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Person-to-Person Mobile Payments

Person-to-Person Mobile Payments. money made simple. Cliff Canan (CEO). E-mail: cliff@nooch.com Website: www.nooch.com Twitter: @NoochMoney. Topics. Nooch Defining the Status Quo What’s changed? Generation-M P2P Opportunity : Solving a real problem

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Person-to-Person Mobile Payments

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  1. Person-to-Person Mobile Payments money made simple Cliff Canan (CEO) E-mail: cliff@nooch.com Website: www.nooch.com Twitter: @NoochMoney

  2. Topics • Nooch • Defining the Status Quo • What’s changed? Generation-M • P2P Opportunity: Solving a real problem • Merchant Value-Add: 1-3 years out • Keys for success in P2P

  3. The Problem • Cash is Scarce • People carry • less cash • ATMs • Inconvenient, • High fees • Payback • Bets, dinner tabs, & friend-based debt • No P2P Solution Nooch Incorporated – Proprietary and Confidential.

  4. Nobody likes a MOOCH:

  5. Status Quo <10% Americans use any of the emerging platforms… yet. Today’s Status Quo: …outdated, inefficient, and NOTGOODENOUGH

  6. What’s Changed? Social Media • Generation-M • Simple • Social • Secure • Close to free More smartphones sold than PCs in 2011 Curse of the app store

  7. The Solution: Nooch • Person-to-Person mobile payments for: • college students • small groups • micro-merchants Technology Front End Back End • Native iPhone app – 3rd generation, simple UI • HTML5 mobile web site for any smartphone • All functions from app • Security: intelligent fraud ID & risk management • PCI compliant on SSAE 16 certified private servers • All accounting databases

  8. How Nooch Works: P2P Transfers • Home Screen • Select Recipient • (Facebook, phone contacts, or email) • Enter Amount • Confirm PIN

  9. Nooch: After Transfer • Sender’s Reciept • All details • Easy, big Dispute button • Sender’s Activity • Sort by type, time, location, amount, etc. • Recipient Notified Instantly

  10. Generation-M • Among College Students: • 84% carry less than $50 • 89% use ATM at least monthly • 73% pay friends/peers regularly Nooch Incorporated – Proprietary and Confidential.

  11. Generation-M Use Cases $9.7 billion per year donated to charities & non-profits $7.1 billion per year spent on ATM fees $2 billion per year spent on fraternity & club dues $1 billion per year spent on fantasy sports

  12. P2P Market Opportunity Banks are rapidly adopting mobile capabilities, but P2P is not yet a prominent offering outside of the largest institutions. Mobile Services Among the Top 100 Banks

  13. P2P Market Opportunity Electronic P2P is an$80to$120 Billionmarket opportunity… Student Spending All U.S. Adults - Volume by Use Case (in billions) Sources: CashEdge Presentation at NACHA’s Payments 2010 Conference, April 2010; CashEdge Presentation to the FRB, May 2011; USAA interview with Mobile Payments Today, April 2012; Fiserv Presentation at 2012 Card Forum & Expo, May 2012; Wells Fargo Presentation at 2012 Mobile Banking & Commerce Summit

  14. Nooch’s Value Add Bank Benefits Nooch offers “Generation-M”: a quicker & more convenient way to pay friends anytime, anywhere, right from a smartphone. • Market ready mobile product • Other banks’ customers without • acquisition overhead • Entry into college market: Gen-M • New fee sources Consumer Benefits • Payments anytime, anywhere • Cheaper than ATMs, PayPal • Quickerthan checks or wire transfer • Simplest interface – just a name Nooch offers Banks: early market leadership in the erupting mobile payments space, and a competitive technology edge for tomorrow.

  15. Business Model: Start with P2P TIME Future Revenue: Ads, Coupons, DATA Nooch Incorporated – Proprietary and Confidential.

  16. Partners UD on Campus College Ambassador Program At Media Branding, Graphic Design ACM Advisors Financial Strategy Marketing Technical TARGUS Info User Verification & Validation Evolve IP Server Hosting & Network Security The Seven Soft Server Hosting & Network Security

  17. Awards & Recognition Duke Start-up Challenge Winner: Judges’ Choice ($5,000) Vator Splash Top 10 Finalist Baiada Institute Incubator Comp. Winner: Judges’ Choice ($40,000+) Recognized by Council for Entrepreneurial Development Invited to Plug and Play Startup Camp Incubator Silicon Valley KillerStartups.com article Invited to present Plug and Play University Expo Silicon Valley

  18. Future Opportunities - Merchants • Intelligent Analytics & Metrics • Account history with merchant • Risk management history • Transaction session information • Tweet with payment for discount • Customer engagement • Referral traffic

  19. Merchant Features: Geo-Location • Location-Based Search: • Users presented list of restaurants closest to them • Automatically suggest a restaurant to pay when a user opens Nooch inside that restaurant • Benefits: • Speed/convenience for customers • New first-time customers

  20. Future Opportunities • Micro-Targeted Ads • Relevant ads based on spending in real-time • Location-based options: Geo-Fencing • Micro-Targeted Coupons, Offers

  21. Restaurant Features: E-Menu • Built-In Menu: • Restaurants can add their own menu with prices • Mimic online shopping carts • Updated via web-based portal to make changes instant & easy • Benefits: • Efficiency. Servers can focus on serving • Experience. More control to customer over their experience • Cost. Save on printing, updating menus

  22. Merchant Features: Digital Receipt • Other Options: • QR Code • Bar Code • Paperless Accounting: • User-selected items • Clear & easy to read • User sends order to bar • Benefits: • Efficiency. Servers can focus on serving • Consumer Experience. More control to customer • Cost. Save on printing, updating menus

  23. Barriers to Entry into Mobile Payments • Trust • Established players • Fragility • Infrastructure (tech) • Cash in/out • Security • Reliability • Network • Chicken and egg effect Nooch Incorporated – Proprietary and Confidential.

  24. NFC?

  25. Problems with NFC • Adds “new” hardware • Money Laundering • Suspcious activity • Security concerns (real & perceived) • Active/Passive • Practicality • Proximity • Not faster • Not even close to ubiquitous – value to merchants?? • Not a “Mobile Wallet”! • What about… license, loyalty cards, job ID, • medical insurance card, Business cards NFC.NotForConsumers.

  26. Keys to Success • Keys for New Models: • Solve a real problem. Unserved target markets • Simplicity.Simple interface, UX – No New Hardware • Scalability. Bottom-up, not top-down • Trust. Make security priority #1 • Partnerships.Bank/telco/CC, tech, & marketing P2P Transfer Merchants/Retail Remittances Virtual Goods Nooch Incorporated – Proprietary and Confidential.

  27. Person-to-Person Mobile Payments money made simple Cliff Canan (CEO) E-mail: cliff@nooch.com Website: www.nooch.com Twitter: @NoochMoney

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