sholatech:

Thank you for the kind words.

Abiajiga:

I've replied your mails. I somehow could not see the diagram. Mind sending again?

Abiajiga:

While i await your mail...

Whenever i stumble over an Idea like this, it reminds me of a Similar Idea I was invited to brainstorm on years back. This was a blueprint of the IDEA we pondered on - around 2014. A whole lot would have changed today. Your's Might be completely different though. However it is implemented or who ever gets this implemented would be in for some massive gains.

Scenerio 1

Assuming user has previously registered for service VIA USSD.

User has NGN 1,000 and wishes to save. He purchases and loads an MTN Voucher of that amount. Hereafter, he dials a USSD and a User specified particular amount is deducted from the Call Credit of the User's line and a credit alert hits the Users' Bank Account(Account Lookup and Crediting done via NIBBS API) after a particular Percentage have been made on the funds - We looked at 3% then. So an Initiation of a 1K savings would cost the user just 30 NGN

Issues we discovered then, Keep in Mind that a lot would have changed since early 2014

1. The VAS via USSD System in Nigeria Telcos was not tailored for this. The Max Deduction then was 100 NGN. Would we force the User to dial the code several times to attain the 1K saving intent? There were workarounds then to this though, but it pushed profitability beyond the 3% Margin. NCC had promised to review some of the complains we pointed out to them then. I doubt if they've done that yet.

2. The Fewer USSD Sessions you have the more profitable it is as, billings were made based on Number of USSD Sessions. Refer, Point 1

3. A 1K Credit Voucher leaves the Telcos at a value far less than the face value of 1K. So clearing back at the face value at the Telcos would be Impossible as they would be loosing. There were also workaround for this though, but they would push profitability far above the 3% margin

4. MTN & the Defunct Etisalat had the fastest clearing then, with Glo taking upwards of months. This meant that you would need to have Liquid Cash equivilent to the Popularity/Success of the Scheme.

5. Acceptability, Nigerians are naturally skeptical of Who holds their funds. A survey proved that more then 68% were skeptical. This was before the reappearance of these Money doubling schemes(MMM, etc).Though,We had Ecobank willing to support then, Keeping profitability at 3% was difficult no matter how large the system scaled.

I forgot to mention that for NIBBS to give you access to their API, you would need a Mobile Money Licence from Central Bank and they charged 1.5 NGN/API Hit.\

Scenerio 2

1. Build a Mobile App and Use some API from MTN and the defunct Etisalat with workaround for other Telcos.

2. This solved few of the challenges in Scenario 1, but pushed profitability Margin to a ~10% service Charge.

3. At this charge, the aim of the service becomes almost defeated.

I could provide fine details of Months research on this version of the idea on request to whoever and provide whatever support time would permit me to, all at no Strings!

Brainstormed extensively on a similar idea in time past. Please shoot a mail - fpbmhtykb@asorent.com