WO2013019103A1 - Système et procédé de remboursement de microcrédit - Google Patents

Système et procédé de remboursement de microcrédit Download PDF

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Publication number
WO2013019103A1
WO2013019103A1 PCT/MY2012/000222 MY2012000222W WO2013019103A1 WO 2013019103 A1 WO2013019103 A1 WO 2013019103A1 MY 2012000222 W MY2012000222 W MY 2012000222W WO 2013019103 A1 WO2013019103 A1 WO 2013019103A1
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WO
WIPO (PCT)
Prior art keywords
repayment
microcredit
payment
kiosk
financial entity
Prior art date
Application number
PCT/MY2012/000222
Other languages
English (en)
Inventor
Seng Chuan TAN
Meng Lye SIT
Original Assignee
Tan Seng Chuan
Sit Meng Lye
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Tan Seng Chuan, Sit Meng Lye filed Critical Tan Seng Chuan
Publication of WO2013019103A1 publication Critical patent/WO2013019103A1/fr

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Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/18—Payment architectures involving self-service terminals [SST], vending machines, kiosks or multimedia terminals
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/22—Payment schemes or models
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/22—Payment schemes or models
    • G06Q20/28—Pre-payment schemes, e.g. "pay before"
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/22—Payment schemes or models
    • G06Q20/29—Payment schemes or models characterised by micropayments
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q40/00—Finance; Insurance; Tax strategies; Processing of corporate or income taxes
    • G06Q40/02—Banking, e.g. interest calculation or account maintenance

