In our 5 minutes with profiles, MEF members talk about their business, their aspirations for the future and the wider mobile industry. This week, Peter Cook, founder and the CEO of Novatti introduces the mobile payments specialists.
What does Novatti do?
Novatti creates and delivers innovative payment solutions to a global base of Tier 1 and smaller service providers and start-ups. With our multi-services payments platform, Novatti enables telecoms, banking and alternative network service providers to extend their product portfolio – taking robust, integrated new payments services to market faster and more cost-effectively.
Peter Cook, Founder & CEO, Novatti , MWC March 2015
With a defined roadmap for innovation, along with our deep domain knowledge, we can help you take advantage of the rapidly-expanding marketplaces of next generation mobile and payments services – as well as differentiating your services to acquire new customers and increase revenues from your existing base.
When did Novatti launch and what growth have you seen?
We are an established, innovative and robust business currently undergoing fast growth. Novatti launched in 1996 as a billing company, with our first prepaid mobile customer being Vodafone Australia in 1997. Our first payments customer was in 2002 for electronic recharge through POS solutions. We now deliver a line of payments solutions at the intersection of mobility and banking, with a focus on tailored solutions based on Commercial “off the shelf” software. Our growth is strong, consistent and global – this year we have opened development and support centres in Kuala Lumpur & Dar es Salaam. We work with many leading technology companies as an OEM supplier of Voucher Management and payments technologies. We are proud that Novatti is an Advanced Business Partner of IBM.
What are your main goals?
Our core goal is to deliver value, such that our customers become leaders in their markets and ‘deliver value’ to their customers. Our solutions and services meet our goals if enterprise customers can drive new digital financial services to large consumer bases. Hence our goals reflect financial inclusion and mobile financial services take-up for the customers of our customer. Goals for our staff include that they are well remunerated and gain professional satisfaction by way of interesting and challenging work, and of course the board requires our shareholders enjoy a profitable growing return on their investment in us.
Where do you see Novatti in three years’ time?
Our tagline is “Innovation for Payments” – we will continue to innovate and enhance our offerings and be at the front of the curve for blending mobility and payments in both developing and developed markets. We will partner with all participants in the market to increase adoption of solutions that make our end customers more productive and profitable. Novatti supports over a billion transactions a year – my goal is to double that in three years.
What aspect of mobile is most exciting to you right now?
Mobile is the great equaliser – consumers in developing nations can have similar or even better digital services to those in developed nations. For payments solutions, some of the great innovations are coming out of markets that have previously been bereft of financial solutions and infrastructure. Deploying these new services is exciting …
CEO & Founder
What are the crucial issues for mobile payments?
I see that there are groups of issues – firstly, standard financial payments problems that beset even traditional financial solutions such as identification and authentication of the consumer, audit trails, financial integrity and system security. Secondly, all of the issues related to CTF, KYC and AML that are inherently more difficult for mobile only customers and in particular from developing nations. And thirdly, interoperability of all of the new mobile money, remittance and digital wallet services that are being brought to market. We need mature commercial players who see that interoperability is important for proper growth, and not just an avenue to squeeze some fees.