Renewable Green Leaders Magazine: Promoting a Sustainable Future for Generations to Come by Dubai Electricity and Water Authority (DEWA)

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Will PAYG Be The Next Leapfrog That Disrupts Traditional Economies? Stefan Zelazny Chief Information Officer Mobisol When Mobile Money had its breakthrough in East Africa some five years ago it was seen as a regional answer to an existing deficit. A second-best solution to the lack of traditional banking. This view has changed dramatically. Mobile Banking is now clearly a disruptive technology that will change the classical consumer banking sector in countries that have a traditionally developed banking sector. New, customer-centric and “mobile first” banks become popular in Europe and the US. Alipay is going to be the most popular consumer payment system in China and on the brink to spread out into the world. Traditional 44 Renewable Green Leaders • July 2017
anks have more and more problems competing with these challengers. The Mobile Money example shows that technologies and processes we have known for years and thought to be immutable can be disrupted within a very short period of time. The question that arises here is: what will be the next leapfrog technology that will be developed in Africa, succeeds there and then disrupts the traditional economies? Let’s have a look at Pay As You Go (PAYG). This technology allows the automated enabling and disabling of use cases depending on repayment status for financed products. The biggest representation of this technology is the off grid solar sector in East Africa. One million PAYG enabled solar products have been sold in 2016 alone. The yearly growth rates are tremendous. The technology was introduced in East Africa around 2010 and has proven to be an effective method to keep down operational costs of collecting repayments from customers in rural and remote areas. Compared to the traditional brick and mortar Micro-Finance Institutions approach, the costs of financial operations went down dramatically. This allowed the distributors of PAYG enabled solar products to reach more and more people with low incomes. Right now, the technology is predicted to be the “silver bullet” for solar home system distribution (http://hystra.com/a2e). But what is PAYG really about? In a nutshell - it leapfrogs the missing trust that is normally created through the reliability of a legal system. In traditional economies, trust between business partners is artificially created through the governmental guarantee of a legal system. If your business counterpart does not pay its bill - you go to court. This works well and allows - even across borders - the modern economies to work at all. Renewable Green Leaders • July 2017 45
Page 1: RENEWABLE GREEN LEADERS Bio | Geoth
Page 5: Sponsored Article Paulaner brewery
Page 8 and 9: John Vauden Senior Editor Asia-Paci
Page 10 and 11: Contents Kingspan PalDuct For Dubai
Page 12: Kingspan PalDuct For Dubai Sustaina
Page 15 and 16: Dubai Electricity and Water Authori
Page 17 and 18: The building will aim for a LEED Pl
Page 19 and 20: Managing Director and Chief Executi
Page 22 and 23: Dubai Science Park - Delivering Exc
Page 24 and 25: - Faster seed germination - Improve
Page 26: Minister of Climate Change and Envi
Page 29 and 30: Commercial Viability Of Battery Bas
Page 31 and 32: A quick and easy way to determine t
Page 33 and 34: must be connected to or powered
Page 35 and 36: is then recycled; therefore, vertic
Page 37 and 38: How long did the project take to co
Page 39 and 40: Renewable Green Leaders • July 20
Page 41 and 42: Investments are down. Although glob
Page 43 and 44: Photo courtesy of ABB MBR Solar Par
Page 45: Photo courtesy of ABB Photo courtes
Page 50 and 51: Connecting The Dots: For A Sustaina
Page 52 and 53: meetings with the team. Here we do
Page 54 and 55: Ivano Iannelli CEO Dubai Carbon Iva
Page 56 and 57: The Technology Behind the World’s
Page 58: Age-Old Technology Is Making Its Wa

Renewable Green Leaders Magazine: Promoting a Sustainable Future for Generations to Come by Dubai Electricity and Water Authority (DEWA)

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