27406 - DineroMail

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Summary of Proposed Investment

Project Number

27406

Company Name

DINEROMAIL INC.

Date SPI Disclosed

May 8, 2009

Country

Latin America and the Caribbean Region

Industry

Financial Markets

Projected Board Date

Jun 9, 2009

Status

Completed

Sector

Other Services (Including IT Enabled Services)

Department

Equity Portfolio Management

Environmental Category

C - No Impact

Previous Events

Approved : Jun 23, 2009
Signed : Jun 26, 2009
Invested : Sep 2, 2009

Project Description

The proposed project consists of an equity investment in Dineromail of up to $5 million, as part of a round of financing initiated in 2008 to strengthen existing operations in Argentina, Mexico, Brazil, and Chile and enter new markets.

One of IFC’s strategic pillars is to support information and communications applications and IT enabled services across a broad range of sectors, the most prominent of which include finance and small business development. In that context, innovative use of technology to develop and improve payment systems as a way to improve access to finance exhibits enormous developmental potential and has become a key focus for IFC’s work in this area.

Sponsor / Cost / Location

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan
Equity	5.0

Development Impact

The anticipated development impacts of the project are:

Access to financial services to unbanked: The project will help improve access to basic financial (payment) services for un-banked segments of the population, as Dineromail’s model allows for simple and secure on-line access to financial services to such segments.

Increased business volume for MSMEs: MSMEs with no numbers for main credit cards (which do not assume fraud risk) will benefit from a simple and secure electronic payment method, increasing merchants’ current competitiveness vis-à-vis larger stores.

Promote connectivity: On-line payment platforms such as Dineromail’s end up fueling the demand for better internet connections among individuals and MSMEs. In turn, telecoms and broadband connectivity fuels the flow and exchange of ideas and innovation, directly leading to increased productivity. Connectivity and e-business in general are critical for helping LAC bridge the digital divide with more advanced regions.

Stamp of Approval: While Dineromail has brought on-board recognized players in the internet, media and credit card markets, an involvement from IFC would help further improve corporate governance in preparation for an eventual IPO or block trade, and enhance visibility and recognition, critical for gaining the trust of small merchants across a wide array of countries to begin using this platform.

Replication in other countries: Dineromail is expanding its operations to several countries in Latin America. IFC’s presence and knowledge of the regions will be very helpful for the Company to successfully enter those markets.

Access to WB Group expertise / Knowledge sharing: WB and IFC have been accumulating regulatory expertise with regards to payment systems and services. Dineromail sees value in tapping such expertise, especially as it replicates its model into new countries within LAC.

Governance strengthening in preparation for an IPO: Dineromail sees an IPO in its future and believes IFC will help strengthen governance which will, in turn, boost its credibility in the public eye.

Contacts

For Inquiries About the Project, Contact

Estrada, Ale
Uriarte 2489 2o Piso
Buenos Aires, Argentina

Business Phone: +54 11 5275 1700
E-mail: ale@dineromail.com

For Inquiries and Comments About IFC, Contact

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2121 Pennsylvania Avenue, NW
Washington DC 20433
Telephone: 202-473-3800
Fax: 202-974-4384
E Mail: Webmaster

This Summary of Proposed Investment is prepared and distributed to the public in advance of the IFC Board of Directors' consideration of the proposed transaction. It is not an offer of shares to the public and is intended solely to enhance the transparency of IFC’s activities. This document should not be construed as presuming the outcome of the Board decision. Board dates are estimates only. The following SPI is disclosed in accordance with IFC’s Policy on Disclosure of Information that went into effect April 30, 2006.

The map is for illustrative purposes and does not imply the expression of any opinion on the part of the World Bank, concerning the legal status of any country or territory or concerning the delimitation of frontiers or boundaries. Country borders or names do not necessarily reflect the World Bank Group's official position. In some cases, available project location information is limited to the country of the project's activities. Locations are approximate.

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