Paymaster App is a growing fintech in Sri lanka and it is a fully owned subsidiary of Firstpay Pte Ltd. Showing promising growth this fintech is looking at changing the way average sri lankans approach mobile recharge and other routine payments

1. PROPRIETARY AND CONFIDENTIAL

2. Market Overview
TOTAL
POPULATION
MOBILE
CONNECTIONS
WEB TRAFFIC ON
MOBILES
MOBILE BASED
PAYMENTS
MAKES ONLINE
PURCHASES
20.91Mn 27.38Mn
vs. POPULATION 131%
76%
(Up 5% YOY)
0.1% 2%
HAVE A PAYMENT
INSTRUMENT
NUMBER OF
HOUSEHOLDS
AVG. MONTHLY
SPEND ON
UTILITIES
OTHER PAYMENTS
87% 5.2Mn 70 USD 120 – 250 USD
SOURCE DEPARTMENT OF CENSUS & STATISTICS/ HOOTSUIT SOCIAL MEDIA REPORT ASIA

3. Payment Instrument – Penetration
NO. OF CREDIT
CARDS
NO. OF DEBIT
CARDS
NO. OF BANK
ACCOUNTS
NO. OF MOBILE
MONEY
OPERATORS
1.5Mn 21Mn 18.1Mn 2
SOURCE CENTRAL BANK SRI LANKA – PAYMENTS BULLETIN 2Q2018
VOLUME OF
CREDIT CARD
TRANSACTIONS
VOLUME OF DEBIT
CARD
TRANSACTIONS
351Mn 232Mn
(US$ Q2 18’)
(US$ Q2 18’)
(@ Q2 18’)
(@ Q2 18’)

4. ORG P2P
UTILITIES RELOADS SPEND PATTERN GIFT QR CASHBACK
TYPE CHANNEL
HNB BANK IB
SAMPATH BANK APP
FRIMI FINTECH APP
UPAY FINTECH APP
IPAY FINTEC APP
DIRECTPAY FINTECH APP
PAYNGO FINTECH KIOSKS
PAYMASTER FINTECH APP
IB Internet Banking KIOSKS Hardware device
SOURCE CORPORATE SITES/ GOOGLE PLAY
Competitive landscape
Below is a comparison of the current offerings based on payment products.

5. Current usage
Comparison of User count against age of the products
SOURCE SIMILARWEB.COM / GOOGLE PLAY
ORG AGE USER COUNT GIFT QR CASHBACK
TYPE CHANNEL
HNB 14 YEARS 200,000+
BANK IB
SAMPATH 12 MONTHS 10,000+
BANK APP
FRIMI 12 MONTHS 50,000+
FINTECH APP
UPAY 12 MONTHS 10,000+
FINTECH APP
IPAY 12 MONTHS 1,000+
FINTEC APP
DIRECTPAY 12 MONTHS 100+
FINTECH APP
PAYNGO 3 YEARS 300 Machines
FINTECH KIOSKS
PAYMASTER 2 MONTHS 37,500+
FINTECH APP
IB Internet Banking KIOSKS Hardware device

6. Why now for Sri Lanka
Right time to enter the market
Sri Lankans are newly
experiencing the benefits of
digitalization with many individuals
being eager to ride the upward
curve
Blue ocean on payments
Normal business models have
reached saturation and digital
payments are still at infancy in
the local context
Competitors are in disarray
Banks and NBFIs are not
innovating fast enough to
capitalize on this demand.
Fintechs in the payment space
lack vision and are still trying to
own a single segment of a
broader spectrum
Regulatory support
Unlike for banks, which are
heavily regulated, Fintechs are
given the freedom to develop
products. The government
regulator is urging the
embracement of digitalization by
Fintechs to accelerate change

7. Product verticals
Retail Version Merchant z Version Platform Integration
Aimed at the average Smartphone
users who are looking at
convenience and superior service
Targeting the customers who are
not tech savvy and still prefer to
use the conventional mode.
Focused towards services and
platforms looking to provide
additional services on their
interfaces

8. Retail
A platform that provides a convenient and secure path to initiate payments via a mobile app
What is PayMaster
Mobile Electricity Water Telephone Gift Train & Flight ticketing
Health services Charity Government Insurance Banks
TV Toll QR Split n pay Spend Analytics
LIFESTYLE
PERSONAL FINANCIAL SERVICES
Movies
UTILITY & PERSONAL PAYMENTS
Insurance

