Introduction To Fullrich Malaysia Solutions

INTRODUCTION TO
FULLRICH &
TAPAY
Under Malaysia’s Economic Transformation Programme, Specific Targets Have Been Identified By The
Government And Implementation Is Currently Being Led By Bank Negara Malaysia:
by 2020:
EPP4: Reduce dependency on cash to 63% of total transactions
Creating an Integrated
Payment Ecosystem
Increase e-payments to 200 per capita
Achieve 25 point-of-sale (POS) terminals per 1,000 inhabitants
Achieve 30 debit transactions per capita
Private & Confidential – Not for Distribution or Reproduction 2

Stronger Push Needed To Achieve Targets
E-Payment Transactions Per Capita1 Share of Cash in Number ofTransactions2
Payment
Landscape
In Malaysia
“Low Penetration of e-Payments” “High Usage of Cash”
“Low Number of POS” “Large # of Debit Cards… not being used to pay”
POS per 100,000 Adults3 Key Ratios
45 :30 population
debit cards 4
10% debit payments 1 :8 cash withdrawals 4
12010 Realized against

22010 Reference: Bank Negara
3 2009
4 2010
20-20 target

Various Public And Private Initiatives Have Commenced To Invigorate The Adoption Of A
“Cashless Lifestyle”:
Public Initiatives Private Initiatives

Entrance into
cashless market
Introduction to market
Lower rate
than credit Fresh funding into local payment entities, such as:
card schemes

Today, There Are Two Categories Of Cashless Payment Providers: Banks and TPAs
Banks TPA
s
Key market segments served:

Large merchants such as franchises and MNCs. Key market segments served:
E-commerce platforms of large merchants, online
Rates: marketplaces such as Lazada and Zalora.
Between 1 % to 3%.
Rates:
Notes: Between 1.5% to 4%.
Usually provides other financial instruments to clients.

The Problem: There Is A Large Underserved Community of
Entrepreneurs
Majority microenterprises
Annual turnover <RM300,000 OR less than 5

full-time employees
Annual turnover RM300,000 to >RM3 million OR

5 to >30 full-time employees
Annual turnover RM3 million to >RM20 million

OR 30 up to 75 full-time employees

Enter: Fullrich Beijing and Fullrich Malaysia
Why Are We In Business?
We want to remove barriers to business and growth by making it easier for individuals and entities to realize their dreams
1 without worrying about payment processes and security.
We want to make the transfer of funds safe, seamless and painless wherever and whoever you are, in order to give you
2
peace of mind.
We believe that in doing so, we make the world ‘flatter’ and ‘closer’ – by providing everyone equal opportunity and
3 encouraging the flow of goods, services and ideas across borders.
Why Are We
Here?
Mobilizing experience and proven

technology to realize Malaysia’s
vision of a cashless society
Established thank to Cyberview Sdn Bhd and Tan Sri Irwan Serigar

Beyond Payments –A Broader Problem
A cashless society is more than just enabling the acceptance of debit /credit cards in person or online.
It is an eco-system that supports a technology-led lifestyle – where everyday tasks are executed via handheld devices quickly
and easily.
But for a nation with only 56 e-payment transactions per capita in 2012 (Source: BNM “Electronic Payments On The Rise”),
how do we create an eco-system that encourages e-payments and the greater use of technology?
We need a Smart Nation.

Pilot: The Cyberjaya Smart City Project with Cyberview
As part of Cyberview’s Smart City initiative, which aims to transform Cyberjaya into
a Global Tech Hub, the company has actively encouraged local and international
entrepreneurs to invest and co-create in Cyberjaya.
APRIL 2017 MAY 2017 ONGOING

Secretary General of Malaysia’s Fullrich Beijing signed a Per terms of the MoU, Fullrich is
Ministry of Finance and Chairman of Memorandum of Understanding working to turn Cyberjaya into a
Cyberview Tan Sri Irwan Serigar with Cyberview in May 2017, regional Financial Technology hub,
visited Fullrich Beijing’s witnessed by Prime Minister Dato’ starting with the introduction of its
headquarters and R&D center. Sri Najib Razak and Tan Sri Irwan (localized) e-wallet in order to contribute
Serigar. to the Malaysian cashless society
agenda while elevating technological
adoption and innovation in Malaysia.

