fortumo: how to process payments from 318 mobile operators
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How to Keep Calm and Process Payments from 318 Mobile
Operators in 61 Currencies?!
Andrei Dementjev!
2013
Fortumo!2
- Founded in 2007!
- Live in 74 countries!
- Payments via prepaid or postpaid mobile
account!
- Eliminates the need to connect directly to
operator!
Business Model!3
End-user spends 1.00 EUR on golden
coins
Operator deducts his commission (15-40%)
and transfers remaining amount to
Fortumo Fortumo deducts commission (2-5%) and pays to game
owner
Challenges with Mobile Money!4
- Working with foreign currencies!- Accounts Receivable (DEBTS) !
- International taxation !- Limitless bureaucracy!
- International payouts!
1. Foreign Currencies!5
- 62 currencies = 62 exchange rates!- Solution: OANDA!
- BYR, VND or VEF exchange rates?!- Solution: black market rates!
- Changes and anomalies:!- LVL -> EUR!- Romania: EUR instead
of RON!
2. Getting the Money!6
- up to 6 month delay (usually 2-3)!- 318 supported operators:!Expectation: ! ! !Reality:!
!
!
!
!!
Solution: Fortumo Inkasso!
3. International taxation!7
- Up to 15-20% withholding tax!- 20 VAT changes per year, shortest announcement: 4
days!
- Telecommunications tax in Turkey: !- Play on PC: 0%!- Play on smartphone: 25%!
4. Endless bureaucracy!8
- This is how our Fortumo Finance team looks before the payout:!
5. Payouts to Merchants!9
- No single payment method, that works globally.!
Conclusion:!
10
!Interested in Mobile Payments?!
!
CALL US!!
