: creditcards.com | CIA factbook |                                                                                   9
The playing field
Setting up shop

1.    Conversion  Alternative payment 

2.   Local collection  Resident bank account

3.    Entity  Admin and operational cost


4. Type of entity determines how to repatriate and how it is taxed
       •   Local regulation of various industries (e.g. telco, travel)


5. Logistics
                                                                         10
The playing field
Taxes and repatriation
•   Tangible or intangible?
•   Customer = consumer or business?
•   VAT and withholding tax!



Capture relevant data in checkout process



Frequency of reporting and FX trade-off
Operational impact + currency exposure vs. cash flow

                                                       11
Brazil
“Craving for credit”
Brazil – The payers
 Country   GDP/capita (USD)   Debt %    Savings    Credit cards   Debit cards   Inhabitants   cc/capita    dc/capita
Brazil               10.900       35%        17%           191           233            194         0,98         1,20




• Installments (“parcelas”)


• Not everyone has a card or gets credit


• Cash or cards


• Relatively high # of chargebacks
Brazil – The players

      Cards            Banks   Alternatives




                                              14
Brazil – The players
                                                        Market share online payment methods

The star
• Boletos – Bank scheme
                                                                Cards
                                                                 60%
    – push payment using barcode
      (via online banking, bank branch, check or ATM)
                                                                                  Boletos
    – No consumer charge                                                           30%

                                                                                        Bank
The contenders                                      Others                            transfer
                                                     5%                                  5%
• Mercadopago & Dineromail
   Continuous high growth in last 3 years
    – Various funding sources

• Débito Online
    – Real-time banking


                                                                                     15
Brazil – Pick your team
 Payment methods
                Digital                          Physical             Travel
Cards           +++                              +++                  +++
Boletos         ++                               ++                   +/―
eWallets        ++                               ++                   ++
Bank transfer   +                                +                    ++
Mobile          +                                ―                    ―


                Reversible?                      Moneyback refund     Recurring
Boletos         No (except when paid by check)   No                   No
eWallets        No                               Yes                  No (being developed)
Bank transfer   No                               Yes                  No
Mobile          Yes                              Depends on carrier   Depends on carrier

                                                                                       16
Brazil – The gameplan

• Local BT + eWallets + Boletos = avg.  of 25-35%


• Your industry requirements (tax!)


• Local entity | Capturing consumer data


• Use third party for FX and repatriation
   – BRL cannot be repatriated




                                                     17
Russia
Cards are the alternative



                        MRC 2010 Semi-Annual Platinum Meeting
                        and 10th Anniversary Celebration

                        Austin, TX | October 1
Russia – The payers

• Cash lovers – Distrusting banks (1998)

• Prefer eWallets for online as cash substitute

• Majority online purchases = digital

• Travel up 500%

• Many cards not enabled for online

• Cross-border payments growing

                                                  19
Russia – The players

     Cards             Banks   Alternatives




                                              20
Russia – The players
The stars                                    Which online payment method do you
                                             prefer?
• Yandex (eWallet)                    70%

    – #1 FOP | RUB only
                                            45%
                                                        38%
                                                                            2008    2009

• Webmoney (eWallet)                              10%          12% 10%
                                                                               8% 7%
    – #2 FOP | Multiple currencies
      (Webmoney Gold)
                                      Cash on     E-money     Credit card    Bank transfer
                                      delivery

                                                                   Source: Romir – 2009

The contender
• Qiwi (ATM cash-in/eWallet)
    – Largest network of ATM‟s
    – 80 Million users a month
    – Funding source for eWallets, VISA prepaid or direct payment                        21
Russia – Pick your team
• Preferred payment methods
           Digital        Physical             Travel
Yandex     +++            +/―                  +/―
Webmoney   +++            +/―                  +/―
Qiwi       ++             ―                    ――
Cards      +              +                    ++
Mobile     +++            ―                    ―

           Reversible?    Moneyback refund     Recurring
Yandex     No             No                   Yes
Webmoney   No             Yes (time limit)     Yes
Qiwi       No             Yes (to wallet)      No
Mobile     Yes            Depends on carrier   Depends on carrier

                                                                    22
Russia – The gameplan
• Yandex , Webmoney & Qiwi = average increment of 40-50%
   – For ATV < USD 500
   – Travel = cards | Physical goods ► „see first then pay‟


• Setup local entity + tax passport


• Non-resident is possible, but:
   – Settlement up to 30 days
   – Not all local vendors/acquirers

• Use third party for FX and repatriation
   – RUB cannot be repatriated


                                                              23
India
“Waiting for the giant to awake”
India – The payers
• Online buyers situated
  in metropolitan areas



• 85% shoppers aged 15 – 35
   2015: 65% of population aged 15 - 35


                                                    India consumer trends research: Mint in cooperation with Komli
                                                    Media - 2009




