A new study from Juniper Research predicts that 2.1 billion consumers worldwide will use a mobile wallet to make a payment or send money in 2019, up 30% from the 1.6 billion in 2017.
The study claimed that while contactless card payments were far more prevalent than NFC mobile payments in many markets, leading wallets were seeking to redress the balance by enabling both online and offline options.
The researcher cited a number of wallets have augmented payments offerings with banking services in a bid to deliver a holistic financial portfolio for consumers.
Kenya’s M-PESA led the way in sub-Saharan Africa, focusing initially on P2P (Person-to-Person) money transfer services. China’s Alipay achieved critical mass as the de facto payment mechanism in the country’s burgeoning eCommerce market, although it continues to face strong challenge from Tencent’s Wexin Pay (known as WeChat Pay internationally).
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China, India Leading the Mobile Shopping Charge in APAC
New research from Worldpay has shown that shoppers in emerging markets such as China and India are searching for a more luxurious, personalized shopping experience via their mobile devices.
Furthermore, many shoppers in the Asia Pacific have also expressed a willingness to pay more for a product or service should the mobile channel provide a better shopping experience.
Worldpay’s research examined the viewpoints of 16,000 consumers across 10 global markets, including China, India, Japan and Australia in Asia Pacific, with a focus on their last mobile shopping experience and the factors contributing toward their decision to make a purchase via mobile.
The research showed 62% of Chinese consumers and 64% of Indian consumers are happy to pay more for an item, trip or service if the mobile user experience is better; far ahead of the global average of 41. Furthermore, 56% of consumers in India and 54% in China are more likely to shop on a mobile phone if sent a personalized push notification from a nearby store; far outweighing the global average of 35%.
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TrueMoney Vietnam Wins Payment Services License
TrueMoney Vietnam has obtained an Intermediary Payment Services License from the State Bank of Vietnam to operate digital financial services in the market.
The company, part of Thailand-based True Corporation's payment services subsidiary Ascend Money, has secured approval to operate e-money, e-payment, wireless transfers, and payment gateway services.
With the approval, Vietnam will be the second country in the region to launch TrueMoney Wallet after Thailand.
Consumers in Vietnam are expected to be able to use TrueMoney Wallet to make online purchases, pay bills and top up their pre-paid mobile and gaming cards, as well as to transfer money from their bank accounts to the digital wallet and from their wallet to other wallets.
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Exhibition
CEBIT 2018 Reach out to digital natives, creatives and developers of the IT industry from all around the globe: The new CEBIT is Europe’s leading Business Festival for innovation and digitization in Hannover, Germany. Not only in Europe, but also in other parts of the world our CEBIT portfolio sets the scene for outstanding lead generation. more>>
ANGACOM Show AngaCom is a 3 day event being held from 12th to the 14th June 2018 at the Koelnmesse in Cologne, Germany. This event showcases products like provide a international forum in bringing together cable producers, raw materials suppliers and equipment manufacturers etc. in the Media & Advertising industry.more>>
ConnecTechAsia Inspired by the radical changes in the ICT industry, the refreshed CommunicAsia continues to be Asia’s most established and relevant event for industry professionals in the telecommunications sector. It brings together thought-leaders, decision makers, influencers throughout the ecosystem to network, explore new technologies, share ideas and create valuable opportunities for all.more>>
Vendor/Device
ISPs Can Help Usher in Single Digital Economy in ASEAN
The Huawei Southern Pacific ISP Summit 2018 saw over 150 analysts and key industry players converge to discuss how the ISP industry can speed up digital transformation and promote a single digital economy in ASEAN.
Randy Roberts, Research Director at IDC, shared in his keynote speech, entitled “Regional ASEAN ICT Development – Towards a Single Unified Digital Economy”, that businesses in Asia Pacific have made progress in advancing digital maturity.
HKBN to Strengthen Data Protection Measures
Hong Kong Broadband Network (HKBN) has promised to implement new data protection measures for its customer data in the next three months in response to a targeted cyberattack discovered last week.
Under the new measures, all personal information of customers whose accounts have been closed will be kept for six months, instead of seven years, and will subsequently be deleted from the company’s database.
StarHub Accelerates Mobile Speeds to 1Gbps
Singapore's StarHub has launched the city's first commercial 1Gbps mobile speeds as part of its ongoing network modernization program.
The company is allowing customers on its Unlimited Weekend postpaid mobile plans the ability to automatically access the improved speeds if they own a compatible handset.
SKT, Nokia to Trial Advanced Public Safety LTE Tech
SK Telecom has teamed up with Nokia to trial LTE video and voice public safety technologies in South Korea.
The companies are testing technologies designed to allow first responders to communicate using video, data and voice during emergency situations.
Enterprises
Accelerating 5G Arrival, FiberHome Successfully Completes FlexE Interoperability Demo with OIF During the 43rd Optical Fiber Communication Conference and Exposition (OFC), FiberHome teamed up with the Optical Interworking Forum (OIF) to successfully demonstrate the physical layer connectivity of intelligent optical networks with multiple vendors. The FlexE interface has achieved significant progress of interconnection and interoperability, and has promoted the development of key technologies for 5G bearers, winning widespread praise from the industry.
Hengtong Made An Appearance in NEFTEGAZ: Lead the Future The 18th NEFTEGAZ held on 16-19 April 2018 wrapped up in Expocenter Moscow. With its system solutions and products such as micro-air blown cable, underwater communications, ocean engineering, smart grid, Hentong made a stunning appearance in NEFTEGAZ that is a stage for global suppliers to show their new technologies for oil and gas industries.
Senior Executives of Malaysia CELCOM Visited FiberHome Recently, four senior executives from Malaysia CELCOM, mainly in charge of technical and commercial affairs, visited FiberHome HQ. Fan Zhiwen, General Manager of FiberHome's Network Business Unit, together with other leaders, received the delegation.
Hengtong’s Intelligent Manufacturing Is Coming; Embracing it in Our Life China’s National Ministry of Industry and Information announced the recommendations of lunching intelligent manufacturing pilot demonstration projects in 2018, showing that “Made in China” has set sail under such policies introduced continuously and embarked on a new journey of welcoming more technology-powered enterprises.