Fullrich Has Already Leapfrogged Its Competitors In Malaysia Through The Smart
City Cyberview Project Which Will Launch November 2017

PART II:
STRATEGY
1. Key Stakeholders: Barrington Group, Fullrich
Beijing, and Affin Bank
2. Structure & Business Plan of Fullrich Malaysia
3. Fullrich Malaysia’s Solutions
Fullrich Malaysia is Supported by Strong Partners with a Single Shared Objective:
“Make Fullrich the Dominant Cashless Solution Provider in Malaysia.”
FULLRICH BEIJING
Technology specialist
and provider
Sponsor bank
DEALER NETWORK
Go-to-Market Ground Smart city model and
Troopers enabler

Through This Unique Relationship, Fullrich Offers A New Model That Nobody In The
Industry Has Implemented Before; In Turn Offering Tremendous Value To Custome rs
MEET OUR 5 S’S
Speed Scale Security Simplicity Sophistication
• To market: via • For merchants: dealer • Bank-grade: • QR Code: a method of • The Forefront: Fullrich
partnership with Affin network allows Fullrich partnership with Affin identification & Malaysia will continue to
Bank (rolling out to its to reach merchants Bank means all Fullrich transmitting of data that introduce the latest
existing merchants) and across industries and processes must pass has been in place international
Cyberview (rolling out in locations quicker and Bank Negara Malaysia globally (and in technologies such as
Cyberjaya) more cost-effectively, requirements. Malaysia) for years, QR retina-scanning features
thereby allowing Fullrich codes are simple to roll (for enhanced security).
• To set up: merchants to scale faster. • International out and use. Advancements to
onboarded in 48 hours; standard: Adherence Fullrich’s solutions will
users onboarded • For users: size & to all required / • Experience: Fullrich be rolled out only upon
immediately growth rate of voluntary standards Malaysia is committed approval from Bank
marketplace and within the industry e.g. to ensuring a smooth, Negara Malaysia, and
• To grow: via partner number of merchants PCI DSS. seamless and simple only with the support of
and dealer network, accepting Fullrich experience for relevant partners.
Fullrich reaches across solution (whether as merchants, users, and
Malaysia and the region. Fullrich app or white- dealers – from signing
labeled) means up, to daily usage, to
consumers are able to transfer of funds, to
use our solution across issues management.
daily life.

Fullrich, An Experienced Payment Provider From China, Is A Perfect Match That Can Offer
Malaysians An End-to-end Cashless Experience Through Well-proven Technology Offerings
FULLRICH (Stock code: 839084) Market Cap: USD200m Fullrich provides third-‐party payment agencies with various
solutions, including:
A 3rd party payment system and service provider with core
independent R&D technology and recognized and registered • Prepaid card system
software enterprise qualifications. • Internet payment system
• Aggregated payment system
• Smart city system
• Value-‐added and anti-‐money laundering system
• Risk control provisions verification system
• License application etc.
Fullrich’s Xiang Fu Bao Aggregates ALL Top Chinese Payment Solutions Within A
Single eWallet App
The development and advancement of mobile

payments provides merchants with convenient
aggregate platforms that accept (and process) a variety
of payment methods such as:
Bank /debit
cards
1. AliPay payment code
2. WeChatPay payment code
3. Bank /debit cards
4. Cash, coupons, micro red packets
5. Credit cards
Our solution also provides daily cash reports (to give

merchants an overview of their business), which
eradicates manual bookkeeping (and therefore reduces
errors in reporting) and saves time.
Coupons and
red packets

Fullrich’s large business footprint in China is proof of its experience and trustworthiness, all
of which can be successfully replicated in Malaysia for enhanced customer confidence
• Service Area: All over China