Definitions

  • the present invention relates to microfinancing services. More particularly, the present invention relates to a system and a method for microcredit repayment via a plurality of strategically placed repayment kiosks.
  • Microcredit or microloan is the extension of very small loans particularly to cater those in poverty or in underbanked or poorly banked communities. It also caters to businesses and entrepreneurs, too poor to qualify for traditional bank loans. The people from impoverished and poor community lack collateral, a verifiable credit history and steady employment which are needed to meet the requirements of a typical loan. Microcredit does not require its borrower to fulfill all these requirements. Microcredit is usually used to encourage and spur entrepreneurship towards people from the poor community. The facility of microcredit gives the opportunity to the poor to start businesses and eventually escape from poverty. Microcredit are usually used by borrowers, entrepreneurs and petty traders particularly to buy raw goods in bulk or purchase equipments to start off a business.
  • microcredit is viewed as a means to improve the quality of life of the poor and not merely for bringing monetary gain to the financial institutions. Since microcredit is catered to mainly people from the poor community, it is common in third world and developing countries.
  • MFI microfinance institutions
  • NGOs governmental and non-goyemmental organizations
  • the funding for such MFIs usually involve charitable donations but this may not be true in all cases.
  • Recent research has shown that there are almost 13 million microcredit borrowers and the volume is growing at 30 percent annually. While microcredit borrowers lack collateral and credit history, research has shown that the repayment rate is a stunning 97 percent. This is much higher in comparison to normal personal loans or housing loans. The reason the repayment rate is so high is most likely because the amount borrowed is small, ranging from a few hundred dollars to about $25,000 and because of the profile of the borrowers and their relationships with the representative from the MFI.
  • the frequency of repayment is also high, such that instalment payments may be done on a daily, weekly or fortnightly basis. Borrowers repay their loans to ensure continued access to the microcredit service in the future and to protect their reputation and relationships within the community
  • MFI Even though many MFI does not require collateral, credit history or steady income, some MFI still require business equipment or business assets to be used as collateral for microcredit. Some may even require a personal guarantor for microcredit approval. However, in most cases of microcredit facility, the MFI focuses on the potential of its borrowers rather than their past record. In situations where traditional loans are not possible, microcredit serves as a vote of confidence in the ability of the individual to reverse his/her fortune and become financially independent.
  • Microcredit tend to translate to much higher administrative cost in comparison to normal loans.
  • MFI had to review and modify the usual credit business model.
  • interest is not charged; instead administrative fees are imposed on borrowers.
  • the rate of microcredit interest tends to be higher than conventional interest.
  • microcredit is small in value, for the same amount of money, microcredit can be offered to more borrowers compared to normal lending. This results in increased administrative cost which is covered by the higher interest charges or administrative fees. For the rest of this document, interest and administrative fees may be grouped as fees that adds to the amount loaned. The administrative cost may also be contributed by having representatives from the MFI travel to the premises of the borrowers to collect the installment payments since the borrowers are typically located in poor, and therefore, rural community, making it hard for them to travel to the MFI to make the installment payments.
  • PCT patent publication WO 2009/086089.
  • the patent publication disclosed a method, program product and a system for advancing funds to a banking customer through online access interface with the bank.
  • the method also includes decrementing the total available line of credit by the cumulative amount of one or more preselected increments provided for the customer transaction and a predetermined fee amount for each preselected increment of funds.
  • the prior art mainly describes the management of micro-loans from the. point of awarding a first micro-loan and continuous micro-loans to a borrower.
  • the prior art does not suggest the usage of strategically placed kiosk for accepting recurring repayments from the borrower.
  • US patent publication 2010/0030687 disclosed a financial management system to facilitate the transfer of funds among accounts held at different financial institution and over different networks. While the system disclosed is useful for micro-deposits and most likely useful for microcredit repayment, the prior art does not suggest the usage of kiosk for receiving payment from the borrowers. Transfer of funds cannot be aptly applied to borrowers of microcredit as the borrowers of microcredit would most likely not have access to computers. Therefore there is a need for a system and a method for microcredit repayment that is convenient and uses means for accepting repayment which is placed strategically in areas of high borrower population to cater to the needs of the client.
  • the system and method for microcredit repayment comprises a plurality of repayment kiosks for receiving payment from users of the system.
  • the plurality of repayment kiosks are connected to each other to form a network.
  • the network is linked to either to a plurality of server or an Internet cloud or both through a network switch.
  • the system comprises of at least one financial entity for awarding microcredit to borrowers.
  • the repayment kiosks of the system are strategically placed in areas of high microcredit borrower population and of easy access to the users, particularly within the poor and rural community.
  • the users input a borrower's information and payment denomination via a program installed in the kiosks and is communicated to the selected financial entity either through the Internet cloud or the plurality of server via a secured connection or protocol.
  • the repayment kiosk is provided with a notes and coins acceptor unit for receiving notes and coins as means of payment and also a plurality of buttons to allow the user to operate the program installed in the kiosk. Additionally, the repayment kiosk may accept other modes of payment besides notes and coins.
