Saumya Sindhwani, Lakshmi Appasamy
Singapore Management University (SMU162-PDF-ENG)
October 10, 2017
Set in December 2016, the case follows Sumeet Mehta, CEO of Cardpe Services Private Ltd, a fintech startup established to tap into the gap that existed in the payments acceptance infrastructure in India. Cardpe was all set to launch a mobile PointofSale (mPOS) device a wireless handheld integrated unit that processed credit/debit card payments. Cash was a predominant medium of transaction in the country but the government was accelerating digitalisation and promoting measures to move towards a lesscash economy. Measures were underway to bring the largely unbanked public into banking network. Correspondingly, debit and credit card issuance was also growing. However, the availability of point of sale (POS) devices that could process credit / debit card payments was insufficient and it continued to focus on large urban retailers. Due to this deficit, the use of the card for payments remained low. Cardpe was intended to target merchants in Tier II and Tier III cities, largely ignored by acquiring banks, aggregators, and e-wallet companies. Mehta had to assess the market potential for mPOS in an increasingly dense market and assess the opportunities compared to Cardpe in the target market and re-examine Carpe’s Gotomarket strategy. This case provides the opportunity to learn about the innovation adoption model and the challenges associated with changing market behavior; and develop a marketing strategy to overcome product adoption barriers. The case would also help students understand how market data and information on evolving scenarios are applied and integrated to estimate the market size of a product / service.
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