Comments on: The $70 Million Obopay Deal Is More About The UnBanked Than The Banked http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/ Startup and Technology News Thu, 26 Nov 2009 17:43:31 -0800 hourly 1 By: The Far Edge » Blog Archive » Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2952191 The Far Edge » Blog Archive » Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform Thu, 27 Aug 2009 20:21:01 +0000 http://www.techcrunch.com/?p=52324#comment-2952191 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Nokia'da Mobil Ödeme İşine Giriyor! | Webrazzi http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2951581 Nokia'da Mobil Ödeme İşine Giriyor! | Webrazzi Thu, 27 Aug 2009 12:31:18 +0000 http://www.techcrunch.com/?p=52324#comment-2951581 [...] Sistem geçen Mart ayında Nokia ve birkaç farklı yatırımcının katılımıyla $70 milyon yatırım alan Obopay şirketi üzerinden [...] [...] Sistem geçen Mart ayında Nokia ve birkaç farklı yatırımcının katılımıyla $70 milyon yatırım alan Obopay şirketi üzerinden [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Newsfed - Aggregate local and tech stories with related videos and tweets! http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2951067 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Newsfed - Aggregate local and tech stories with related videos and tweets! Thu, 27 Aug 2009 05:01:42 +0000 http://www.techcrunch.com/?p=52324#comment-2951067 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Geek News and Musings http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2951065 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Geek News and Musings Thu, 27 Aug 2009 05:00:23 +0000 http://www.techcrunch.com/?p=52324#comment-2951065 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Stoth http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2951009 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Stoth Thu, 27 Aug 2009 04:00:33 +0000 http://www.techcrunch.com/?p=52324#comment-2951009 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Cellphone Ultra http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2950916 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Cellphone Ultra Thu, 27 Aug 2009 03:12:18 +0000 http://www.techcrunch.com/?p=52324#comment-2950916 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for that [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for that [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Techdare http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2950915 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform | Techdare Thu, 27 Aug 2009 03:12:17 +0000 http://www.techcrunch.com/?p=52324#comment-2950915 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2950905 Nokia Eyes Emerging Markets With Obopay-Powered Payment Platform Thu, 27 Aug 2009 03:02:50 +0000 http://www.techcrunch.com/?p=52324#comment-2950905 [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...] [...] we wrote when news broke of Obopay’s $70 million funding round (of which Nokia was a major participant in), one of the biggest markets for this [...]

]]> By: Andy http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2738114 Andy Fri, 08 May 2009 22:09:00 +0000 http://www.techcrunch.com/?p=52324#comment-2738114 There is a difference between mobile banking and mobile payments. The Mobile banking market is predominantly a convenience and cust service play for banks with little opportunity for revenue generation. This market is being addressed by startups like firethorn and clairmail. The mobile payments market is where the revenue opportunity is (from transactions). And clearly the opportunity is very big in emerging countries. The mobile payments market has a number of regional players like paybox in europe, wizzit and mpesa in africa, and paymate and mcheck in india. Obopay today does not have service or traction in any of these high growth markets.... There is a difference between mobile banking and mobile payments. The Mobile banking market is predominantly a convenience and cust service play for banks with little opportunity for revenue generation. This market is being addressed by startups like firethorn and clairmail. The mobile payments market is where the revenue opportunity is (from transactions). And clearly the opportunity is very big in emerging countries. The mobile payments market has a number of regional players like paybox in europe, wizzit and mpesa in africa, and paymate and mcheck in india. Obopay today does not have service or traction in any of these high growth markets….

]]> By: Bill Jones http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2691050 Bill Jones Thu, 09 Apr 2009 06:13:12 +0000 http://www.techcrunch.com/?p=52324#comment-2691050 As someone who has been tracking Obopay for a long time, I fail to even understand why anyone is investing in an independent company such as Obopay for mobile banking. There are more than enough larger banks who have offerings which are vastly superior and can easily crush them. Even Nokia could take that investment and build their own solution blowing Obopay out of the water. I guess the only reason why they are investing so heavily is because of the CEO who is without a doubt one of the best rainmakers I have ever seen. However, if you notice, they have lost a lot of headcount over the past year or so and don't seem to be getting anyone of worth to fill those seats. As someone who has been tracking Obopay for a long time, I fail to even understand why anyone is investing in an independent company such as Obopay for mobile banking.

There are more than enough larger banks who have offerings which are vastly superior and can easily crush them. Even Nokia could take that investment and build their own solution blowing Obopay out of the water.

I guess the only reason why they are investing so heavily is because of the CEO who is without a doubt one of the best rainmakers I have ever seen.

However, if you notice, they have lost a lot of headcount over the past year or so and don’t seem to be getting anyone of worth to fill those seats.

