BANGLALINK E-TYAKA (-)

Cell phone based daily monetary transaction for the mass

BACKGROUND

Now-a-days we think cell phones are beyond to be considered as communication devices only. Bangladesh has seen how successfully cell phones and mobile networks can be used to provide significant portion of the subscribers with financial services.

In order to take that a step ahead, we are coming up with a service that can benefit all of us in our daily life in a number of ways.
Banglalink e-Tyaka (-) is the service that has the potential to bring in some fun in the way we shell out money on a daily basis. The sole aim of this application is to come out of the traditional buying and selling method and let both the consumers and sellers have more efficiency in the business.

IDEA: BANGLALINK E-TYAKA (-)

This application will be at the disposal of both the consumers and sellers. Banglalink e-Tyaka (-) will be of immense help for those subscribers who are devoid of any debit card facility. There will be no need of carrying cash if the subscriber has a cell phone with internet connectivity and the application. Both consumers and shopkeepers need not worry about theft, loss of money due to carelessness or even keeping changes at all as all of them are actually engaged in a cashless transaction. Even if your cell phone is lost, your account and money is safe as they are protected by a PIN (only you know the PIN) and your phone number (you can block your number). This service will enable shopkeepers to easily cash in from bKash agents, Banks or Banglalink Points across the country. One entire transaction is just a few clicks away that anyone with basic mobile internet surfing capabilities are able to perform. The subscriber will have the option to choose preferred language.

FEATURES
Category Features Account Available services
Balance recharge or top-up Transfer existing balance for any other VAS Balance information or report (purchase history)

Consumer

Payment
Search/ Browse Account

Transfer to any other subscriber (consumer) of the service Payment for daily expenditure e.g. grocery, stationary etc.
Browse/ search various nearby vendors of different goods and view or give ratings to those vendors Transaction or receipt report. Input update for his/her description about shops or items (generic item)

Vendor

Receipt

Generate receipt for customer and keep track of those (Pending or paid)

NUMBER OF PEOPLE TO BE BENEFITTED

Components
Size of Target Group

Our Assumptions
Vendor: 50000 Consumer: Existing subscribers of Banglalink and other operators

Remarks
Estimation of the size of subscriber base. This service should allure users from other operators as well.

Internet usage behavior of the target group

Users have strong inclination toward online payment for day to day monetary transactions

Todays consumers and vendors are concerned about safety and efficiency of daily transactions

Relevance of applicant to target group

Highly relevant

Through this service consumers and vendors will be benefitted by a cashless and quicker method of transaction.

SERVICE MODALITY
Subscription
Visit the prescribed website to subscribe Download the app and register or go to login/ registration page to register. Charges apply Verification of the subscribers for authentication

Upon authentication notification to the subscriber and account generation

Recharge account (prepaid cards/ topup) to start the service

Service

Visit the app page

Payment

After login select payment option and go to the next page

Input Receivers A/c no., amount and transaction PIN.

After sending receive transfer confirmation ID or token no.

View Account

After login select View Report to get info on completed transactions or pending payment details

To recharge, select Recharge by Prepaid Card

SERVICE MODALITY (SUMMARY)

Subscription
Subscribers visit the prescribed website to choose preferred subscription scheme and provide necessary credentials.

Consumers
Consumers can pay, view and reload their accounts on their portals. For simplicitys sake, it might look like the interface of an ATM unit. So consumers functions are limited to two forms only: Payment and View Reports.

Vendors
Vendors can do everything that a consumer can do including viewing his sales transactions (received or due). Vendors can generate receipt tokens for their consumers. To cash in, vendors might visit suggested bKash agents, Banglalink Points or banks.

Database
All the above steps will be recorded into a database for security reasons.

TECHNICAL FEASIBILITY
Components
Connectivity with servers

Details
This Service can be deployed in a single central server or distributed server or even in cloud environment.

Feasibility
Linux or windows based servers are quite easy to set up and also cloud technology is becoming global solution wherein overall hardware and maintenance cost does matter. Internet usage bill: This service will be bound by internet. Hence, internet usage bill is obvious and most of the cell phones today have minimum GPRS connectivity, in fact many of them already have 3G capability. Monthly subscription: to use this service the subscriber can pay monthly charge or commission based on transactions. Vendors might be charged differently for maintaining receipt and business information.

Billing Configuration

This service can be used by subscribing Banglalink internet. For using this app and service three types of bills will be generated:

Internet usage bill Consumer service charge Vendor service charge

TECHNICAL FEASIBILITY
Components
Database Management

Details
Database is an integral part of this service. Vendors' information is required to be searched and found by consumers. Also, consumers and vendors need to check previous transactions. All these can not be possible without database. This application can be deployed as both mobile web application and direct application.

Feasibility
Banglalink has its own database to maintain customer information. The same can be connected to this new database to convert a customer to a subscriber. So this is a very

feasible solution.
This software can be developed by PhoneGap (Apache Cordova) so that it can be downloaded and run on 7 different Mobile OSs: IOS Android Blackberry Windows Phone Plam WebOS Bada Symbian If the user does not have any of these, it is possible to create an HTML5 responsive web app for the phone.

Operating system

COMMERCIAL FEASIBILITY
Details
Number of Subscriber Yearly Revenue from Subscription Fee Yearly Revenue from Internet Usage Total Revenue

Year-1
Vendor: Consumer: 1,000 12,000

Year-2
Vendor: Consumer: 5,000 25,000

Year-3
Vendor: Consumer: 10,000 40,000

Vendor: 2,400,000 Consumer: 1,200,000 1,560,000 5,160,000

Vendor: 12,000,000 Consumer: 3,000,000 3,600,000 18,600,000

Vendor: 24,000,000 Consumer: 4,800,000 6,000,000 34,800,000

Idea Cost
Application Development Cost Communication Cost Yearly Maintenance Cost Total Yearly Cost

200,000
3,000,000 2,000,000 2,000,000 7,200,000

___
___ 1,500,000 2,000,000 5,500,000

___
___ 1,000,000 2,000,000 3,000,000

Net Profit

(2,040,000)

15,100,000

31,800,000

N.B. Base currency is BDT. Hypothetical figures are considered here for calculation.

COMMERCIAL FEASIBILITY
Assumptions
Subscription fees
Consumers: Tk. 10 per month Vendors: 1% per transaction. (Minimum transaction of Tk. 20,000 per month through this service expected) Tk. 10 per month

Monthly internet usage fee

Every year number of customer is supposed to grow exponentially. While estimating the Yearly Maintenance Cost, we take tie-ups with bKash, banks and other financial institutions (if required) into our consideration.

We eye on the advent of 3G. This will surely have a positive impact on the increase of subscribers for this service. Faster, easier and more secured transactions, along with word of mouth and promotional activities, will influence more subscribers to use this service more. As a result, our estimation leads us to the breakeven within just two years.

CONCLUSION
We believe this app would create a lot of buzz as this is a smart app, which the subscribers in general would get to use for the first time in Bangladesh. The service will not only be limited to the extent we have just mentioned. Many other ancillary services can be added in order to meet customer demand and add value. Last but not least, Banglalink e-Tyaka (-) will be a fashion among the people from all walks of life if sufficient attention is given to promote this service among the mass.

THANK YOU VERY MUCH!