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“Asia/Pacific leading in Mobile Payment”

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 Asia/Pacific has been identified by Gartner as the leading region with mobile payment users.
Just as the number of mobile payment users worldwide is to exceed 108.6 million in 2010, a 54.5 percent increase from 2009, when there were 70.2 million users; in Asia/Pacific, mobile payment users is expected to surpass 62.8 million in 2010 and represent 2.6 percent of all mobile users,
In Europe, the Middle East and Africa (EMEA), mobile payment users will total 27.1 million and represent 2.1 percent of all mobile users in the region. In North America, mobile payment users will number 3.5 million and represent 1.1 percent of all mobile users in the region.
Mobile payment users will represent 2.1 percent of all mobile users in 2010.
“We continue to see strong growth in developing markets in Asia, Eastern Europe, the Middle East and Africa for mobile payment, while adoption in North America and Western Europe lags behind due to the plentiful choices of payment instruments that consumers have,” said Sandy Shen, research director at Gartner.
“Developing markets have found the right formula for mobile money services – functions that users want and an ecosystem that can sustain the service.”
“The answer for developed markets, however, remains elusive. The offerings for developed markets will take a different format,” Shen said. “Instead of a point offering for mobile payment, the service needs to be built on top of the existing payment behavior and infrastructure so that users can choose any channel – retail, phone, online or mobile – that suits their context at the moment of payment.”
Shen said the strong demand for mobile payment in developing markets is being driven by the unbanked and underbanked populations that do not have ready access to the banking infrastructure or PC, positioning mobile as the natural choice of access platform. At the same time, regulators in early-adopter markets are tightening up policies to provide better user protection and fight against unlawful financial activities relating to money transfer.
Short Message Service (SMS) remains the dominant mobile payment technology. Its ubiquity and ease of use makes it the technology of choice, not only for consumers in developing markets, but also for those in developed markets. Wireless Application Protocol/Web can support either downloadable clients or mobile browsers. It is more frequently used by consumers in developed markets due to the higher penetration of data-capable phones and active data plans.
Many financial institutions have failed to see the business case of Near Field Communication (NFC) payment, in particular, which offers similar functionality to contactless cards but with the added complexity of dealing with mobile carriers and other ecosystem partners.
Shen urged service providers in developing markets to investigate service interoperability to speed market uptake and foster healthy competition. She said solution providers should ensure platform flexibility so that platforms can work with both the bank’s and mobile carrier’s systems, and so that it can be readily customized for local deployments.
Other interested parties will include financial institutions, which can use mobile payment to reach the unbanked and underbanked populations that cannot be easily reached with the traditional infrastructure. They will need to collaborate with mobile carriers in developing markets to take advantage of their brand recognition and service coverage. In developed markets, they should work with large retailers and online merchants to build on existing purchase and payment behavior.

 


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ISDL Achieves IMS Certification

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Integrated System and Devices Limited (ISDL), a major provider of electronic security solutions, is delighted to announce the successful attainment of ISO 14001:2015 and ISO 45001:2018 certifications following a rigorous audit process conducted by Bureau Veritas Certification Holdings SAS-UK Branch.

ISDL Achieves IMS Certification

In 2021, ISDL bagged the Quality management systems ISO 9001:2015, and now in 2024, with unwavering dedication to customer satisfaction, the occupational Health and Safety system ISO 45001:2018 and the Environmental management system ISO 14001:2015 have been consolidated to form an Integrated Management System.

These certifications, covering ISDL’s headquarters and branches, signify the company’s unwavering commitment to upholding the highest standards of quality management across all facets of its operations.

According to Oluseun Mabogunje, managing director of ISDL, the scope of the certifications encompasses the design, procurement, supply, installation, integration, maintenance, and after-sales support of various electronic security and Extra Low Voltage (ELV) equipment.

