MiMobi, along with its wholly-owned subsidiaries, is a pro-consumer financial technology innovator with a mission to provide a full range of affordable and accessible financial services to the masses that will connect consumers, financial institutions, merchants, governments and businesses worldwide, enabling them to use electronic forms of payment instead of cash and cheques/checks.
We will make payments more convenient, secure and efficient by creating solutions that meet the needs of all of our stakeholders, and thereby drive preference for electronic payments.
We offer a wide range of payment solutions that enable the development and implementation of credit, debit, prepaid, commercial and related payment programs and solutions for consumers and merchants.
Our customers encompass a vast array of entities, including financial institutions and other entities that act as “issuers” and “acquirers”, merchants, governments, telecommunications companies and other businesses.
We're Not Just A Payment Platform. We're So Much More.
is to change the lives of the
5 Billion unbanked & underbanked
people around the world improve access to the array of banking services, such as deposits, savings, instalment loans, simplified and secure remittances
and bill payment.
Partnership: We work as one team to the benefit of all — consumers, merchants, business partners, governments and the communities we will serve.
is to bridge the gap between a traditional branch-based banking infrastructure, which doesn’t exist in rural markets,
and consumers with the most
basic of financial needs.
OUR CUSTOMERS & PARTNERS
will encompass a vast array of entities, including financial institutions and other entities that act as “issuers” and “acquirers”, merchants, governments, telecommunications companies and other businesses.
Our aim is to be the “glue” that binds the whole system together
THE CARD ACQUIRER
THE FOUR PARTIES IN THE MODEL
1) The issuer provides the consumer with a MiMobi account – which could be debit, credit or prepaid. The account could operate via a physical card, a mobile or be online only;
2) The consumer selects goods to buy and indicates that they want to pay by MiMobi;
3) The retailer submits the transaction to the acquirer;
4) The acquirer submits the transaction to the issuer;
5) The issuer approves the transaction – and remits the retail price to the acquirer, less a an interchange fee;
6) The acquirer pays the retailer, less a merchant service charge (which is negotiated directly between the acquirer and the retailer);
7) The consumer’s account is debited the retail price which appears on their statement.
OUR VALUE ADDED SERVICES
We offer a number of value-added services and solutions to our customers, merchants and consumers, including, among others, loyalty and rewards solutions, fraud prevention and detection services, alert and other controls and information services through our Value Added Services (AVS) group.
In addition, we carry out marketing activities designed to maintain and enhance the value of our brands. While cardholder and merchant transaction relationships are generally managed by our customers, we work with merchants to help provide value to them and benefits to consumers.
We embarked on a new strategic direction, with a revamped business, a new commercial ethos and a more agile product development process
We are in business to create value for our members both shareholders in MiMobi and as customers of MiMobi
OUR BUSINESS MODEL
We aim to be the world’s leading pro-consumer financial technology innovator to provide a full range of affordable and accessible financial services to the masses
OUR PAYMENT SOULTION
We will manage and develop payment solutions that build on investments and meet the needs of businesses and consumers.
We aim to build and operate reliable, flexible, always-on processing platforms.
Through collaboration and investment, we aim to influence and accelerate the use of innovative, mass-market, digital payment solutions.
HOW WE EARN REVENUES
Is to ensure that our business interests are aligned with our members’, they participate in region-wide
and in-country governance bodies.
We will employ a team of payment, digital and consulting experts, located across our network
We provide, on a competitive basis, the products, services, systems and operating regulations that enable our members to participate in the global MiMobi system. Our revenues will be earned through three
DATA PROCESSING FEES
Are determined by the number of cards issued and the extent to which these cards are used;
Are determined by each member’s connections to our processing systems and the extent to which these systems are used;
Are determined by the extent to which our cards issued around the World.
HOW WE ENABLE SIMPLE SECURE PAYMENTS
WHAT MAKES THIS POSSIBLE
INCREASING THE FOUR PARTIES
Almost anyone will be able to use our payment platform to pay for almost anything, at almost any retailer, in more than 200 countries and territories worldwide.
Our four party model, will enable participating consumers, Partnership: We work as one team to the benefit of all — consumers, merchants, business partners, governments and the communities we will serve.
Are joined by many other entities, such as mobile network operators, device manufacturers or technology vendors. Each of these entities provides services on behalf of or in partnership with one of the four parties in the model.
The value in MiMobi resides predominantly in the databases or users and the ongoing businesses accessed through the Material Contracts entered into over the recent years, this will provide the company with access to customer database of over 700 million, to promote and market our services. These services will be delivered through a number of platforms.
Also, drawing on a commercial ethos, we will co-venture with some of our customers, by injecting our people and resources into specific business opportunities, and sharing in both the risks and the rewards.
At the same time we work with other ecosystem players, such as retailers, technology companies and MNOs, to respond to the evolution of payments and deliver growth and value to all parties.
