Country: USA
Year: 2013
- Leverage on new technology: mobile penetration rate is important in developing countries
- Easy subscription: no need to see an agent
- Painless (does not hurt purchasing power): savings triggered for small amount of money
- Automated savings: savings linked to consumption
- Liquidity: no constraints due to complex contract clauses
Concept
During a sale, the vendor keeps the change and sends money to the customer Pulse’s savings account linked to its mobile number:
- Immaterial: with their earnings, people buy Pulse cards that accredit money on their account
- Painless: during the sale, the vendor keeps the change and stores credit to the customer’s Pulse account
- Money management: the customer receives an SMS with their balance account for each transaction
25 women used the pilot project and their family budget increased by 12%:
- Food-security: each family have 14 more meals than before
- End of barter economies: due to lack of coins, customers used to receive pointless items (shampoo, candies…) as change. Now their accounts receive the change after sale
How to use it
- This video shows how Pulse can make us save money