• Main Areas:
o Beijing
TRACK RECORD
o Fujian
2016 (Audited):
o HeBei
50 billion transactions
o ShanXi 35 million business partners
o DongBei
o Shandong ON TRACK
o SiChuan 2017 (Projected):
o AnHui 150 billion transactions

o JiangSu 60 million business partners
o GuangXi
o HaiNan
o YunNan etc.
• Dealerships: approx 10,000
• Business Partners: 35 Million
How We’re Getting There
International Standard, Bank-Grade Security Wide-range of Offerings Value-Added Solutions
Something for Every Industry /
Merchant /Consumer
Security
PCI DSS
certification
Illegal
businesses Blacklist database
blacklisted
Fraudulent
Anti-fraud transactions
system blacklisted
• Coupons and cash-back systems,

Daily
Transaction in addition to loyalty points and
transaction
monitoring points for referrals
monitoring
• RFID bracelet /wearable tech
Identify integration
money • Data analytics: trend analysis and
System monitor laundering predictive analysis
transactions • Geo-targeting for flash deals /
to prevent targeted promotions
risks • Storage of all loyalty cards across
programs within app

Together With Strong And Effective Local Partners, Fullrich Can Provide Best In
Market Offerings To Its Customers
Lower cost of No limits: our products Merchants receive Seamless We provide merchants
processing can be used by bank-grade integration with with the ability to
payments customers of any bank, security, and the legacy Point of Sale significantly automate
on any device, across peace of mind (POS) solutions and processes through
any telco provider. from Affin Bank, ECR devices. This added device-agnostic
which is reduces errors, enhanced technologies
responsible for report duplication, such as kiosk and
settlement. and transaction mobile solutions.
settlement costs.

Solution: Street Parking
USER
4
Countdown begins in-app until
expiry of parking – user will receive
notification when parking is 15
1 User parks car in council User opens app and scans 3 User inputs license plate and minutes from expiring with option to
2
designated lot along the street QR code on council sign duration, then confirms payment renew in-app.
board in-app.
ENFORCEMENT
1. Enforcement officers check app to verify parking status of cars along the street.
2. If user has exceeded time limit, officer takes picture of vehicle (including license plate) within app.
3. Image (with time-stamp) sent to user along with notification of fine.
4. Fines can be paid in-app via debit or credit card.
Officers
1. Security cameras along the street log license plates and match against parking
payments made via app.
2. When user has exceeded time limit on parking payment, user is notified of fine in-
app, along with camera image (with time stamp) and system log of parking payment
and duration received.
3. Fines can be paid in-app via debit or credit card.
Automated
Private & Confidential - Not For Reproduction or Distribution © Fullrich 19

Solution: Parking Complex
Security camera
Option 1: Entry Option 1: Exit captures license plate
Security camera captures and time of exit
license plate and time of 1
entry Driver opens app, keys
in license plate
Gate opens and 3

driver drives off
• App calculates parking
fee based on license plate
Option 2: Entry Drive to verification
Option 2: Exit • Driver confirms payment
Driver searches selected
available parking parking lot
bays
1 2
3
Driver
confirms
3 At boomgate, Driver payment
1
driver 1 reaches
connects via boom gate
Bluetooth / and opens
scans QR app
code /flashes
QR code for Feeds
4 2
scanning parking fee
• B oomgate
to app
opens
• Connects to
server to notify
time of entry and
driver ID
4
Boom gate
Private & Confidential - Not For Reproduction or Distribution © Fullrich opens 20
Solution: Public Transport
Departure
If sufficient balance: No payment deducted, gate /
validator automatically allows boarding while holding
Access train platform or maximum trip cost.
1 OR
bus by flashing QR code
on reader at gate. If insufficient balance: Access denied until user tops up
e-wallet funds.
Arrival
Fare amount deducted, app releases
extra amount held at boarding back into
2 wallet.
Turnstile opens /passenger exits. Behind the scenes: Fullrich transfers funds from
Individual arrives user’s account within Fullrich’s Affin Bank Trust
1 Account to transport operator’s account within the
at destination,
flashes QR code same Trust Account.
on reader at gate
/door