  • the repayment kiosk may be further provided with a chip card reader and sensor for detecting cards with security chip which include reward cards, points cards, stored-value cards, credit cards or debit cards and also paper vouchers and tickets.
  • Fig. 1 shows a diagram depicting a system for microcredit repayment
  • Fig. 2 is a flow chart illustrating a method for repayment of a microcredit using the system of the present invention.
  • microcredit may be used interchangeably with terms such as microloan, microlending, microfinancing, among others.
  • an entity who is awarded the microcredit may be conveniently referred to as the borrower while the awarding entity, which may include but is not limited to Lending & Recurring Payment Institutions (LRPI) may be conveniently referred to as the lender.
  • LRPI Lending & Recurring Payment Institutions
  • the system comprises a plurality of repayment kiosks (100) for receiving payment from a microcredit borrower. It should be noted that payment may also be received from a party representing the borrower. Therefore, for the convenience of description, any person (the borrower or a party representing the borrower) who repays the microcredit through the repayment kiosk (100) shall be referred to as a user of the system.
  • the user of the system deposits the payment based on denominations selectable through a program installed in the repayment kiosk (100). The denomination selected may be based on an agreed term of payment between the borrower and the lender when the microcredit is awarded.
  • the repayment kiosks (100) may be connected to each other through a wired or a wireless connection which forms a network (110).
  • the network may be local area network (LAN) or a wide area network (WAN).
  • the repayment kiosks (100) are connected to each other wirelessly via a Global System for Mobile Communications (GSM) network.
  • GSM Global System for Mobile Communications
  • the network (110) is further connected to .
  • NTU network termination unit
  • the connection may also be established through a wired or wireless connection.
  • the network (110) is wirelessly linked to NTU (130) via a wireless protocol cloud (120).
  • the wireless protocol cloud is a GPRS cloud.
  • the GPRS cloud (120) may be substituted with other wireless protocols and standards such as Code division multiple access (CDMA) and its derivatives, Enhanced Data Rates for GSM Evolution (EDGE), 3G, High Speed Packet Access (HSPA), 3GPP Long Term Evolution (LTE) and the like, in accordance to the wireless technology which advances with time.
  • CDMA Code division multiple access
  • EDGE Enhanced Data Rates for GSM Evolution
  • 3G Third Generation
  • LTE Long Term Evolution
  • the NTU (130) is further connected to a network switch (160).
  • the network switch allows the network (110). of the repayment kiosks (100) to be linked to a plurality of server (140 - 142) or to an Internet cloud (150) or both.
  • the plurality of servers (140 - 142) may include a web server (140), a database server (141) and an application server (142).
  • the value of payment and information selected and keyed in by the user via the repayment kiosks (100) is sent to the plurality of servers (140 - 142).
  • the database server (141) stores the information received from the repayment kiosks (100) while the application server (142) manages the transaction between the repayment kiosk (100) and a financial entity (180).
  • the information and payment denomination received from the repayment kiosks (100) may also be sent to the Internet cloud (150).
  • the payment denomination is communicated to the financial entity (180) from the application server (142) or the Internet cloud (150).
  • the financial entity (180) is the entity which awards the microcredit to borrowers.
  • the financial entity may be a Lending & Recurring Payment Institutions (LRPI).
  • LRPI Lending & Recurring Payment Institutions
  • the financial entity (180) therefore receives recurring installment payment from the user for the microcredit awarded.
  • the user uses the system to repay the microcredit awarded by a corresponding financial entity (180).
  • the pajonent denomination and users' information may be sent from the application server (142) to the financial entity (180) via a plurality of fixed wireless terminal (FWT) (170) which functions to establish a secured wireless connection between the application server (142) and the financial entity (180).
  • the wireless connection is a secured GSM link.
  • the application server (142) may be linked to the financial entity (180) via a secured wired connection as well.
  • the payment denomination received may be sent from the Internet cloud (150) to the financial entity (180) through a secured wired connection or secured wireless protocol.
  • the repayment kiosk (100) may be a cash acceptance terminal.
  • the repayment kiosk (100) is an interactive self-service kiosk.
  • the plurality of repayment kiosks (100) is strategically placed in areas of high borrower population and of easy access to the borrowers.
  • the users of the present invention may primarily comprise people from the poor community who are awarded the microcredit. Since the poor community is typically a rural community, the strategic placement of kiosks in rural areas presents the borrower with the convenience of paying the installments without having to go to the financial entity (180).
  • the financial entity (180) on the other hand, avoids the need to travel to rural areas for collecting payment or to open a branch in the rural area, therefore saving time and cost.
  • the repayment kiosk (100) is provided with a notes and coins acceptor unit for receiving notes and coins as means of payment. Notes and coins deposited by the users are stored in a hopper which is securely locked inside the repa)'ment kiosk (100). In order to collect the notes and coins, the repayment kiosk (100) would need to be unlocked by a unique unlocking mechanism. The hopper would then be removed and notes and coins are transferred to a secured storage before being transported.
  • the repayment kiosk (100) is also provided with a plurality of buttons to allow the user to operate the program installed in the kiosk (100). The user may select a preferred option by hitting the corresponding buttons based on the options display on a screen. Alternatively, the buttons are not required if a touch screen is provided.
  • the operation of the repayment kiosk (100) is similar to that of an Automatic Teller Machine (ATM) or a payphone.
  • ATM Automatic Teller Machine
  • the repayment kiosk (100) may accept other modes of payment besides notes and coins.
  • the repayment kiosk (100) may be further provided with a chip card reader and sensor for detecting cards with security chip which include reward cards, points cards, stored-value cards, credit cards or debit cards and also paper vouchers and tickets.