9. Business model
Anytime, Any place
Any Android or Apple
phone can access the
services offered at
anytime from anywhere
One stop shop
Utilities, lifestyle &
e-commerce under one
location with end to end
service fulfilment
Secure and reliable
Data is made secure via
the latest technology and
services provided by world
class data centers
Easy and Fun
Making payments will not
feel like a drag, its fun
because it’s a race to be
the best and win gifts
IDEATION AND BETA
INITIAL RELEASE V1.0
JUN 2018
37,500 DOWNLOADS
AUG 2018
RELEASE V2.0
SEPT 2018 – SEED INVESTMENT
RELEASE V3.0
SEPT 2019
READY FOR SERIES A
MAR 2020
PHASE 1
PHASE 2
FUTURE
Remittances Cards Insurance
Mobile
Pre paid mobile reloads
Only

10. Where do we fit in your day
HAPPY SAD FRUSTRATED LAZY CHARITABLE FEAR
WHEN YOU
ARE FEELING
Received your salary
and you can pay your
bills and send money to
your loved ones
Your thrilled your friends
are giving you gifts
When you need to
share some great news
You missed a long
awaited call from your
husband working abroad
and haven’t got sufficient
credit to call back
You forgot to send your
friend a gift on her
birthday or wedding
A parent is ill and you
need to book a doctor’s
appointment
Forgot to pay the
monthly electricity bill
Son/Daughter just ran
out of credit on their
mobile and you
desperately need to
contact them
An important meeting is
in progress and you are
running late to grab last
minute tickets to the
movie that your wife
wanted to see on your
anniversary
You want to pay your
colleague for the lunch
he/she bought you, but
don’t have cash in hand
Its raining outside and
you just can’t be
bothered to go out and
get wet
Mother asked you to pay
the bill, but you have a
“Call of Duty” game with
friends in 10 Mins
Wife wants you to get
her a reload, but you are
already in bed and you
are sleepy
The ATM is 500m away
and you don’t want to
walk all that way to get
cash to repay your friend
You saw a video on
Facebook and want to
contribute to a good
cause
It’s your nephew’s
birthday and you want to
send him a small gift
You are running low on
credit and your family is
worried
Forgot to pay for the
utilities and tomorrow is
the last day before
penalties set in
You are getting chest
pains and need to make
an appointment with a
specialist cardiologist
ANY TIME & ANY WHERE

11. Merchant
Single Wallet
Shop and Kiosk owners can
now use a single wallet
balance to consume any
Telco top up service. Freeing
them from managing
multiple stocks
Daily recurring
charges
Unlike to competitor models
involving a upfront down
payment on hardware
devices, App works on a daily
charging model based on the
usage.
Cash based
operating model
No credit operation and
Merchants can choose to pre
buy according to their need.
Online and automated
PLANNED GROWTH STRATEGIES
Gamification of Merchants Regional Business Development Utility Payments

12. Platform Integration
Ongoing Partnerships
Nanosoft is the a software solutions provider for a SME/Micro bank
with 75 Branches in rural areas. They have partnered with
PayMaster to facilitate the Mobile Top-ups and Utility Payments
(Phase 2)
Helakuru is a Sri Lankan Keyboard utility app with 5Mn
downloads. While trying to provide more features they have
partnered with PayMaster to facilitate Mobile Top-ups
Single API for Any Top up
Single Wallet for Any Telco
Prefunded model based on Cash
Value added services
Simple API integration with built in validations to handle most of the generic issues. Making it easy for any developer to quickly
develop the connectivity and go to market
Single balance can be utilized by respective platform based on the respective users needs.
Automated alerts to manage funds, threshold management and even complaint management
Platforms can prefund based on the need and manage the float according to the behavior of the system
Revenue generation
Revenue share based on the volume and processing power. Commissions are credited based on a monthly performance
model

13. Unit economics
OUTFLOW INFLOW
Cost to Acquire a Customer (CAC)
Social Media Costs
Direct on-boarding Costs
FB PPV ( Pay Per View)
FB PPC ( Pay per Click)
US$ 0.0027
US$ 0.09
US$ 0.02
Net Profit - Payments
US$ 40,000 (Y1)
US$ 192,000 (Y2)
US$ 605,000 (Y3)
No(s) Active Customers
196,000 (Y1)
336,000 (Y2)
483,000 (Y3)
No(s) Payments
1,785,000 (Y1)
7,989,000 (Y2)
19,927,000 (Y3)
Note: Per Customer per month assumption
2 -3 Mobile recharges
1 Utility payment