Mr. Darryl Shannon
Darryl joins the board in November 2016 and brings extensive knowledge in sales and marketing. He has extensive knowledge within the retail FMGC sector over the last 20 years being key Account Executive for Simplot Australia Pty Ltd.
Darryl recently assisted negotiations with Coles that secured a billion dollar retail deal for Simplot.
Ms. Wendy Whillance
Wendy joined the board in October 2016 and brings with her a wealth of knowledge of the Australian prepaid and loyalty markets. She had worked for over 20 years in direct marketing and software development/IT industries, including as Corporate Account Executive with Australia Post.
Wendy has worked with numerous large commercial clients, including the likes of Telstra, Salmat and ANZ and more recently with Wright Express (previously eCom then Retail Decisions) with some of Australia largest corporations, including Coles, Woolworths and the Australian Federal Government, to manage and grow their pre-paid programs. Other parts of that role included managing business day-to-day operations, including working closely with and training/developing call centre team members towards achieving strict Service Level (SLA) criteria. Wendy is a valued all- rounder from knowledge gained in hands on roles, to client management, to strategic development.
Mr. David Jaffe
David Jaffe has been a member of the Institute of Chartered Accountants in Australia since 1980. He has
been in public practice since 1985, advising business clients on various strategies and problem solving, as
well as on the normal day-to-day compliance work of his client base.
David is a registered Company auditor. He has previously been a mentor at the Victoria University’s
Executive Education Unit and is a past president of the Melbourne Hebrew Congregation.
Mr. Jonathan Gan
Jonathan is General Manager and Founder of Bluehive Financial Services, a boutique general finance
broker firm in Melbourne, Australia.
Jonathan has worked across a number of industries, including hospitality, retail clothing, motor trade,
import trade, and Australian real estate.
He has established funding relationships with all major Australian banks and non-bank lending institutions.
Jonathan holds a Bachelor of Business from RMIT, Australia) Majoring in Accounting and a Diploma of
Financial Services (Mortgage and Lending).
Mr. Tony Hedges
Tony has over 30 years practical experience of delivering advise to clients Tony has been past Partners and Director of Deloitte Touche Tohmatsu and Director of Grant Thornton Consulting
Tony is a Chartered Accountant in Australia, England and Wales
THE WORLD OF PAYMENTS
Has there ever been a more interesting time to invest in the world of payments Founded in 2011, MiMobi Limited (MiMobi) was incorporated in Australia, as Priority One Network ACN 149 674484 on The 11th March 2011 the Name change will subject to the upcoming Annual General meeting to be held in the first quarter in 2017. In December 2015, the Board of Directors endorsed a new strategic direction.
This sees Priority One changing its name to MIMobi pursuing a more commercial agenda, to increase the strategic and economic value of the company, while also improving the quality of service we will deliver to our customers.
During the course of 2016 the board also agreed to the specifics – with an inspiring vision, a bold ambition, a clear strategic priorities and values.
ESTABLISHING A PLATFORM FOR FUTURE GROWTH
ESTABLISHING OUR THREE STRATEGIC PRIORITIES
To achieve our ambition, we have identified the three areas of activity that are set to have the biggest impact – which we call our strategic priorities:
BUILD DEEP PARTNERSHIPS
To deliver value to customers and thereby deepen relationships, our products and services must enable them to be more successful – and are grounded in a deep understanding of their respective challenges and objectives.
Under the terms of the new strategic direction, we wanted to make a more commercial, competitive and customer-focused business.
So we re-shaped the company, established a new name and a new leadership team.
We are now pursuing our strategic priorities accelerating growth, building deep partnerships and expanding access to our platform – and have clear plans for each of them.
Expand access As the world of payment evolves and the lines between face-to-face and online commerce continue to blur, our customers and partners need broader and easier access to our technology and our wider assets.
Responding to local market and customer needs, we therefore look to develop new forms of acceptance. We will also provide the tools, APIs and technology components that allow customers and partners to develop their own enabled innovations.
We are focused on a clearly identified portfolio of growth opportunities. To this end, we are transforming our approach to innovation, with an emphasis on speed and cost effectiveness, and harnessing the ideas from across our organisation and our ecosystem
THE BOARD OF DIRECTORS
The Board of Directors will be lead by
Mr. Virosh Perera
Chief Executive Officer/ Director
Mr Virosh Perera is a Non Executive Director of Company he has held this position since 2012.
In November 2016 the Board of Directors endorsed his position as the new Chief Executive Officer and to
lead the team to implement the Company's strategic priorities.
Virosh Perera is current Non Executive Chairman of
Spirit Air is the project name for a new airline company that will focus on single class short-haul scheduled fights. Spirit Air will capitalise on the widening gap in Short-haul travel between business and economy class. With regional offices in Singapore, Sri Lanka, India, Dubai and Maldives which will aim to capitalise in domestic and short-haul international market.
