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PCKT Money Plc - Let your own money teach you

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anonymous 7 days ago

Hi,

I can find the fiscal report 2018 for PCKT Money Oyj and Devolon Oy from the attached files, but there are few questions to ask:

First of all, why can't I find fiscal 2018 from the official sources (as the attachements are not official)? I can find 2017 from official sources, but not from any material from Invesdor.

Secondly, there are no information of the Develon Oü's fiscal performance (except of general description it being profitable). Why is this? Also, I can see from the team of 17 experts, but official sources states 22. If there are 5 persons for admin, it seems quite high, imho. The cost structure is very difficult to analyze without any inside information. Also, I'd like to know the story behind the 20 427,23€ of unpaid tax arrears (that was recently paid).

Br, H.A.

anonymous
PCKT Money Oyj
4 days ago

Hi and thanks for the comments. 2018 fiscals are on process and should be available in public sources in the next few weeks. Devolon Ou doesn't have any sales; all the sales come from Devolon Oy from Finland. Ou has only the office and employees.

Current team is now 25 people out of which 20 are full time developers and 5 are divided as CTO, Office manager, Graphical Designer, Q&A and Project Management.

The tax invoice issue is under investigating.

Please let me know if there's anything else I can help You with.

Jaakko Rytsölä CEO email [email protected] Mobile +358502295

anonymous 14 days ago

Kirjoitin suomeksi, jotta en häiritse asialla sijoittamista, jos kyseessä onkin ongelma minun päässä. Olin yhtedessä sähköpostilla , uskon että selviää.

I have invested also for this app, thus I really believe that this will be well taken from the public. There is also a one aspect which I think you have missed - grandparents can have this tool to be sure that the money goes to grandchild and it is not used to daily expenses of the household. Also I have a one child at the moment who has been taken from the parents due problems, and lives with us. This is the way I can prevent the parents to use the money, and same time I can teach the child to use a card and control the expenses, and save some money. So really good tool in many Can this 3€ also be paid in bigger lots, like 15€/30€ ?. In future I am sure that bank will take a payment of these movements on your bankaccount. Kindly Hele Aminoff

anonymous 15 days ago

Yritin ladata appstoresta, jumittui kohtaan : en ole poliittisesti vaikutusvaltainen...ei mene siitä eteenpäin. Kuinka valmis sovellus on oikeasti käyttöön? Hele Aminoff

anonymous
PCKT Money Oyj
15 days ago

Hei! Pahoittelut että rekisteröinnin kanssa on ollut ongelmia. Uusia käyttäjiä tulee päivittäin joten ilmeisesti laajemmasta ongelmasta ei ole kyse. Asia pitää kuitenkin ehdottomasti selvittää. Voimmeko olla teihin yhteydessä tai voitteko ottaa yhteyttä asiakastukeemme? Numero on 0207 433 433 ja sähköpostiosoite on [email protected]

Terveisin

Jaakko Rytsölä Toimitusjohtaja, PCKT Money Oyj

anonymous 27 days ago

Hello, Regarding the use of funds. The marketing Budget is 48% which is a significant chunk. And you wanted to outsource this whole thing to a marketing agency. Do you think it’s fine? I do see there is no marketing person in the team to advice about the usage of funds. Ignore this if it’s internal decision but just bit skeptic

anonymous
PCKT Money Oyj
27 days ago

Hi,

Thanks for the question.

Marketing is indeed an important function in our company. Last year we decided to strengthen our marketing experience by inviting Antti Kaihlanen - who has several years of experience of guiding the media budgets of Finland’s largest advertisers - to our board. Our board is very active on supporting our operational team in all strategic marketing decisions. As we’re now focusing on launching in Finland, a country whose marketing and media landscape we know very well, we’ve felt comfortable doing the strategic decisions without an in-house marketing person.

We’ve built the marketing and media strategy (budget allocation across channels) with the help from our board, and the agency partners we’ve selected (Tulos Helsinki for digital marketing, Miller & Lean for creative planning, Manifesto for PR & Comms) have diverse and agile teams with all specialist resources needed for executing those strategies. We are also doing agreements directly with media owners and other marketing partners, so the entire marketing budget does not go through our agencies.

Hiring our own Head of Marketing is of course something that we will certainly consider in the near future - especially when we start our internationalisation.