Solution: Tourist Spending & GST
Tourist informed of Tourist downloads Malaysian

1 2 app, completes 3 Customs
app en-route to
Malaysia /upon basic profile and Department
arrival includes payment notified for GST
method Payment methods refund purposes
accepted: credit card,
debit card, WeChat Pay,
AliPay, etc.
Relevant
embassy (of
tourist’s
Tourist can earn nationality)
coupons by giving alerted for safety
feedback /reviews and security
Vouchers / coupons and complimentary purposes
travel guide included in app to promote
local stores / attractions.
When shopping: Customs Department notified of

1 • Tourist provides QR code to 2 GST to be refunded, prepares
stores to scan refund in real time
• Tourist can also opt to pay
with app
Departure from Malaysia: Tourist Customs Tourist feedback

1 goes to Customs booth, refunds GST shared with Tourism
2
provides QR code for scanning into account Malaysia for filing /
provided by action
tourist in app

Solution: F&B & Retail: Payment Using E-Wallet
Purchase & transfer funds via QR code /selecting merchant ID in app

1
Goods & receipt (print or digital)
Funding for e-wallet Withdrawal from e-wallet
Example QR Code
Vending Machine in
China taken from
Google Image search
without permission.

Solution: Money Changer: Payment Using E-Wallet
Purchase & transfer funds via QR code /selecting merchant ID in app

1
Goods & receipt (print or digital)
Funding for e-wallet Withdrawal from e-wallet

Solution: Hospitality: Booking and Check-In
Booking & payment info

1
2
Booking confirmation &
QR Code
1 Arrival at hotel, self check-in via app

/kiosk or at counter
2
Unique QR code generated and sent to
customer’s app
3 Access hotel room by

flashing unique QR
Code at door
(equipped with QR /
Barcode scanner)
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Solution: Hospitality: Purchases and Check-Out
1
Room service /laundry request; concierge requests
2 Acknowledgement & deduction of payment (if any) upon presentation of customer’s unique QR code
3 Goods /service & receipt (print or digital)
Customer’s QR code scanned as confirmation

– QR code disabled immediately upon
Check-out via app, kiosk or counter, confirmation of check-out by hotel and by user
1 confirmation of any additional expenses
etc.
2
Receipt provided (physical or digital), request for feedback
3
Provide feedback /review
4
Voucher /loyalty rewards

Solution: Primary / Secondary Education: Enrollment
Parents enroll child:
• Funds put into student account
• Daily limits set
• Student receives RFID
wristband
School negotiates with

partner stores (for uniform /
books) and canteen
management for better rates
for students
School stores the funds and

programs student’s account and ID
card accordingly
Provides pool of funds for school to

generate additional income.
Private & Confidential - Not For Reproduction or Distribution © Fullrich 28 27

Solution: Primary / Secondary Education: Usage of Wristband
Spending at canteen / book store / vending machine
Transaction
Student uses wrist band to connects to school Account
1 2 3
purchase item on-site network: Screen updated
displays student’s
face and name.
Paying fees
Transaction
Student uses wrist band to connects to school Account
1 2 3 updated
pay school fees; teacher network: Screen
scans wrist band displays student’s
face and name.
Attendance
Allow parents to track child’s

• Teachers scan wrist bands to take attendance. whereabouts throughout the day
• Students scan wrist bands at doors upon entrance and exit. (also assists with pick-up after
• School tracks students’ locations via wrist band. school to reduce traffic around
school zones)

Solution: Tertiary Education: Enrollment
Parents enroll child:
• Funds put into student account Student-specific QR code
• Daily limits set pushed to student’s app,
• Approved and prohibited and printed on student’s ID
spending list set card
University negotiates with

stores on campus and
nearby for better rates for
students
University stores the funds and

programs student’s account and ID
card accordingly
Provides pool of funds for university

to generate additional income.