Virosh Perera was previously Head of the Business Faculty for the Australian Education Academy, a position he held from 2007 to 2016 .The Business Faculty is committed to delivering business management education that keeps pace with the ever-changing world of global business, and teaches more than 900 full-time local and international students.
Virosh Perera Originally from Colombo, Sri Lanka’s vibrant capital, Virosh now lives in Melbourne, Australia.
Mr. Johnson Zhang
Chief Technology Officer
Johnson was the head of the IT department for www.Parkson.com.cn, where his responsibilities included:
system architecture design, requirement and business analysis; application integration, system decoupling and optimization; teamwork platform & knowledge base and component library building.
Johnson was Senior R&D Manager at das.bitauto.com, and his responsibilities included: Microsoft .NET, Framework architecture design for DAS platform and was responsible to lead Technical Team to develop SAAS products for DAS platform.
Johnson was also Technical Director for www.aigo.com, and in this position, he lead the technical team to develop multi language website and e-commerce platform, developed and integrated OA/CRM/SCM/FMS/HRM subsystem. Johnson also built the OLAP data warehouse to support the marketing
Johnson holds a B.S. Degree from USTB (University of Science and Technology, Beijing).
Mr. Joe Fekete
Chief Financial Officer and Company Secretary
Joe holds a Bachelor of Business in Accounting and is a registered Company Secretary. He is a member of both CPA Australia and the Chartered Institute of Secretaries. His business management and accounting experience spans over 20 years in various industries including Mining, Advertising, Travel, Wholesale Retail
distribution, Construction, and Public Practice.
Joe is an experienced professional who has gained his experience in areas of statutory reporting, IPOs, accounting, system development, restructuring and general business management from the Board Room to Shop Floor.
Joe, has successfully helped float Altius Mining Ltd & Freehill Mining Ltd is in its stage of finalisation, Joe is also experienced in public disclosure requirements and dealing with external parties, including statutory reporting and in the delivery of quality management information within the organisation on a timely basis.
Mr. John Armytage
Chief Operating Officer
John oversees the Company's operations, including product development, project management, client services, end user customer service, marketing operations, database management reporting, human resource management and website development as well as the administration of all business contracts.
John brings 30 years of experience as an executive renowned for his Financial Services domain expertise and experience in management including Operations and Administration, Project & Program, Client & Vendor Relationship, Product and Marketing, Sales & Business Development and Corporate Strategy within the
Prior to joining MiMobi, John held senior positions in various organisations involved in software and web development, financial advice, superannuation and management consulting. John has a Bachelor Economics, a Master Business Administration and is a PRINCE 2 Project Management Practitioner.
Mr. Frank Hargreaves
Commercial Director Entertainment –US/ America’s
Frank has for the past 40 years experience in the entertainment industry Frank has toured many entertainers including Lionel Richie and The Commodores, Peaches and Herb, Robbie Jackson and negotiating tours with management for Whitney Houston.
Frank was given the responsibility by President Marcos to promote and assist in the staging of “Thriller in Manila”, also assisted in the casting for the film “Apocalypse Now” under the direction of Marlin Brando.
Frank will oversee the staging of “The World’s most Beautiful Woman” pageant. (as previously mention in A global online beauty pageant with a difference. It allows any female talent to enter for free. With a total of 3,200 contestants from over 130 countries ranked in the top 22,000 in the world and 11,000 in the United States for most popular websites via Alexa. The plans are to stage the first “In Search of the World’s most Beautiful Women” pageant in 2017.
Mr. John Adicho
Commercial Director (Payments –Strategy Europe, Russia Middle East, UAE,)
John joined the Company in October 2016 John has held leadership and business development roles in Australia, Philippines and Europe. John will be responsible for the growth of the Company s payment business in Europe, Russia, Middle East and UAE via major retail merchants and Financial institutions.
John has over 30 years of business experience in Finance, Property
and Payment Systems.
Mr. Simon Fjell
Commercial Director (Prepaid debit Card & Mobile SIM -Strategy Africa)
Simon iwho has a long history with sustainable development. Simon has
worked with micro finance organisations in India that have provided over 1.2 million women with funding for small businesses. They have also created group banking to enable safe storage of wealth and insurance schemes for emergencies. In South American projects, he was part of worked mostly on improving livelihood and promoting gender equity and a cow bank was one of the activities.
Mr. Nicholas Martin
Commercial Director (Product Development)
Nicholas is a business professional with over 30 years working in the Australian Financial Services Industry with outstanding skills in originating business ideas and undertaking the planning and organisation to make these ideas into commercial reality. At his best, in organisations that are looking to grow through market expansion, new product development, acquisition or a turnaround from the adoption of a new strategy, Nicholas is articulate and persuasive with exceptional communication skills and is able to effectively relate to everyone on any level. He understands and has a commitment to driving strong brands, business growth, customer service, risk management and sustainable outcomes.’