ConfirmU Credit

Partnership Proposal – Draft version

January 2024

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 Agenda

1 Proposed Deal Principles

2 Support Areas

3 Deal Details

Leveraging on Visa Digital

4 Roadmap

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Visa Confidential
 1 Understand
Working with Visa your market
What partnership looks like

Invision Prototype

Click to View

2 Design a customer
value proposition

Click to View

3 Launch your
Continually improve product
4
your product

4 Visa Epic Experiences 2019 Visa Confidential

Visa makes it quick & simple…
Visa’s Fintech Fast-track program is committed to
getting you to market at speed, with trusted partners
and competitive terms
Program Eligibility
Visa welcomes digital first players, who are new to Visa and
are building digital wallets, neo-banks and alternative
lending solutions to join the Fintech Fast-track Program

Go live rapidly with dedicated partners. Attractive and transparent pricing.

Express Activation Commercial Incentives

Speed Simplicity Support Value Access

5
Visa to support ConfirmU through an
Incentive Deal

Visa to provide incentives to ConfirmU on:

• Implementation Fee Waivers

• Launch and Marketing Support
• Value in Kind
• Issuer Core Fee Rebates

6
Proposed Deal Principles

1 Enable and grow ConfirmU Card in Vietnam

Support ConfirmU to launch Consumer Credit Card

Products in Vietnam and grow ConfirmU' portfolio
through Visa’s set-up support and on-going financial
incentives

Provide Visa Value-added services for ConfirmU

2 to offer relevant and differentiated customer
experience
Support via Value-in-Kind services from Visa
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Agreed Projection Volume for 5 years

Payment Volume*: $953M

*payment volume means spend volume at POS/ecommerce

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Most likely scenario: Indicative Financial Offer: 5-Year Support of $976K
Support
Type Amount Details Terms & Conditions
Areas

Visa License Fee +

• Waiver is only applicable up until end of Y2 for deal term
Implementation One time few waiver up to
Fee Waiver
Fixed $30K $30K
• Full clawback if Product not launched by September24
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early

• Exclusivity under Fintech Fast Track Program Terms

Launch Support Fixed $50K Paid out upon completion of • Must launch Visa Products by September24. ConfirmU to submit a Launch Notification and any materials to provide proof
Product launch of product launch
• Available for payment at the beginning of each contract year and submission of agreed plans signed off by both Visa and
ConfirmU
Up to $25K each year in Y1 • 100% of incentive to be reinvested into thematic marketing program, CVP, launch and technical vendor engagement for
MKT Support Fixed $50K & Y2 the program support for the issued cards
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early
• By end of deal term, pro-data claw back if not achieve the total PV projections (Y1-Y5). Calculation based on Visanet data
• Available for VIK drawdown upon mutually agreed plans in calculation year
• VIK/VAS, which include consulting, program analysis, marketing strategy development & services, Visa Business School
VIK Fixed $50K Up to $50K
training and other eligible consulting services. If used as VAS, this fund is also available for new to client VAS products
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early
• Paid out as rebate annually
Issuer Core Issuing Fee • Launch a Visa exclusive product / program and must remain exclusive for 5 years
Rebate: • All incentives paid out to be reinvested in growing ConfirmU Card Programs. ConfirmU to provide annual notification to
Y1: 100% Visa.
Visa Core Issuer Approximate:
Variable Y2: 60% • 15% of the earned incentives will be paid in Value-in-Kind (VIK) to be used for Visa Value-Added Services (VAS), which may
Fee Rebate $796K Y3: 50% include consulting, program analysis, marketing strategy development, industry benchmarking, and other eligible or
Y4: 40% mutually agreed to services
Y5: 35% • Incentive payout corresponding reduced by 15% set aside for Visa VAS.
• The VIK Usage Period for the last calculation year is 12-months post deal term.

Please note that this is the drat offer and would be subject to final approval of Visa.

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Best scenario (120% KPI): Indicative Financial Offer: 5-Year Support of $1.4M
Support
Type Amount Details Terms & Conditions
Areas

Visa License Fee +

• Waiver is only applicable up until end of Y2 for deal term
Implementation One time few waiver up to
Fee Waiver
Fixed $30K $30K
• Full clawback if Product not launched by September24
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early

• Exclusivity under Fintech Fast Track Program Terms

Launch Support Fixed $50K Paid out upon completion of • Must launch Visa Products by September24. ConfirmU to submit a Launch Notification and any materials to provide proof
Product launch of product launch
• Available for payment at the beginning of each contract year and submission of agreed plans signed off by both Visa and
ConfirmU
Up to $25K each year in Y1 • 100% of incentive to be reinvested into thematic marketing program, CVP, launch and technical vendor engagement for
MKT Support Fixed $50K & Y2 the program support for the issued cards
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early
• By end of deal term, pro-data claw back if not achieve the total PV projections (Y1-Y5). Calculation based on Visanet data
• Available for VIK drawdown upon mutually agreed plans in calculation year
• VIK/VAS, which include consulting, program analysis, marketing strategy development & services, Visa Business School
VIK Fixed $50K Up to $50K
training and other eligible consulting services. If used as VAS, this fund is also available for new to client VAS products
• Exclusivity to Visa within the contract term. Pro-rata clawback if client breaks exclusivity or terminates the contract early
• Paid out as rebate annually
Issuer Core Issuing Fee • Launch a Visa exclusive product / program and must remain exclusive for 5 years
Rebate: • All incentives paid out to be reinvested in growing ConfirmU Card Programs. ConfirmU to provide annual notification to
Y1: 100% Visa.
Visa Core Issuer Approximate:
Variable Y2: 75% • 15% of the earned incentives will be paid in Value-in-Kind (VIK) to be used for Visa Value-Added Services (VAS), which may
Fee Rebate $1.18M Y3: 50% include consulting, program analysis, marketing strategy development, industry benchmarking, and other eligible or
Y4: 50% mutually agreed to services
Y5: 50% • Incentive payout corresponding reduced by 15% set aside for Visa VAS.
• The VIK Usage Period for the last calculation year is 12-months post deal term.

Please note that this is the drat offer and would be subject to final approval of Visa.

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Proposal Assumptions / Other Terms
• Contract term: 5 years
• Offer is valid till: 30 Jan 24
• Agreement start date: 1st day of the quarter following product launch
• Jurisdiction: Vietnam
• Product: Consumer Credit Product
• Automatic renewal of exclusivity and contract until the total PV Target is met. Year 5 incentives to apply in this extended
term for PV Volumes. Maximum extension up to 2 years i.e. maximum total deal team of 7 years.
• Exclusive partnership between Visa and ConfirmU
• No double payment of incentives. Programs directly contracted with Visa for incentive agreements will not be covered
under the total bank volume calculation in case of BIN Sponsorship.
• Programs that receive incentives to remain exclusive with Visa. Pro data claw back of incentives if exclusivity is broken.

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 Thank You

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