  • the mode of payment is not limited to the aforementioned examples and may be varied and improved in accordance to the progression of payment technology in the future.
  • the chip card reader and sensor may also be used to interpret identity and secured cards and devices for identification purposes.
  • Identification of the user of the kiosk may also be carried out by a camera preferably installed on the kiosk to identify and capture images and video recording of the user during the usage of the kiosk.
  • the kiosk may also include speakers and microphones for voice and audio interactions.
  • the repayment kiosk (100) may be used not only for microcredit repayment, but also for other functions such as deposition of cash for transfer, deposition of cash into personal account, payment of loans, among others.
  • Yet another preferred feature of the system is the printing of receipt or voucher to indicate the completion of a transaction through a printing means via the kiosk.
  • the financial entity (180) is a body that handles and manages microcredit and receives recurring payments from the borrowers. Since the microcredit is typically small in value, the frequency of repayment may be high, such that installments may be executed on a weekly basis. Therefore, the financial entity (180) keeps track of the repayment closely as they are being received from the users. It should be noted that, the usage of the repayment kiosks (180) allows the financial entity (180) to receive repayments in a more flexible manner, wherein the borrowers are allowed to repay the microcredit without having to rigidly follow the installment routine. For example, the borrowers may choose to repay a higher value from the agreed installment value such that the microcredit can be fully repaid in a shorter amount of time.
  • the financial entity (180) upon receiving the value of payment received and the borrowers' account number, would record and store the information of these transactions in real time.
  • the cash from the repayment kiosk (100) would then be collected and securely sent to the financial entity (180).
  • If the method of payment is in the form of debit cards or vouchers, credit transfer will occur between the financial entity (180) and other banks or vouchers provider.
  • the arrangement of payment depends on the agreement between the user and the financial entity (180).
  • the system may cater to international repayment.
  • the repayment kiosks (100) are placed at different countries to allow the borrower to repay the microcredit from another country.
  • a borrower who is awarded a microcredit from a financial entity (180) in a first country migrates to a second country.
  • the borrower in this case, may utilise the repayment kiosk (100) in the second country to deposit the installment payments of the microcredit.
  • the value of payment is similarly received by the application server (142) and is communicated to the financial entity (180).
  • the user may select a payment denomination from the program installed in the kiosk (100) in a local currency, that is, the currency of the second country.
  • the payment made in a local currency is converted to the currency of the origin country using a currency converter module.
  • the currency converter module may be installed within the application server (142) and is made applicable for international repayment.
  • the currency converter module maintains a currency exchange rate that is determined by the financial entity (180) and may change accordingly under the purview of the financial entity (180) and the fluctuation of currency exchange rate.
  • the currency exchange rate may be determined by an external entity (not shown). Therefore, the currency converter module is not installed within the application server (142) because the currency exchange is executed by the external entity on behalf of the financial entity (180).
  • Fig. 2 there is shown a flow chart illustrating a method for repayment of a microcredit using the system of the present invention.
  • the method for repayment of a microcredit follows the sequence of the program installed in the repayment kiosk (100).
  • the program installed in the repayment kiosk (100) guides the user in using the kiosk (100) for completing an installment payment for a microcredit.
  • the program begins by first prompting the user to select a preferred language (210).
  • the program displays a list of services (220) provided by the financial entity (180) via the repayment kiosk (100).
  • the user selects a repayment function (221) and is led to proceed with either a local repayment (231) or an international repayment (232).
  • a local repayment (231) is when the user is making a repayment to a financial entity (180) from the country of origin. Therefore, the transaction occurs in the same country.
  • International repayment (232) as previously described, is when the user wants to make an international transaction from another country to the country of origin.
  • the user is them prompted to select the financial entity (240) of which repayment is to be made to.
  • the user then proceeds to key in a borrower's information to identify the borrower's microcredit account.
  • the information may include, but is not limited to a mobile phone number or a microcredit account number.
  • a user may also produce a secured card or token and/or a personal identification number (PIN).
  • PIN personal identification number
  • the cameras installed at the kiosk may be used to identify the user.
  • the mobile phone number is used to identify the borrower.
  • the mobile phone number is associated with the borrowers' microcredit account. It should be noted that when keying in the mobile phone number for an international repayment, the country code may be included.
  • the system proceeds to check the secured card, token, PIN, account number or the mobile number .to correlate it to a particular borrower's account using the information stored in the database server (141). If the secured card, token, PIN, account number or the mobile phone number is valid and is correlated to a borrower's account, the user is prompted to select a payment denomination option from a number of preset denominations. In a preferred embodiment, the user may also key in the payment value without selecting from the preset denominations.
  • the program then prompts the user to make the payment by cash deposition or other means of payment.
  • the program displays the payment selected and the cash deposited, alongside the information of the microcredit account for confirmation.
  • the information of the borrower and the value of the payment are sent to the application server (142) or the Internet cloud (150) to be communicated to the financial entity (180).
  • the repayment kiosk (100) then proceeds to print a receipt or a voucher as proof of payment.