Mabogunje expressed his elation at receiving the IMS certifications, emphasizing ISDL’s dedication to delivering exceptional quality and service to its clientele. He emphasized that this achievement underscores the company’s ongoing pursuit of continuous improvement and customer satisfaction.

 

 

 


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Cybervergent’s Q1 2024 Report Reveals Rising Threat of Remcos RAT Malware in Financial Sector

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Cybervergent, a foremost technology company providing automated cybersecurity solutions, in its Quarterly Brief has revealed a troubling trend in the financial sector that shows a spike in attacks utilising the deceptive Remote Control and Surveillance Access Trojan (Remcos RAT) in Q1, 2024.

The findings affirm a stark forewarning to the financial institutions and organisations in the African continent, urging heightened vigilance and proactive measures to mitigate potential escalating risks.

Previously marketed as a legitimate software, Remcos got co-opted by malicious actors and is now a prevalent tool in cybercrime campaigns. This remote access tool grants attackers hidden entry into victims’ devices, allowing them to seize control, pilfer sensitive data, and even introduce stealth backdoors to compromise entire systems. The capabilities of Remcos are diverse and frightening, ranging from disabling vital security features like User Account Control (UAC) to covertly recording user activities.

“As vigilant cybersecurity gatekeepers, we have observed a significant surge in attacks leveraging the Remcos RAT malware,” said Gbolabo Awelewa, the Chief Solutions Officer, Cybervergent. “Financial institutions are particularly targeted due to the sensitive nature of their data and assets. Organisations must remain diligent and adopt proactive monitoring measures to safeguard against such threats.”

The proactive approach adopted by Cybervergent’s Cyber Operations Centre involves meticulous analysis of attacker tactics, constant updating of threat intelligence, and implementing robust endpoint security solutions. These measures are designed to detect, prevent, and neutralise Remote Access Trojans like Remcos, ensuring the continued security and compliance of organisations in the face of evolving cyber threats.

“Our mission is to fortify our clients’ defenses and ensure the seamless operation of their organisations,” added Gbolabo. “By staying ahead of emerging attack vectors and vulnerabilities, we empower businesses to take proactive measures and protect their valuable assets.”

Looking ahead, Adetokunbo Omotosho, Chief Executive Officer of Cybervergent emphasised the firm’s focus on empowering organisations to navigate the complexities of cybersecurity and compliance with dexterity and confidence.

“Cybervergent’s Assurance and Compliance Team has demonstrated unparalleled leadership in the cybersecurity domain, achieving significant milestones and delivering transformative solutions. Our journey through Q1 reflects a deep commitment to advancing the state of cybersecurity compliance, paving the way for a secure and resilient digital future for organisations in Africa and across the world”, he added.


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Konga Launches Free Same Day Deliveries on Starlink, Apple & Samsung Nationwide

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Konga, the only authorised shop-in-shop for Starlink Internet kits in Nigeria, is offering its customers free same day delivery across all major cities in the country.

With prices of Starlink Internet kits slashed by 50%, Konga is delivering additional value so that both homes and businesses in urban and remote places can enjoy infinite possibilities with their internet on both their standard and enterprise installations. This offer which is available both online and in its retail stores nationwide is exclusive to new and existing customers this month.

With the improvement in prices on both original standard and enterprise Starlink kits, customers can now enjoy a global warranty and direct installation services by purchasing only on Konga.

Since the launch of the partnership with the Elon Musk owned satellite internet provider, Nigerians have continued to celebrate the uninterrupted supply of fast and efficient cyber network services from the authentic devices available on Konga.

In addition to Starlink, other unique items from leading global companies such as Apple, HP, Lenovo, Samsung, Zinox, Philips, Intel and many more are available at unbeatable discounts in the Konga Tech Month from the 1st and will run till the 31st of May 2024.

The Konga Tech Month was extended from its traditional 7day promotion to 30days to give more people access to exclusive deals throughout the month. To enjoy these mouthwatering offers, visit konga.com or any of its physical outlets today.


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