Solution: Tertiary Education: Usage of Smart Card / Phone
Spending On Approved Items
Student shows QR code (via ID Café scans QR code, amount Accounts

1 2 3
card or via app) at cafe deducted from student’s account updated
and sent to café’s account.
Spending On Prohibited Items
Student shows QR code at App refuses purchase,

1 2 3
bar /to purchase alcohol sounds alarm – shop /bar
owners notified via merchant
app
• Transaction denied
• Parents and university alerted immediately

Solution: Courier Services
1 2 3
Customer makes Order fulfilled and Order reaches customer, delivery
purchase on e- dispatched team can collect additional fees /
commerce /m- duties etc in person using QR code
commerce and scanner
Customer receives tracking number, logs on to courier service’s app for

notifications, tracking, payment of additional duties /taxes /fees,
request changes to delivery location /time, nominate another person to
collect on behalf, etc.

Solution: Petrol Station: Self-Service & Store
Payment: E-Wallet at self-service – machine scans customer’s QR Code OR

1 customer scans each machine’s unique QR code and enters transaction amount
Receipt, petrol and loyalty points /rewards

2
Behind the scenes: Fullrich transfers funds from

user’s account within Fullrich’s Affin Bank Trust
Account to station’s account within the same Trust
Account.
Payment: E-Wallet in-store – staff scans customer’s QR Code

1
Receipt, petrol and

2
loyalty points /rewards

Solution: Medical: Hospital –Making An Appointment
Make booking via app: provide personal & payment information,

1
insurance information (if any), nature of appointment (for
determining which department /doctor to see), details of
appointment
Confirm booking & generate unique QR code

2
If booking made 3
4 5 6
using corporate
account / Pull up patient Notify relevant
insurance: notify records /begin doctor(s) and share
individual’s creating record information on
employer Notify insurer and patient
based on
request information
information
on sum /type of
gathered from
treatment insured
individual and
insurer

Solution: Medical: Patient Check-In & Treatment
Check-In via kiosk Notify patient’s employer (if using

/at counter by corporate account) and insurer (if
flashing QR code relevant)
1 2
3 Hospital prints QR code for

patient forms and for patient
wrist-tag
Nurses scan all items /

medication used, and scans
1 patient’s QR code to log to 3
patient’s account in system
Update insurer (if
immediately
relevant) as it
happens
Doctors input diagnoses,
1 test results, time spent
Hospital updates patient records and cost

2 Insurer prepares
of treatment as-it-happens 4
payment

Solution: Medical: Checking-Out Of Hospital
1 Final bill & request for payment (if not covered by insurance)
3 Receipt sent to app
3 Dispense medication
Make payment by providing individuals’ payment QR code (if

2
not covered by insurance)
Make payment (if covered by

2 insurance)
3
Share
receipt (if
under
corporate
account)
1
3
Bill & request for
payment (if covered Update individual’s
by insurance) policy

Solution: Medical: Remote Care
1 2
App notifies discharged If medication running out,
patient about: individual can make purchase via
• Medication (schedule app
and reminders)
• Check-up (schedule and
reminders)
In case of
emergency:
individual sends
notification to 1
hospital via app 3
Hospital dispatches medication and
provides receipt
Individual can send updates /ask Medical team can engage

questions via app individual directly via app
2
Immediate alert issued at hospital
3
Hospital dispatches team to person’s home

Solution: Additional Services
App • Bill payments

• Council Fees (City councils)
• Airfare (AirAsia) purchase
1
• Bus & train tickets
• Education fees (public & private institutions)
8 • Credit card and loan payments
Notification & receipt
Kiosk • [APP ONLY] Push notifications for council announcements for
Website
2 citizens /businesses (such as tender alerts)
• Healthcare costs
Request 7
• Road tax renewal application
permission &
funds • Voter registration /change of address or other details
4
• Payment of fines (PDRM, council, etc)
5
• Track status of council applications & licenses
3
6 6 • Prepaid top-ups for cellphones, online shopping, etc
Send approval
and funds

How We Protect Users and Merchants
• Bank-grade • Insurance • Total observance • Observance of • Proof of identity requirements

security coverage of Trust of Bank Negara international • Proof of financial ability requirements
• Trust Account in Account by PIDM Malaysia rules Cardholder Data • E-KYC and KYC with Affin Bank
Affin Bank and regulations, security and • Ongoing monitoring of merchant and
including e- safety protocols user accounts
money license
requirements