]]> By: kimbjo http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2684914 kimbjo Sat, 04 Apr 2009 18:13:59 +0000 http://www.techcrunch.com/?p=52324#comment-2684914 "Despite Obopay’s two-pronged strategy, if mobile payments do take hold, I’d expect them to be more popular among the unbanked outside the U.S. Most people in richer nations already have an abundance of payment options available to them," Oh really? And which richer nations is that? france? italia? uk? do your research.... “Despite Obopay’s two-pronged strategy, if mobile payments do take hold, I’d expect them to be more popular among the unbanked outside the U.S. Most people in richer nations already have an abundance of payment options available to them,”

Oh really? And which richer nations is that? france? italia? uk? do your research….

]]> By: Obopay scores $70M from Nokia for mobile payments » VentureBeat http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2680230 Obopay scores $70M from Nokia for mobile payments » VentureBeat Wed, 01 Apr 2009 19:44:40 +0000 http://www.techcrunch.com/?p=52324#comment-2680230 [...] money came from Nokia, as most people reported. There were other undisclosed investors involved. TechCrunch suggests that several of Obopay's old-faithful firms also chipped in, including Qualcomm, Redpoint Ventures, [...] [...] money came from Nokia, as most people reported. There were other undisclosed investors involved. TechCrunch suggests that several of Obopay’s old-faithful firms also chipped in, including Qualcomm, Redpoint Ventures, [...]

]]> By: mCommerce: the future of payments | Idea Farm http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2676613 mCommerce: the future of payments | Idea Farm Mon, 30 Mar 2009 17:12:02 +0000 http://www.techcrunch.com/?p=52324#comment-2676613 [...] a mobile payment company, recently raised an additional $70MM in funding. Yep, that’s a lot of money, and that is on top of the nearly $70MM they had raised to date. [...] [...] a mobile payment company, recently raised an additional $70MM in funding. Yep, that’s a lot of money, and that is on top of the nearly $70MM they had raised to date. [...]

]]> By: Engago team http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2676319 Engago team Mon, 30 Mar 2009 10:39:27 +0000 http://www.techcrunch.com/?p=52324#comment-2676319 There are many security issues with mobile payments. The SIM card could have been a good environment but it is owned by the operators. The MicroSD card with a microprocessor is a feasible solution as it is too a secure environment. Advantage: physical deployment by distributing the MicroSD card - thus no downloads or Over The Air problems. There are many security issues with mobile payments.
The SIM card could have been a good environment but it is owned by the operators.
The MicroSD card with a microprocessor is a feasible solution as it is too a secure environment.

Advantage: physical deployment by distributing the MicroSD card – thus no downloads or Over The Air problems.

]]> By: Bharat http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2676231 Bharat Mon, 30 Mar 2009 07:32:57 +0000 http://www.techcrunch.com/?p=52324#comment-2676231 Hi good luck for ur venture its surely has a great potential in India and elsewhere too. Much would depend upon the product you develop on this concept and identifying right collaborations. I would like to mention here tht this concept was my dream project, an idea i nurtured into product concept in year 2000 but in India its not easy to get funds. Without seed money it never took off but im quite sure whoever does it right can change the economy works in our times. - Bharat Sharma Hi good luck for ur venture its surely has a great potential in India and elsewhere too. Much would depend upon the product you develop on this concept and identifying right collaborations.
I would like to mention here tht this concept was my dream project, an idea i nurtured into product concept in year 2000 but in India its not easy to get funds. Without seed money it never took off but im quite sure whoever does it right can change the economy works in our times.

- Bharat Sharma

]]> By: dollars http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2676128 dollars Mon, 30 Mar 2009 03:37:48 +0000 http://www.techcrunch.com/?p=52324#comment-2676128 Holy smokes....$140MM total raised by a company I've never heard of. The 'unbanked' is an interesting group that I've not considered before. Holy smokes….$140MM total raised by a company I’ve never heard of.
The ‘unbanked’ is an interesting group that I’ve not considered before.

]]> By: <fb:name linked="false" useyou="false" uid="9301328">Jonathan Shapiro</fb:name> http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2675956 Jonathan Shapiro Sun, 29 Mar 2009 21:56:35 +0000 http://www.techcrunch.com/?p=52324#comment-2675956 trying this out... trying this out…

]]> By: Payments With Your Mobile and How That Would Rock - Techgeist http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2675337 Payments With Your Mobile and How That Would Rock - Techgeist Sun, 29 Mar 2009 00:56:45 +0000 http://www.techcrunch.com/?p=52324#comment-2675337 [...] original story via TechCrunch Tags: mobile payments, mobile tech, [...] [...] original story via TechCrunch Tags: mobile payments, mobile tech, [...]

