telepass Flashcards
main issue
should they go into their insurance or stay with their telepass
company overview
introduced in. 1990 to streamline traffic during the World Cup in Italy
was a tolling service
owned by the Atlantic group
OBU unit
Italys oldest fintech
telepasspay
broad mobility platform offering wider services: fuel payments, bike sharing, parking, train tickets
you can bundle together these services in one device
gave telepass good info
only existing telepass subscribers could sign up
download the app and sign in with teelpass info
cresting an ecosystem –> 3-15 services, more services= more value
economics*****
emerging mobility services industries
italy is among eu most expensive highway system covid 19 increased electronic payments and decreased usage of mobility services
demographics*****
multi model future and shifting mobility preferences
tech savvy younger population is more inclined to use digital platforms
political and legal
compliance reqyiremmts impacting data use and digital ppayemts
gvt incentives for digital payments
regulations concerning EU
GDPR –> companies have to protect consumers privacy , very costly penalties
gvt was planning to launch a program that would reward consumers who used digital payments methods
know your customer rule
sociocultural
traditional cash transaction culture –> italeins perffered cash
conservative approach to banking
car ownership was seen as a part of adulthood if you lived in Italy but today we want scooters
increase in bike sharing, scooter sharing
technological
adoption of digital platforms and data driven services
rise of mobility as a service
porters
buyers: consumers have some leverage due to the availabiluy of substitute s, less likely to switch once integrated into telepass ecosystem , tele offers very competitive pricing and high convenience which is valued by consumers , merchants and customers
suppliers: depends on cloud service provider like google cloud and mobility tech partners, partnerships arent exclusive but important, also depends on highway operators
new entrants: high capital costs regulatory compliance, robust ecosystem are entry barriers, have to create relationships with governing bodies, new entrants can come in and disrupt
subs: cash, other digital payment, pricing power on telepass which may limit telepass ability to charge premiums for their convenient service offerings
rivarly: many competitors, fragmented market with low switching costs and cultural resistance to change, PayPal , postepay, same offerings
industry size
the industry is the mobility and fintech industry that includes toll oayennets
annual transact volume of 7bn for telepass
digital payments segment in Italy was worth 270 bn in 2019
industry growth
substantial growth potential
telepasspay revenues grew by 76% from 2019-2020
increasing urban mobility, preference for shared services and gvt incentives for digital payments drive grwth
digital payment has grown by 109%
movile payement apps are growing
trends
rise of multimodal trasnpoation, car sharing
slow but growing adoption of digital payments
data driven personalization in services
post covid mobility shifts
regulatory pressures favouring transparency ( there are restrictions imposed on companies facilitating digital payments) and consumer rights
sharing services were emerging
opportunities
expanding into multimodal mobility services
growing insurance
leveraging data analytics for personalized services
emerging tech
sustainability
expanding to europe
uniform merchant service
threats
regulatory risks and compliance costs
intense competition
cultural resistance to digital payments (want to stick with cash instead)
tech avdnacennts
strengths
strong brand recognition and reputation (can hire good people, consumers trust the company and dont even check their bill)
pricing power and cost advantage (Lower than tier companies)
technological leadership
unique and diversified offerings
uniform and convenient platform
not long wait times
first mover advantage
first to use DSRC
status to have telepass
cross selling through the app
good at navigating the regulatory
weaknesses
dependence on tolling revenues
customer perception –> only as an OBU company
technological knowledge gap (they had always worked with IBM so they were having trouble adjusting to data lakes)
high investment rewuirennts for new services
existing assets and capabilities were being underanalyzed, they had a lot of data but never considered how important it is
telepass doesnt share its data with merchants
finance
processed 7 bn in annual transactions
revenues grew by 76%
in 2016, revenues totaled €168 million
Hr
hired cerveillin (15 years of data analytics experience)
diversified employment
investing in people who had skills with this tech (data science )
hired people fro different sectors who were doing
also hired people who had soft skills ( t factor)
their employees had been knowledgeable in the transpiration industry but needed pole who knew data
information systems
relies on DSRC tech and It systems to manage operations
enhances efficiency
used the telepass pay to gain information about customers
data driven processes
google cloud data storage
distribution***
direct dis of OBU devices
partners with toll operators to ensure service availability
across various segments
operations*****
uses OBU devices for high transaction success rate
expanded operations
uses the DRSC tech
supply chain amangeemt
focus on partnerships with toll operators and mobility service providers
collaborates with cloud providers
marketing and slaes
promotes itself as a convenient mobility service that saves customers time and money, also simple
consumers were having a hard Time separating teelpass from the tolling sp have to market well
they were going to store all of their customer data in one place which would help build their marketing
follow up services
high emphasis on customer satisfaction
