Webtel.mobi

Global Social Responsibility

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  1. Overview
     
  2. Low Costs
     
  3. Opportunities for Self-Motivated People
     
  4. The World’s Unbanked
     
  5. Voluntary Donations
     
  6. Summary
     

 

  1. Overview

Webtel.mobi Limited believes that real corporate social responsibility should be integrated into all actions that it undertakes, and not assigned to a separate division or policy within the Company.

 

The Company’s view is that if excess funds exist in a company for the formation of such a stand-alone division or policy, or sponsoring of a pet sport or similar project, then that company's social responsibility has already failed. This is because the excess money used for such pet projects should rather have been passed back to customers in price-cuts, instead of being taken in by the company through potentially excessive charges.

 

In order to keep to these principles, and because Webtel.mobi’s business is global in nature, the following four activities form the pillars of Webtel.mobi’s Global Social Responsibility activities:

 

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  1. Low Costs

 

Adam Smith, The Wealth of Nations, Book 1, Chapter IX, Paragraph 24

 

John Paul Rollert, Chicago Booth Review, When making excess profit was immoral

 

Webtel.mobi has kept its Telephony charges to Members as low as possible, to provide affordable local and international communication between people. Our view is that affordable telecommunication between people is not only a right, but also a cornerstone of interaction between people, which in turn increases the likelihood of peaceful cooperation and understanding, and lessens the likelihood of misunderstandings and conflict.

 

Similarly, providing people with the Telephony add-on facilities to do Currency Conversions or Top-up Transfers rapidly, easily and under their control also assists them, but being able to do so a much lower costs can mean  – as does the low-cost telephony – the difference between one bag of rice or two in poverty-stricken countries or to people and families who are in vulnerable circumstances.

 

As just one of hundreds of such examples, to send a Text message using Webtel.mobi from European countries to certain countries in Asia or the Pacific (and vice versa) costs – with almost all standard providers – up to GBP 1.00 / US$ 1.50 / Euro 1.20. Webtel.mobi’s cost-to-Member for the same text is 5 cents – including Webtel.mobi’s profit.

 

As such, it would be easy for Webtel.mobi to charge say GBP 50 Pence / US$ 75 cents / Euro 60 cents for such a Text and still enjoy the business and reputational advantage of being much lower cost than competitor telephony companies. However, it is the view of the Company that to do so would be immoral. As such, it charges its Members only the REAL costs-to-company, plus an acceptable profit margin.

 

This view extends through all of the Company’s products, services and activities; from passing on REAL rates of currency exchange with an acceptable profit margin – which leaves the majority of the Member’s Stored Credit in his or her hands – to levying extremely low charges of 0.25% to 1% in transparent charges for Top-up Transfers, to enabling Refund Transfers to be done at very low cost to no cost.

 

All of Webtel.mobi’s services will remain at low cost to its Members, because in the Company’s view, real Social Responsibility comprises providing a good service at the REAL cost-to-company with an acceptable profit margin – and not at the highest cost that the market will bear.

 

Frost & Sullivan sees Webtel.mobi as a potential sector-influencer in the international mobile space. Through a global service which is highly competitive in price, reliable, easily accessible, contract free, and which currently holds international market dominance in terms of its geographic coverage and VSMP program, Webtel.mobi is able to proliferate its SMP services worldwide at little or no cost.

 

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  1. Creating Revenue Opportunities for Self-Motivated People

 

The structure of Webtel.mobi’s expansion method via Independent Agents and Affiliates (VSMPs) sees these entities obtaining Commission Donations from Webtel.mobi from the revenues obtained via the VSMPs which they have introduced.

 

The amounts of these Commission Donations are 1% of the profits to the Independent Agent from each VSMP that they successfully introduce; and 10% of the profits from each VSMP to the organization that is allowed to set up a VSMP.

 

These are large Commission Donations, and there are no costs levied on the Independent Agents or the VSMPs by the Company.

 

As the role of Independent Agent is well-suited to any person who is able to communicate with others, it is an ideal activity for people in a variety of sectors who would otherwise not necessarily be able to engage in well-paid activities. 

 

Similarly, the Webtel.mobi system has been structured so that entities that vary in size and format from Global Multinational Corporations down to corner shops or membership organizations can become VSMPs, which in turn means that small and medium businesses are also given the opportunity to generate more revenues for themselves.