• Mobile penetration (600 Mio vs. 81 Mio Desktop)




   Source: IAMAI: “Digital Commerce” – March 2011                                                             25
India – The playing field




• Logistics

• Two-factor authentication for CNP
    • Success rates declined
    • Since Feb 2011 also for mobile/IVR transactions


                                                        26
India – The players




   (Base: 7.5 million Active Internet Users who have made online purchases)

   Source: IAMAI: “Digital Commerce” – March 2011



                                                                              27
India – The players

                                                                 Market shares - IRCTC
Reserve Bank of India (RBI)
                                                                     Other
The star                                                             14,8%          Cards
                                                                                    24,5%
•   Indian banks via net banking                           Cash cards
      – ICICI, SBI, HDFC                                     16,9%

                                                                               Net

The contender                                                                banking
                                                                              43,8%
•   Mobile (Obopay, Paymate, mChek)
     – carrier billing, linking card or bank account
                                                       Source: IRCTC (Indian Railway) –
                                                       accounts for 25-30% of online payments in India




                                                                                                 28
India – Pick your team
             Digital      Physical     Travel
Cards        ++           +++          +++
Netbanking   +++          +++          +++
Cash cards   ++           ―            ――
Mobile       +++          +            +



             Reversible   Moneyback    Recurring
                          (refund)
Netbanking   Yes          Yes          Yes
Cash cards   No           Yes          No
Mobile       Yes          Depends on   Depends on
                          carrier      carrier

                                                    29
India – The gameplan
• Net banking, Cash cards and mobile = average increment 20%


• Mobile?


• Local entity (Direct connections or via PSP)


• Trust ► Checkout pages IRCTC (trusted)


• Use third party for FX and repatriation
   – INR repatriation very limited

                                                          30
China
Growing to the top
China – The payers

• Cash (COD) first and foremost                             # of shoppers paying online
                                               140                                         128
                                               120
                                               100                      94
• < 35 more prone to credit and                80




                                    Millions
  buying online                                60
                                               40
                                               20
                                                 0

• Group shopping (19M users)                                       December 2009               June 2010



                                                 Source: CNNIC “ Statistical Report on
                                                 Internet Development in China “ | July 2010

• Transaction limits per consumer

                                                                                                32
China – The players

   Cards              Banks   Alternatives




                                             33
China – The players



The stars
• China Union Pay (CUP)

• Alipay


The contenders
• Tenpay (part of Tencent)
• Mobile (202% YoY)
   303 M mobile internet users

                                 34
China – Pick your team
                Digital      Physical             Travel
Cards           +++          +++                  +++
Alipay          +++          ++                   ++
Tenpay          ++           ++                   ++
Mobile          +++          ―                    ―
Bank transfer   +            +                    +

                Reversible   Moneyback            Recurring
                             (refund)
Alipay          No           Yes (not realtime)   No
Tenpay          No           Yes                  No
Mobile          Yes          Carrier dependent    Carrier dependent
Bank transfer   No           Yes                  No
                                                                 35
China – The gameplan

• Alipay & Tenpay ► average increment of 30-40%

• Mobile?

• CNY repatriation not possible
   – Setting up entity in China cumbersome



• Taxes approximately 30%



                                                  36
Summary
Summary

• Markets and product functionality less mature

• Seek local tax and legal advice

• Adapt checkout process  capture necessary data

• Reporting requirements

• Website in local languages & customs

                                                  38
Summary




                                 vs.


Match your business with FOPs that support your needs
(e.g. pricing, refunds, recurring, delayed settlement)




Trust, transparency and clarity
                                                         39
Watch this space
Next Webinars



“Brazil in-depth”
             http://www.youtube.com/watch?v=lp8d0Pb6UY
By Daniel Belda 0
Product Manager
GlobalCollect


“Gaming in BRIC”
To be announced next
week




                                                         41
Perseverance



              http://www.youtube.com/watch?v=lp8d0Pb6UY
              0




  http://www.youtube.com/watch?v=lp8d0Pb6UY0
                                                          42

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GlobalCollect winning payment strategies for BRIC countries part1