14. Investment overview
Initial investment from founders
Total Cash requirement
Corporate Expenses
US$ 30K
US$ 140K (30%)
Recurring Operational expenses US$ 54K (12%)
US$ 460K
Marketing and Business development US$ 260K (57%)
Capital Payback 31 Months
Note: Per Customer per month assumption
2 -3 Mobile recharges
1 Utility payment
Net Profit - Payments
US$ 40,000 (Y1)
US$ 192,000 (Y2)
US$ 605,000 (Y3)
No(s) Active Customers
196,000 (Y1)
336,000 (Y2)
483,000 (Y3)
No(s) Payments
1,785,000 (Y1)
7,989,000 (Y2)
19,927,000 (Y3)
Raised amount US$ 260K

15. Benchmark with India
PayTM is the market leader on Digital payments
Grown to $20 billion annualized gross transaction value (4x since 2017/03)
Backed by Alibaba & Softbank
57x larger than Sri Lanka in population
Only 2% are on Digital payments
Warren Buffett's Berkshire Hathaway investment has pushed valuation to USD 10Bn
SOURCE economictimes.indiatimes.com / www.indexmundi.com / DIGITAL IN 2018 IN SOUTHERN ASIA Hootsuite /www.businesstoday.in

16. Team
LASITHA RANAWEERA
Designer by passion. With 10
years experience in Banking
with Digital Banking,
Payments, ATMs , Product
Design, Implementation,
Branding & Execution. Holds a
BSc (Hons) Information
Technology from Middlesex
University (UK)
RANSIKA DE SILVA
Entrepreneur and Developer.
Holds 16 years of experience in
IOS/Android application
development along with
enterprise back ends. A highly
technical individual with a BSc
(Hons) Information
Systems from Manchester
Metropolitan University (UK)
Co – Founder / Director
Co – Founder / Director
NIMANTHI DISSANAYAKE
12 years of experience in
Backend / Android / iOS
MBA - University of Leicester,
(UK), BSc Computing and
Information Systems,
University of London, (UK)
Operations / Project Manager
Sachinthana Aluvihare
IOS / Android / Backend
BSc. IT, specialized in
Interactive Multimedia
Senior developer
Heshan Brandy
IOS / Android
BSc. IT, specialized in
Interactive Multimedia
Senior developer
Kelvin Teo
Co-Founder of Funding
Societies | Modalku based out
of Singapore with Masters in
Business Administration from
Harvard Business School
Advisor
EXECUTIVE TEAM TECH TEAM ADVISORS
Mao Ching Foo
CTO of Funding Societies –
Modalku based out of
Singapore with a MSc (MS&E)
from Stanford University
Director

17. Regional Aspirations
INDIA
PAKISTAN
BANGLADESH
NEPAL
MYANMAR
Population
Combined population of
1.7Bn is present in the
selected 5 geographies
Mobile Penetration
India counts for the
largest user base with
844Mn followed by others
with 100%+ penetration
Mobile Based Payments
Payment landscape has
much to catch up with
India leading with 20%
Mobile Internet
Closely resembles the
social media stats and
growing fast

18. Planned growth strategies
Tuk-tuks & Kiosks
In-ride payment facilitation takes
convenience to a new level.
Partnering with local startups.
Cash back for the drivers who
facilitate payments on PayMaster
App.
Small Kiosks who need to
increase the product offering will
also be approached.
Tourists & Ex-Pats
Sri Lanka is a tourist hot spot
with many young backpackers
always on the lookout for deals,
discounts and connectivity. 3Mn
visitors are expected by EOY
2018. Everyone is carrying a
local SIM and has payment
needs.
Sri Lankans living overseas
Large pockets of Sri Lankans in
Canada / Australia / Korea / the
Middle East / UK / USA & Russia
have monthly commitments for
which they don’t have a solution
at their fingertips and depend of
costly cross border transactions
to local accounts.
Super App
Community of users who not only
come to make payments but to
connect and form relationships
and network. Selecting where
you fit in your digital life and seek
like-minded individuals on
services like Chat / Social and
Games.

19. Our North Star
200,000 PAYMENTS
PROCESSED A MONTH
WHAT CUSTOMER SEE
& EXPERIENCE
WHAT HAPPENS BENEATH
100% SATISFACTION
SIMPLE UI / UX
24*7*365 AVAILABILITY
REMINDERS AND NOTIFICATIONS
CONVENIENCE & RELIABILITY
CASH BACK AND SAVINGS
CUSTOMER PROFILING
ADAPTIVE SECURITY
ANALYTICS & PREDICTIONS
AUTOMATION
BPR & INNOVATION
INCREASING TRUST IN
DIGITAL PAYMENTS
ADOPTING A NEW
WAY OF LIFE

20. Thank you
Ransika De Silva
ransika@paymasterapp.com
Lasitha Ranaweera
lasitha@paymasterapp.com
PROPRIETARY AND CONFIDENTIAL