MBA Project Proposal
UB Number: 08030340
Project Title: IzyPay “IzyFuel “card business plan
Supervisor: John Duckworth
Company: IzyPay
Submission: September 2013
1- Scope/Rationale of Project
In 2000, the year of the liberalization of petroleum distribution in Cameroon, only 1% of the market share were occupied by the Cameroonian private owned firms. But since 2012, they represent 24% of the market share. In the same time, in the favor of the policy of dematerialization and modernization of the economy by the reduction of payment made by cash we have been living a tendency to dematerialization of transactions within the industry, where it is only three majors (Total, Oilibya, Tradex) who are offering an electronic mean of payment to the end-users (car owners). The ‘independents’ who are almost 15 are let aside because they cannot acquire a solution or do not know what to do to deliver this service.
The banking industry that could have provided this mean of payment to end-users and process resulting transactions seem not really interested by this market, furthermore there is not enough payment features packaged in their products, mostly privative cards which remains the unique dematerialized mean of payment at the disposal of the customers. Outside the banking industry there is fewer use of electronic payments for purchase of goods or payment of various specific services. There is no automatic clearing house between them for electronic transactions apart from VISA and MasterCard network, which recurring costs and commissions are very prohibitive. Although integration and interconnection of the traditional systems, which will probably enhance the electronic payments but without being able to address all the various needs of the market in terms of dematerialization of payments (micro payments, mostly) is the key success of any entrepreneurship in this area. But the station service majors companies have not yet understand it. This market included petroleum...