  • 1. Payment strategies in BRIC Presented by: John Snoek John.snoek@globalcollect.com Product Manager GlobalCollect
  • 2. BRIC Webinar Program • BRIC program • Helicopter view • In-depth per country in next webinars 2
  • 3. Why? 3
  • 4. Why? GDP/capita Internet Country Population Growth (%) (USD) Users 203 Mio 10,900 7.5% 76 Mio 139 Mio 15,900 3.8% 60 Mio 1,189 Mio 3,400 8.3% 81 Mio 1,337 Mio 7,400 10.3% 457 Mio Source: CIA – The World Factbook | Internetworldstats.com 4
  • 5. Why? E-commerce volume in Billion USD 51,0 2009 E-commerce growth 2010 36,4 2008  2009 2009  2010 Brazil 39% 40% Russia 28% 35-38% India 30% 50% 8,9 6,2 6,7 4,9 China 39% 38-45% 2,3 3,5 Brazil Russia India China 5
  • 6. Central themes BRIC: Appealing but challenging Local alternatives up to 30% 6
  • 8. Similarities • Relatively closed economies | High E-com growth • Government/central banks dominant • E-com infrastructure less advanced • E-com barriers (e.g. legal, repatriation) • Higher fraud & chargeback rates (BRI) 8
  • 9. Differences E-readiness (EIU - 2010) Business Social and Legal Government Cons. & Bus. Country Overall score Connectivity environment cultural environment policy and vision Adoption Brazil 5.27 3.60 6.66 5.73 6.10 5.70 4.93 China 4.28 2.65 6.36 5.40 5.20 4.60 3.11 India 4.11 2.15 6.27 4.67 5.60 5.10 2.88 Russia 3.97 3.85 5.72 5.13 3.65 3.00 3.01 USA 8.41 7.35 7.85 9.00 8.70 9.25 8.60 Debt vs. savings Country GDP/capita (USD) Debt % Savings Credit cards Debit cards Inhabitants cc/capita dc/capita Brazil 10,900 35% 17% 191 233 194 0.98 1.20 Russia 15,900 13% 26% 10 119 141 0.07 0.84 India 3,400 12% 24% 24 130 1189 0.02 0.11 China 7,400 17% 47% 199 1800 1337 0.14 1.29 US 46,400 136% 7% 686 488 310 2.21 1.57 Sources: creditcards.com | CIA factbook | 9
  • 10. The playing field Setting up shop 1.  Conversion  Alternative payment  2. Local collection  Resident bank account 3.  Entity  Admin and operational cost 4. Type of entity determines how to repatriate and how it is taxed • Local regulation of various industries (e.g. telco, travel) 5. Logistics 10
  • 11. The playing field Taxes and repatriation • Tangible or intangible? • Customer = consumer or business? • VAT and withholding tax! Capture relevant data in checkout process Frequency of reporting and FX trade-off Operational impact + currency exposure vs. cash flow 11
  • 13. Brazil – The payers Country GDP/capita (USD) Debt % Savings Credit cards Debit cards Inhabitants cc/capita dc/capita Brazil 10.900 35% 17% 191 233 194 0,98 1,20 • Installments (“parcelas”) • Not everyone has a card or gets credit • Cash or cards • Relatively high # of chargebacks
  • 14. Brazil – The players Cards Banks Alternatives 14
  • 15. Brazil – The players Market share online payment methods The star • Boletos – Bank scheme Cards 60% – push payment using barcode (via online banking, bank branch, check or ATM) Boletos – No consumer charge 30% Bank The contenders Others transfer 5% 5% • Mercadopago & Dineromail Continuous high growth in last 3 years – Various funding sources • Débito Online – Real-time banking 15
  • 16. Brazil – Pick your team Payment methods Digital Physical Travel Cards +++ +++ +++ Boletos ++ ++ +/― eWallets ++ ++ ++ Bank transfer + + ++ Mobile + ― ― Reversible? Moneyback refund Recurring Boletos No (except when paid by check) No No eWallets No Yes No (being developed) Bank transfer No Yes No Mobile Yes Depends on carrier Depends on carrier 16
  • 17. Brazil – The gameplan • Local BT + eWallets + Boletos = avg.  of 25-35% • Your industry requirements (tax!) • Local entity | Capturing consumer data • Use third party for FX and repatriation – BRL cannot be repatriated 17
  • 18. Russia Cards are the alternative MRC 2010 Semi-Annual Platinum Meeting and 10th Anniversary Celebration Austin, TX | October 1
  • 19. Russia – The payers • Cash lovers – Distrusting banks (1998) • Prefer eWallets for online as cash substitute • Majority online purchases = digital • Travel up 500% • Many cards not enabled for online • Cross-border payments growing 19
  • 20. Russia – The players Cards Banks Alternatives 20
