44
THE MONTH IN NUMBERS
The month in numbers…
7 MILLION…India’s surprise move to get rid of 500 and 1,000 rupee notes has provided a huge boost for
mobile payment firms. Digital wallet outfit, Paytm, which is backed by Alibaba, reports seven million daily transactions worth about Rs 120 crore, helping it cross $5 billion Gross Merchandise Value (GMV) sales, four months ahead of its target. Rival MobiKwik has also seen a surge in new users signing up.
With the aforementioned move wiping out 86% of India’s cash, it is no surprise that people are turning to these new entrants. Mobile payments are, however, still some way off mass adoption, as many people don’t have bank accounts and credit cards are not accepted at various smaller retailers.
600 MILLION… Biometric authentication is set to move beyond fingerprints and take in the likes of facial
recognition and voiceprints, according to Juniper Research. These methods will become part of many more consumers’ lives, installed on an estimated 190 million mobile devices in 2016, before exceeding 600 million devices by 2021.
Demand from businesses for methods that rely less on hardware will raise the profile of newer biometrics over the next five years, in particular voiceprints and facial recognition. These technologies are easier to deploy than fingerprinting, as they do not require dedicated hardware, bringing biometric security to a whole new audience in markets with lower-tier smartphones, with fingerprinting remaining common in more affluent regions. Juniper Research predicts that multiple biometrics will become part of consumers’ mobile experience in the near future. Use cases will, meanwhile, shift from identification to verification, thanks to the need for increased security of the biometric itself.
1,500... ABN Amro is to shed another 1,500 jobs as it steps up efforts to reduce costs and invest in digital
services. The Dutch FI says the cuts, which will result in Euro 400 million extra savings, come on top of existing restructuring plans involving around 1,000 job losses. The bank’s workforce will be reduced by around 13%, generating a total of Euro 900 million in savings by 2020.
www.ibsintelligence.com © IBS Intelligence 2016
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52