Hope my answer clarified your thoughts. In case of any further questions, please do not hesitate to contact me. My mobile is +358502295 and email [email protected]

Jaakko Rytsölä, CEO

V.A. about 1 month ago

Did I understand correctly that your plan is to 1) teach children to keep better care of their money, 2) by a system that charges 3€/month for managing 5€ weekly pocket money?

anonymous
PCKT Money Oyj
about 1 month ago

Hi! PCKT is a learning environment and payment card for families.

PCKT includes PCKT app for both parent and child (child app is not mandatory) as well as Mastercard payment card for child. With PCKT parent can give weekly (or one time) allowance to child, and child can decide how much of this money is saved, used or invested. Child may create several saving targets and together parent and child can monitor how savings are progressing.

All purchases done with payment card are visible for both child and parent and they can evaluate how much money has been spent and what the money has been used for. The main goal is that child can track the where money is going and has it spent wisely or not.

There are also additional features like possibility to earn money by doing tasks at home or safety features like to request and receive money by one-click.

The PCKT setup fee is 5 € and monthly fee is 3 € /child. The fee charged from the parent.

More info about PCKT can be found in www.pckt.fi

Customer service will give You more info about the product in 0207 433 43 or at [email protected]

anonymous about 1 month ago

Hi, few questions to clarify: 1) Has there been demand and plans for enabling contactless mobile payments through PCKT instead of requiring a card? If yes, how would you monetize it? 2) You mentioned some advantages compared to traditional banks. Do you have any competitive advantage against similar services such as Go Henry, Rooster Money and Osper? 3) Go Henry has stated that one of their key challenges is creating the market. Do you see the situation being same in Nordics and targeted European markets? What have been the key pushbacks in feedback from test group so far?

anonymous
PCKT Money Oyj
about 1 month ago

Hi!

Thanks for the questions. Here is our feedback.

1) Has there been demand and plans for enabling contactless mobile payments through PCKT instead of requiring a card? If yes, how would you monetize it?

We have Mastercard MDES contactless payments implemented to our backend for Android devices and we plan to roll out the mobile payments later this year. However Apple has age related restrictions for Apple Pay (at the moment AP is allowed for users of 15 year+) which means Apple Pay is not available soon.

Mobile payments increase transaction costs but not significantly. The monthly fee applies if child has physical card or not.

2) You mentioned some advantages compared to traditional banks. Do you have any competitive advantage against similar services such as Go Henry, Rooster Money and Osper?

We have 3 ways to differ from the from these services You mentioned;

2a) The product is more versatile; we have features like money request, investment pocket and home tasks rewards. How ever these kind of services can be set up also by our competitors.

2b) The 2nd angle is the lifetime investment perspective. We teach children to transfer money to investment pocket weekly or monthly basis year after year. If childs learns to put money aside to investment pocket it may become a habit after child turns 18 which is one of key elements of financial independency.

2c) Once parents start using PCKT for weekly allowance and other children related money purposes, we start offering services to parents also. This services are not determined yet but could include payment, investment and loan instruments.

3) Go Henry has stated that one of their key challenges is creating the market. Do you see the situation being same in Nordics and targeted European markets? What have been the key pushbacks in feedback from test group so far?

We also believe that creating the market is one of the key challenges. The CAC is the key and will have high impact on determining the success. According to our market study (TNS Gallup, n=1001) around 50% of target group would buy PCKT. We also have other means like customer referral program. There are also ongoing negotiations with local and global partners but as these processes are ongoing, we can’t give more details at this point.

The pushbacks are mainly focused on technical details which have now been overcome.

Best regards,

Jaakko Rytsölä CEO, PCKT Money Oyj Mobile +358502295

anonymous 27 days ago

Clear answers. Did you run any experiments to see the user acceptance rate of this services in Finland? In the details mentioned, am trying to find the current revenue from the initial test.

anonymous
PCKT Money Oyj
27 days ago

Hi. We did a survey (TNS Gallup, n=1004) where one question was about how the PCKT was seen as a service (would You buy it) and how much user would pay for it. About 50% of people who answered said they would take this kind of service. Also the monthly fee (3 € /month) was in range. If You have more questions, You can also call me to +358502295 or email me to [email protected]

Br,

Jaakko Rytsölä CEO