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  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Engineering & Computer Science (AREA)
  • General Physics & Mathematics (AREA)
  • Physics & Mathematics (AREA)
  • General Business, Economics & Management (AREA)
  • Strategic Management (AREA)
  • Theoretical Computer Science (AREA)
  • Finance (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Marketing (AREA)
  • Technology Law (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

L'invention concerne un système et un procédé de remboursement de microcrédit, qui comprennent des kiosques de remboursement (100) permettant de recevoir un paiement provenant d'emprunteurs. Les kiosques de remboursement (100) forment un réseau (110) qui se connecte à une pluralité de serveurs (140 - 142) et/ou à un nuage Internet (150) par l'intermédiaire d'un commutateur de réseau (160). Le système comprend au moins une entité financière (180) qui octroie des microcrédits à des emprunteurs. Les kiosques de remboursement (100) sont placés dans des zones dans lesquelles la population d'emprunteurs de microcrédit est élevée et dans des zones rurales et accessibles aux pauvres, ainsi que dans d'autres communautés peu équipées en banques. Des données d'emprunteurs et des coupures de paiement sont introduites par l'intermédiaire d'un programme installé dans les kiosques (100), et sont transmises à la ou aux entité(s) financière(s)(180) par le nuage Internet (150) ou par la pluralité des serveurs (140 - 142), par l'intermédiaire d'une connexion ou d'un protocole sécurisé(e).
PCT/MY2012/000222 2011-08-03 2012-08-02 Système et procédé de remboursement de microcrédit WO2013019103A1 (fr)

Applications Claiming Priority (2)

Application Number Priority Date Filing Date Title
MYPI2011003615 2011-08-03
MYPI2011003615 2011-08-03

Publications (1)

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WO2013019103A1 true WO2013019103A1 (fr) 2013-02-07

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Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US9998873B2 (en) 2016-01-11 2018-06-12 International Business Machines Corporation Prioritizing customer follow-up actions based on mobile device location data

Non-Patent Citations (8)

* Cited by examiner, † Cited by third party
Title
"Bibliography of Resources on Non-Mis Technologies and Microfinance", USAID, April 2006 (2006-04-01) *
"Remote Transaction System - Solution brief", WHITE PAPER, 2005 *
"Webpages from www.safaricom.co.ke" *
BARTON, S. ET AL.: "Client-Focused MFI Technologies Case Study", USAID, January 2007 (2007-01-01), pages 14 *
HUGHES, N. ET AL.: "''M-PESA: Mobile Money for the ''Unbanked'' Turning Cellphones into 24-Hour Tellers in Kenya''", INNOVATIONS: TECHNOLOGY, GOVERNANCE, vol. 2, no. 1-2, 2007, pages 63 - 81 *
MAGNETTE, N. ET AL.: "What Works: Scaling Microfinance with the Remote Transaction System", August 2005 (2005-08-01) *
MAS, 1. ET AL.: "Designing Mobile Money Services Lessons from M-PESA", INNOVATIONS: TECHNOLOGY, GOVERNANCE, vol. 4, no. 2, 2009, pages 77 - 91 *
MORAWCZYNSKI, O.: "Examining the Adoption, Usage and Outcomes of Mobile Money Services: The Case of M-PESA in Kenya", PHD THESIS, 4 July 2011 (2011-07-04), pages 60 *

Cited By (1)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
US9998873B2 (en) 2016-01-11 2018-06-12 International Business Machines Corporation Prioritizing customer follow-up actions based on mobile device location data

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