SCALING A DIGITAL WALLET

Case Study:

Ooredoo Mobile Money - Build, Launch, and Scale

Company: Ooredoo Group

Location: Doha, Qatar

Year: 2012-2015

SCOPE

Research Methodologies: Stakeholder interviews, Market Research, Payment Tech Trends, Tech Partner identification, and develop Customer Personas.

Outcome: Identified user needs, created problem statements, and developed personas. Gained approval from Qatar Central Bank in partnership with QNB.

SHAPE

Problem Statement: Ooredoo Mobile Money needed to partner with leading financial technology providers to enhance its service offerings, streamline onboarding, and increase user adoption.

Outcome: Formed strategic partnerships with Mastercard, SAP, QNB, Wipro, and MoneyGram to Kick Start the project.

SOLVE

Ideation Sessions: Brainstormed solutions included integrating SAP’s backend support, Mastercard’s secure payment processing, and MoneyGram’s international remittance services into the mobile wallet and Wipro AML/Compliance Solutions.

Prototyping: Developed a prototype of the enhanced mobile wallet app with features for salary transfers and international remittances.

Testing: Conducted user testing to gather feedback on the new features and integration, refining the prototype based on user input.

Outcome: Developed the App in seven different languages to cater for the diverse cultures in Qatar, tested usability, and refined features at pace. Building out a set of epics, user stories, and backlog priorities.

SCALE

Implementation Plan:

  • Phase 1: Build the enhanced mobile wallet with SAP, Mastercard, and MoneyGram integrations.

  • Phase 2: Launch the new services in a pilot program to gather initial feedback and make necessary adjustments.

  • Phase 3: Full-scale launch and marketing campaign to drive user adoption.

Execution: Built and integrated SAP’s backend system for robust support and scalability. Incorporated Mastercard’s payment processing for secure transactions. Partnered with MoneyGram to offer seamless international remittance services. Launched the enhanced mobile wallet in the pilot phase, followed by a full-scale rollout.

Monitoring and Evaluation:

  • Monitored user adoption rates and service usage.

  • Gathered continuous feedback for service improvements.

  • Evaluated the financial performance and user satisfaction metrics.

Challenge: Global Telco “Ooredoo” were looking to diversify their portfolio with a Mobile Money solution in order to serve the under-banked/unbanked segment in Qatar.

Solution: Design, Build, Launch, and Scale a Digital Wallet Service

Ooredo Mobile Money service scaled beyond expectations:

Results:

  • Over $4 billion USD in annual transactions through the mobile wallet by 2016.

  • Annual revenue exceeding $250 million by 2017.

  • Significant increase in user adoption and engagement with over 250k customers (over 40% of addressable market).

  • New services including, P2P, Bill Payment, Salary Transfer, International Remittance and a Co-Branded Card.

By leveraging strategic partnerships with SAP, Mastercard, and MoneyGram, Ooredoo successfully built, launched, and scaled its mobile money service. The enhanced mobile wallet now offers comprehensive financial services, resulting in substantial financial growth and improved user experience.

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BUILDING A "SUPER APP"