Pricing & Package Options
Instead of customers keying in card information for purchases, users of

Fullrich’s e-wallet can pay and receive refunds via QR code.
Payments and refunds via QR Code
Cost of QR code and integration: None
Transaction fees and settlement Now 1% transaction fee, T+11 settlement
1: Only for Affin account holders; non-Affin holders to add +1 working day to settlement period
Payment analytics for better understanding of

consumer behaviors across demographics and Cost of analytics delivered monthly: None2
locations.
2: For basic analytics

THANK YOU
For Enquiries:
Nurul Hafiza |Marketing Manager of Fullrich Malaysia Sdn Bhd |
nurulhafiza@fullrich.com.my
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INTRODUCTION TO

Achieve 25 point-of-sale (POS) terminals per 1,000 inhabitants

Achieve 30 debit transactions per capita

Private & Confidential – Not for Distribution or Reproduction 2

E-Payment Transactions Per Capita1 Share of Cash in Number ofTransactions2

“Low Penetration of e-Payments” “High Usage of Cash”

POS per 100,000 Adults3 Key Ratios

10% debit payments 1 :8 cash withdrawals 4

12010 Realized against

Private & Confidential – Not for Distribution or Reproduction 3

Public Initiatives Private Initiatives

Private & Confidential – Not for Distribution or Reproduction 4

Key market segments served:

Private & Confidential – Not for Distribution or Reproduction 5

Annual turnover <RM300,000 OR less than 5

Annual turnover RM300,000 to >RM3 million OR

Annual turnover RM3 million to >RM20 million

Private & Confidential – Not for Distribution or Reproduction 6

Mobilizing experience and proven

Private & Confidential – Not for Distribution or Reproduction 7

We need a Smart Nation.

APRIL 2017 MAY 2017 ONGOING

Private & Confidential – Not for Distribution or Reproduction 9

Private & Confidential – Not for Distribution or Reproduction 10

Private & Confidential – Not for Distribution or Reproduction 13

MEET OUR 5 S’S

Speed Scale Security Simplicity Sophistication

Private & Confidential – Not for Distribution or Reproduction 14

The development and advancement of mobile

Our solution also provides daily cash reports (to give

Private & Confidential – Not for Distribution or Reproduction 16

• Service Area: All over China

o AnHui 150 billion transactions

• Coupons and cash-back systems,

Private & Confidential – Not for Distribution or Reproduction 18

Private & Confidential – Not for Distribution or Reproduction 19

Private & Confidential - Not For Reproduction or Distribution © Fullrich 19

Gate opens and 3

Private & Confidential - Not For Reproduction or Distribution © Fullrich 22

Tourist informed of Tourist downloads Malaysian

When shopping: Customs Department notified of

Departure from Malaysia: Tourist Customs Tourist feedback

Private & Confidential - Not For Reproduction or Distribution © Fullrich 23

Purchase & transfer funds via QR code /selecting merchant ID in app

Goods & receipt (print or digital)

Funding for e-wallet Withdrawal from e-wallet

Private & Confidential - Not For Reproduction or Distribution © Fullrich 24

Purchase & transfer funds via QR code /selecting merchant ID in app

Goods & receipt (print or digital)

Funding for e-wallet Withdrawal from e-wallet

Private & Confidential - Not For Reproduction or Distribution © Fullrich 25

Booking & payment info

1 Arrival at hotel, self check-in via app

3 Access hotel room by

3 Goods /service & receipt (print or digital)

Customer’s QR code scanned as confirmation

Private & Confidential - Not For Reproduction or Distribution © Fullrich 27

School negotiates with

School stores the funds and

Provides pool of funds for school to

Private & Confidential - Not For Reproduction or Distribution © Fullrich 28 27

Allow parents to track child’s

Private & Confidential - Not For Reproduction or Distribution © Fullrich 29 28