]]> By: http://macmaniapodcast.com http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674948 http://macmaniapodcast.com Sat, 28 Mar 2009 14:58:24 +0000 http://www.techcrunch.com/?p=52324#comment-2674948 Very well-written post!!! Please check out my site as well at http://macmaniapodcast.com Very well-written post!!! Please check out my site as well at http://macmaniapodcast.com

]]> By: endurablegoods http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674672 endurablegoods Sat, 28 Mar 2009 06:33:30 +0000 http://www.techcrunch.com/?p=52324#comment-2674672 I was a member of the core launch team of an Obopay-like operation based in Boulder, Colorado named Mocapay. We had an SMS-based system of payment at a few hundred point-of-sales around town and in Cincinnati, Ohio. Mostly sub shops, pizza joints, smaller local retailers but also a couple national names. (They have since re-grouped as a mobile gift card company.) From my direct experience, mobile payments are far too complicated for most people to take the time to figure out. It's not the technology doesn't work. It works great under controlled conditions. But when you include two hard-to-manage ingredients - a mobile user and a point-of-sale clerk, you get an unacceptable myriad of drop points and weak links. Basically, companies like Obopay should be focusing more on the human element - the face-to-face interaction between users. If the first, second or third experience is a bad one, both merchant and user will be hesitant to try it again. Both consumer and merchant need extensive (and expensive) training to make it work within acceptable parameters. All the great partnerships in the world won't overcome a bad user experience at the height of lunch rush. I was a member of the core launch team of an Obopay-like operation based in Boulder, Colorado named Mocapay. We had an SMS-based system of payment at a few hundred point-of-sales around town and in Cincinnati, Ohio. Mostly sub shops, pizza joints, smaller local retailers but also a couple national names. (They have since re-grouped as a mobile gift card company.)

From my direct experience, mobile payments are far too complicated for most people to take the time to figure out.

It’s not the technology doesn’t work. It works great under controlled conditions. But when you include two hard-to-manage ingredients – a mobile user and a point-of-sale clerk, you get an unacceptable myriad of drop points and weak links.

Basically, companies like Obopay should be focusing more on the human element – the face-to-face interaction between users. If the first, second or third experience is a bad one, both merchant and user will be hesitant to try it again. Both consumer and merchant need extensive (and expensive) training to make it work within acceptable parameters.

All the great partnerships in the world won’t overcome a bad user experience at the height of lunch rush.

]]> By: Andy http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674647 Andy Sat, 28 Mar 2009 05:51:51 +0000 http://www.techcrunch.com/?p=52324#comment-2674647 The interesting thing about Obopay is that they seem to have raised the latest round not on past performance in the US market (where they have been operating for the past 3-4 years) but on future potential in the emerging markets like India, South East Asia, and Africa. Question is - how will the Obopay solution adapt to the needs of extremely price sensitive customers in emerging markets and more importantly, how will the Obopay solution differ from the local offerings in these emerging markets. They have only recently launched their service in India, a market which already has many entrenched players like mcheck and Paymate India. The interesting thing about Obopay is that they seem to have raised the latest round not on past performance in the US market (where they have been operating for the past 3-4 years) but on future potential in the emerging markets like India, South East Asia, and Africa. Question is – how will the Obopay solution adapt to the needs of extremely price sensitive customers in emerging markets and more importantly, how will the Obopay solution differ from the local offerings in these emerging markets. They have only recently launched their service in India, a market which already has many entrenched players like mcheck and Paymate India.

]]> By: George http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674424 George Sat, 28 Mar 2009 01:37:57 +0000 http://www.techcrunch.com/?p=52324#comment-2674424 My friend Flint who is an enthusiastic guy has developed a site called http://money-making-system.synthasite.com which has information about sites where you could make money and you could get his advise on them. My friend Flint who is an enthusiastic guy has developed a site called http://money-ma....synthasite.com which has information about sites where you could make money and you could get his advise on them.

]]> By: Gian Carlo Martinelli http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674330 Gian Carlo Martinelli Sat, 28 Mar 2009 00:26:22 +0000 http://www.techcrunch.com/?p=52324#comment-2674330 That's www.paggo.com.br, actually... That’s http://www.paggo.com.br, actually…

]]> By: Obopay、$70Mを追加調達。口座非保有者の多い国でのサービス拡大にチャンスあり http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674327 Obopay、$70Mを追加調達。口座非保有者の多い国でのサービス拡大にチャンスあり Sat, 28 Mar 2009 00:23:46 +0000 http://www.techcrunch.com/?p=52324#comment-2674327 [...] ［原文へ］ [...] [...] ［原文へ］ [...]

]]> By: Gian Carlo Martinelli http://www.techcrunch.com/2009/03/27/the-70-million-obopay-deal-is-more-about-the-unbanked-than-the-banked/comment-page-1/#comment-2674324 Gian Carlo Martinelli Sat, 28 Mar 2009 00:17:56 +0000 http://www.techcrunch.com/?p=52324#comment-2674324 In Brazil there's a similar service called Paggo (www.paggo.com). In Brazil there’s a similar service called Paggo (www.paggo.com).

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