  • 21. Russia – The players The stars Which online payment method do you prefer? • Yandex (eWallet) 70% – #1 FOP | RUB only 45% 38% 2008 2009 • Webmoney (eWallet) 10% 12% 10% 8% 7% – #2 FOP | Multiple currencies (Webmoney Gold) Cash on E-money Credit card Bank transfer delivery Source: Romir – 2009 The contender • Qiwi (ATM cash-in/eWallet) – Largest network of ATM‟s – 80 Million users a month – Funding source for eWallets, VISA prepaid or direct payment 21
  • 22. Russia – Pick your team • Preferred payment methods Digital Physical Travel Yandex +++ +/― +/― Webmoney +++ +/― +/― Qiwi ++ ― ―― Cards + + ++ Mobile +++ ― ― Reversible? Moneyback refund Recurring Yandex No No Yes Webmoney No Yes (time limit) Yes Qiwi No Yes (to wallet) No Mobile Yes Depends on carrier Depends on carrier 22
  • 23. Russia – The gameplan • Yandex , Webmoney & Qiwi = average increment of 40-50% – For ATV < USD 500 – Travel = cards | Physical goods ► „see first then pay‟ • Setup local entity + tax passport • Non-resident is possible, but: – Settlement up to 30 days – Not all local vendors/acquirers • Use third party for FX and repatriation – RUB cannot be repatriated 23
  • 24. India “Waiting for the giant to awake”
  • 25. India – The payers • Online buyers situated in metropolitan areas • 85% shoppers aged 15 – 35 2015: 65% of population aged 15 - 35 India consumer trends research: Mint in cooperation with Komli Media - 2009 • Mobile penetration (600 Mio vs. 81 Mio Desktop) Source: IAMAI: “Digital Commerce” – March 2011 25
  • 26. India – The playing field • Logistics • Two-factor authentication for CNP • Success rates declined • Since Feb 2011 also for mobile/IVR transactions 26
  • 27. India – The players (Base: 7.5 million Active Internet Users who have made online purchases) Source: IAMAI: “Digital Commerce” – March 2011 27
  • 28. India – The players Market shares - IRCTC Reserve Bank of India (RBI) Other The star 14,8% Cards 24,5% • Indian banks via net banking Cash cards – ICICI, SBI, HDFC 16,9% Net The contender banking 43,8% • Mobile (Obopay, Paymate, mChek) – carrier billing, linking card or bank account Source: IRCTC (Indian Railway) – accounts for 25-30% of online payments in India 28
  • 29. India – Pick your team Digital Physical Travel Cards ++ +++ +++ Netbanking +++ +++ +++ Cash cards ++ ― ―― Mobile +++ + + Reversible Moneyback Recurring (refund) Netbanking Yes Yes Yes Cash cards No Yes No Mobile Yes Depends on Depends on carrier carrier 29
  • 30. India – The gameplan • Net banking, Cash cards and mobile = average increment 20% • Mobile? • Local entity (Direct connections or via PSP) • Trust ► Checkout pages IRCTC (trusted) • Use third party for FX and repatriation – INR repatriation very limited 30
  • 32. China – The payers • Cash (COD) first and foremost # of shoppers paying online 140 128 120 100 94 • < 35 more prone to credit and 80 Millions buying online 60 40 20 0 • Group shopping (19M users) December 2009 June 2010 Source: CNNIC “ Statistical Report on Internet Development in China “ | July 2010 • Transaction limits per consumer 32
  • 33. China – The players Cards Banks Alternatives 33
  • 34. China – The players The stars • China Union Pay (CUP) • Alipay The contenders • Tenpay (part of Tencent) • Mobile (202% YoY) 303 M mobile internet users 34
  • 35. China – Pick your team Digital Physical Travel Cards +++ +++ +++ Alipay +++ ++ ++ Tenpay ++ ++ ++ Mobile +++ ― ― Bank transfer + + + Reversible Moneyback Recurring (refund) Alipay No Yes (not realtime) No Tenpay No Yes No Mobile Yes Carrier dependent Carrier dependent Bank transfer No Yes No 35
  • 36. China – The gameplan • Alipay & Tenpay ► average increment of 30-40% • Mobile? • CNY repatriation not possible – Setting up entity in China cumbersome • Taxes approximately 30% 36
  • 38. Summary • Markets and product functionality less mature • Seek local tax and legal advice • Adapt checkout process  capture necessary data • Reporting requirements • Website in local languages & customs 38
  • 39. Summary vs. Match your business with FOPs that support your needs (e.g. pricing, refunds, recurring, delayed settlement) Trust, transparency and clarity 39
  • 41. Next Webinars “Brazil in-depth” http://www.youtube.com/watch?v=lp8d0Pb6UY By Daniel Belda 0 Product Manager GlobalCollect “Gaming in BRIC” To be announced next week 41
  • 42. Perseverance http://www.youtube.com/watch?v=lp8d0Pb6UY 0 http://www.youtube.com/watch?v=lp8d0Pb6UY0 42