NovoPay Presentation for IT Minister @iSPIRT Event - Conclave for India as Product Nation #1

April 7, 2023 © 2014 Novopay Confidential 1

Financial Inclusion through Mobile Payments

April 7, 2023 © 2014 Novopay Confidential 2

Retail“India - Land of Kiranas”

AadhaarOnline Identity

BankingExpensive, cash-based

13 million shopsRural, Offers credit

Biometric Identity System630 million enrolled

60% of people unbankedBank Branches & movement of people & cash - expensive

Mobile Payments Solution

Addresses the Unbanked

Large number ofretail outlets

Using the Aadhaar platform

Mobile & Cloud Powered Technology Platform

6 km walk to bus stop

The Problem - Ram’s Thursday ordeal

14 km bus journey

2 hour wait at the bank and a frustrated

bank clerk

2:30pm deadline

The return journey

Moneylender dues @ 5% pm

Ration from village Kirana with remaining money

April 7, 2023 © 2014 Novopay Confidential 4

April 7, 2023 5

Weekly Wage - ₹792

Loses 28% of his income!

₹792

Transport ₹20

Interest ₹30

Opportunity cost of wasted day ₹132

₹610

© 2014 Novopay Confidential

Ram’s cost of the financial distance

April 7, 2023 © 2014 Novopay Confidential 6

Customer uses his Aadhaar ID to authenticate himselfAndroid-based mobile solution for simple, accessible, low-cost banking

The Solution

NPCINat’l

PaymentCorp of India

IDMapper

Authentication

Merchant Bank

Ram’s Bank

Kirana with a Micro-ATM

SMS

Debit – Rs 300

Ram

Credit – Rs 300

Mobile NetworkServer

Novopay Retail Outlets - Bangalore

7 April 2023 © 2014 Novopay Confidential 8

April 7, 2023 © 2014 Novopay Confidential 9

Mobile Payment – Cloud Services

7 April 2023 © 2014 Novopay Confidential 10

Novopay Team

April 7, 2023 © 2014 Novopay Confidential 11

CEO, Novopay

CEO - Kolkata & W.Bengal, Vodafone

CEO - Vodafone M-PESA

CTO, Novopay

Chief Product Manager -Aadhaar

Product Manager - Google Map Maker

Sridhar Rao Sanjay Jain Gautam Bandyopadhyay

COO, Novopay

Head – Finacle Digital Commerce, Infosys

Head – E-Banking & CRM deliveries, Infosys

Sanjay JainSridhar Rao Gautam Bandyopadhyay

CEO, Khosla Labs

Head-of-Technology Aadhaar

Sun, Intel, SGI, WebMD –

Silicon Valley

Srikanth Nadhamuni

April 7, 2023 © 2014 Novopay Confidential 12

Thank You