 

Traditionally, the costs of remitting such Commission Donations are passed on the end-user in higher charges for the services.

 

However, Webtel.mobi has taken the decision to fund the total cost of the Commission Donations from its own revenues, rather than to pass it on to the Member. As such, the costs to Members have not been raised to cover the costs of Webtel.mobi’s Commission Donations, which are factored in as a cost-to-company.

 

Through this, Webtel.mobi directly injects 13.5% of profits directly into creating revenue-opportunities for self-motivated persons and companies / entities internationally.

 

By doing this, Webtel.mobi has projected that it will be able to assist in the stimulation of revenue upliftment on a significant scale in multiple countries, and within communities in those countries.

 

Moreover, it is anticipated that this methodology will also inject significant revenues into communities whose people would not often have the opportunity to obtain or spend significant funds in their communities; which will hopefully lead to organic social upliftment taking place in those communities.

 

 

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  1. Providing an Interim Solution for The World’s Unbanked

https://www.mckinsey.com/~/media/McKinsey/Industries/Financial%20Services/Our
%20Insights/Counting%20the%20worlds%20unbanked/Image_Counting%20the
%20worlds%20unbanked_2.ashx

 

A very significant percentage of the World’s population – over 2 Billion people – is Unbanked. Apart from the other difficulties that being Unbanked bring about, one of the greatest difficulties is that it is one of the most expensive ways to live.

 

The lack of access to the 21st Century economy leaves people who are Unbanked with no choice but to pay extremely high costs, in cash, for all their goods and services.

 

Moreover, for migrant and expatriate workers who are Unbanked, just to repatriate funds to their families consumes a large proportion of those funds just in the act of getting funds to their families. Typical costs vary from a (real) cost of up to 15% of the amount sent home by money transfer companies, to up to 40% of the amount if it is carried by cash couriers.

 

These problems are already critical, but if one takes it that the receipt of such cash by family members at home also often necessitates the payment of protection money to ensure that they are not robbed (and that in many cases they are robbed), the problem is greatly exacerbated.

 

A great deal of discussion has taken place to date about the necessity to cater for the Unbanked, but no real or practical methodology has yet been created to practically or realistically do so in any meaningful way.

 

Therefore, until the international banking system can formulate a workable system which can facilitate inclusion of the Unbanked into it, Webtel.mobi has structured an interim solution for this sector. As Webtel.mobi is a Telephony Company and not a Money Transfer Company or Bank, it is only a partial and interim solution. Nevertheless, this partial and interim solution will – while not turning the Unbanked into Banked – at least assist them to partially enter the 21st Century global economy, and alleviate some of the primary causes of additional cost and risk inherent in and to cash-based economies.

 

The partial and interim solution structured by Webtel.mobi has been to create a globally usable Top-up Voucher system, specifically to assist the Unbanked through the exchange of their cash at Webtel.mobi VSMPs for Webtel.mobi Top-up Vouchers. 

 

The Company did not need to develop this system, because its existing system – without the Top-up Vouchers – is its primary business model. The build and inclusion of the Top-up Voucher system was also complex to develop, as was the structuring to make it usable globally and in a secure manner for the client, VSMP, company – as well as implementing security systems to prevent misuse thereof and structure effective Anti-Money Laundering checks and balances in that process. Nevertheless, Webtel.mobi created this Top-up Voucher system as an interim solution for Unbanked people, to bring about the following:

 

  • Unbanked persons can exchange their cash at a Webtel.mobi VSMP or Independent Agent (with the required Anti-Money Laundering restrictions as detailed in the “Security” section of this site. Webtel.mobi does not accept or deal with cash at all, so all Top-up Vouchers must be pre-paid for by VSMPs and Agents via bank transfer, and are only sold in low-denomination amounts (from US$ / Euro / GBP 5 denominations, up to a US$ / Euro / GBP 1000 denomination).
     
  • The Top-up Voucher can then be loaded onto the Webtel.mobi system, and the Member will then have his or her funds as Stored Credit, in an online Account (this is also why Webtel.mobi built its system to additionally be usable on pre-Smart Phones, because of the 60% of phones in the world that are pre-Smart phones, the majority are in use by the Unbanked sector).
     
  • Once the funds are loaded into the Webtel.mobi system, the Unbanked person can participate in the 21st century Global Economy immediately.
     
