Technological Value-Added
Service (VAS) Programs
As our management team is one of the key technologists in India, Safron is in collaborative efforts working on multiple Technological Value-Enhancement programs. The current collaborative projects include NANO CREDIT and MOBILE WALLET – spanning 18 markets across the globe. Safron aspires to venture into other new areas of technological VAS projects involving cyber security and other IT cloud solutions.
Nano Credit and Mobile Wallet’s proprietary technology solution enables qualifying prepaid mobile subscribers to access airtime on credit. Key attributes of the solution are:
- Subscribers use the advanced airtime as they wish i.e. make international calls, send SMS, browse the internet etc..
- Nano Credit and Mobile Wallet’s system prompts qualifying subscriber to access airtime on credit if their calls drop.
- Subscribers can access airtime on credit as many times as they wish for as long as they have repaid previous airtime advances.
NANO CREDIT and MOBILE WALLET is an innovation company that specializes in providing revolutionary technological VAS solutions to Mobile Network Operators (MNOs) across the Globe. It incorporates Advanced Credit Service (ACS) that provides micro credits to targeted users on the mobile platform. The Mobile Wallet provides creative solutions such as Pay Day loans, Closed User Group Product and Advanced Pre-paid Utilities Product, all available to the subscriber’s mobile phone. The objective was to provide utmost convenience to the user with minimal hassle in managing his/her finances via mobility.
- Nano Credit and Mobile Wallet are able to lend various airtime amounts depending on the usage history of the subscriber. This enables a significant proportion of a telco’s customer base to qualify for airtime credit.
- Repayments are recovered by Nano Credit and Mobile Wallet on behalf of the Telco from the subscriber’s next top up.
Benefits for the Telco
Credit Risk and Capital Expenditure (Capex)- Nano Credit and Mobile Wallet carries all the credit risk associated with the advances and also bears the full Capital Expenditure cost of implementation.
Revenue enhancement – This solution turns dropped calls and “Call me back” into airtime sales. Most of the sales of emergency airtime advances are incremental revenue for the telco.
Brand enhancement – In increasingly competitive and mature telecoms environments, this product enhances the brand , engenders loyalty and reduces churn for telcos.
Marketing – The telco has the right to brand and advertise the product
Platform for nano-lending – Distribution of micro credit products is one of the most promising Value Addition Service for the mobile platform. Nano Credit and Mobile Wallet’s solution provides the requisite data and test case to enable further development of similar micro-loan products.
Nano Credit and Mobile Wallet carries all the credit risk associated with the advances as it buys the advanced airtime in bulk and in advance from the telco. It also carries all the capex cost of implementing the solution.
Benefits for the Subscribers
Convenience – offering convenience whenever you need it wherever you are. Very often the need to make a call arises when a subscriber is not able to top up conventionally (late at night, in traffic, no loose change, in the middle of an important call etc).
Inexpensive in absolute and relative costs – Often the total costs of physical recharge is higher due to inconvenience (drive/walk to nearest kiosk etc).
Small amounts – People at the bottom of the pyramid are averse to significant debt. They are comfortable with short term micro/nano loans- nano airtime advances fall into this category.
Safron group not only wants to take these products to various markets in Asia like Indonesia, Malaysia, Philippines, etc. but also to Middle East and Eastern Europe as well. Apart from Nano Credit and Mobile Wallet, Safron also intends to venture into new areas of technological VAS projects involving cyber security and other solutions.