  • He/she can call or text, make a Top-up Transfer immediately to the Webtel.mobi Account of a family member – at 1% cost, not 15% to 40% cost – which family member can access it immediately (and often convert it to a home country currency at a much better rate of exchange than would otherwise be the case).
     
  • This will not just prevent the Unbanked person from losing a huge proportion of his/her money simply to have it transported home, it will also inject a significantly high percentage of funds back into multiple rural and/or less developed / less wealthy communities and regions internationally.
     
  • It will also render the recipients much safer from acts of robbery and/or extortion for protection, which acts are rife in cash economies.
     
  • Moreover, Webtel.mobi / the TEL.mobi Group has developed and implemented a reliable method for Unbanked people who are not in possession of traditional Identification Documents to implement and effective “Know Your Client” method of personal and address identification (the “Substitute Personal KYC”, which can be seen by clicking here).

 

It is for this reason that the complex system was developed and implemented by Webtel.mobi for the safe creation, distribution, sale and redemption of the Webtel.mobi Top-up Vouchers worldwide.

 

Through this, a real, practical, efficient and operational interim solution has been developed to practically assist the more than 2 Billion Unbanked persons on a global basis, until such time as they are able to obtain access to banking services.

 

Some more details on this situation can be seen in the article extracts below:

 

Why banking the world's unbanked hinges on data science
By Steve Polsky 
December 6, 2017 11:59 GMT

 

In a recent report, McKinsey Global Institute revealed that widespread adoption and use of digital finance could increase the GDPs of all emerging economies by 6 percent, or a total of $3.7 trillion, by 2025. One of the services that is central to this is mobile money.

 

Mobile money enables the digitization of currency. This has safety and convenience benefits which have been instrumental in providing access to financial services for the two billion unbanked individuals around the world for the past decade. However, only one in ten unbanked mobile phone users are actively using the service. It has been said that the biggest obstacle to the adoption of mobile money is a result of much of the world's unbanked population lack any official way to identify themselves. A change needs to happen.

 

80 percent of the world's mobile subscribers are currently prepaid subscribers. They are completely anonymous to the mobile network operators who dominate mobile financial services in emerging markets. Many are under-banked or unbanked, with either limited or no access to essential financial services. With widely used digital finance having the power to transform the economic prospects of billions of people, businesses must take a new approach to the lack of credit that continues to hold back the unbanked.

 

As smartphone penetration continues to deepen across emerging markets, mobile operators' reach places that put them in a unique position to drive financial inclusion.

https://www.ibtimes.co.uk/why-banking-worlds-unbanked-2017-hinges-data-science-1650414

 

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  1. Voluntary Donations of a Percentage of Profit in lieu of tax

 

Webtel.mobi has as its Principal Place of Business the Bailiwick of Guernsey in the Channel Islands.

 

The Bailiwick of Guernsey is a zero-tax jurisdiction for companies in the category in which Webtel.mobi falls.

 

Webtel.mobi did not select Guernsey as its Principal Place of Business to avoid tax. It selected it because it was the best selection of jurisdictions which enabled Webtel.mobi to provide its services at one uniform cost worldwide (see details in the “Security” section of this site).

 

As such, Webtel.mobi will – in lieu of tax, and over and above the 13.5% of profits that it will pay to its Independent Agents and VSMPs – additionally donate the equivalent of the international average of Top Range Corporate Tax – being 22.5% – of its profits to charitable and not-for-profit organizations, in specific categories: (Click here to see)

 

To ensure equitable distribution, these funds will be donated pro-rata to every country where Members of Webtel.mobi or the TEL.mobi Group access Webtel.mobi and/or TEL.mobi Group services from, in direct proportion to the amount of revenue derived from each country (which will also address the current inequitable system whereby one country where an online service is managed and provided from receives all the benefit of the activities of citizens from multiple countries on that site).

 

Only local grassroots organizations staffed by citizens of the recipient country will be selected, and the donation will be made directly to the organization, to apply according to their own processes and methodologies – as satisfactorily due diligenced prior to donation taking place.

 

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  1. Summary

 

The above comprises the views and activities of Webtel.mobi insofar as Social Responsibility in general – and Webtel.mobi’s Global Social Responsibility in specifics – are concerned.

 

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