The Fintech Vietnam Startup Overview. Now counting 39 original Vietnamese Fintech Startups. Any feedback more than welcome.
Check also the article here http://fintechnews.sg/2838/studies/vietnam-fintech-startup-report-update-explores-vietnams-massive-fintech-opportunities/
Demographics and socio-economic classes (across gender, rural/urban, income groups)
Type and nature of internet usage (content consumption, service transactions, product transactions, etc.)
Source: Cases study done by Google & its research partner
Sample Report: Indonesia B2C E-Commerce Market 2017yStats.com
Free Report Samples for our publication "Indonesia B2C E-Commerce Market 2017".
Find the full updated 2019 report available for purchase at: https://bit.ly/3aq8Rc9
The Fintech Vietnam Startup Overview. Now counting 39 original Vietnamese Fintech Startups. Any feedback more than welcome.
Check also the article here http://fintechnews.sg/2838/studies/vietnam-fintech-startup-report-update-explores-vietnams-massive-fintech-opportunities/
Demographics and socio-economic classes (across gender, rural/urban, income groups)
Type and nature of internet usage (content consumption, service transactions, product transactions, etc.)
Source: Cases study done by Google & its research partner
Sample Report: Indonesia B2C E-Commerce Market 2017yStats.com
Free Report Samples for our publication "Indonesia B2C E-Commerce Market 2017".
Find the full updated 2019 report available for purchase at: https://bit.ly/3aq8Rc9
An overview of the mobile wallets in China, we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know-including the prominent wallet types, usage trends, key challenges and future prospects.
eCommerce platforms shipped ~2.5 billion shipments in
FY2020 growing at ~50%+ CAGR in the last 3 years. However,
we expect shipment volume to grow at ~30-35% CAGR for next
5 years.
Some of the key drivers of growth for eCommerce are the
latent demand in Tier-2+ cities, enablement of logistics
networks, infrastructure built by eCommerce platforms (large
horizontals), and new age third-party logistics players in
the last 3-4 years. The investment in logistics networks and
infrastructure has enabled eCommerce platforms to reach
online shoppers beyond metro and tier-1 cities to hinterland in
the country
Indian grocery traditionally has been a primarily unorganized market, wherein more than 90% of the market is driven by traditional ‘kirana stores. However, in the past decade or so, organized brick & mortar and online channels have gained prominence. Online grocery has been boosted by covid-19 related tailwinds, with the GMV run-rates of major players growing by 70%+ during the period. This has led to an increased focus on the sector by large conglomerates as well as mature online players.
During Covid, while there were some challenges in the initial days of the lockdown, the segment has grown significantly. Most notably, fresh vegetables and fruits have seen 144% growth, while FMCG products grew 150%. While a lot of this growth will normalize to some extent as the COVID situation subsides, a significant portion of new users will persist and drive growth.
With the increasing demand and competition, it becomes imperative for brands to stay ahead by making data-driven decisions. In order to equip the brands to win in the online space, BigBasket Brand Intelligence and RedSeer have partnered to author this report. The idea here is to combine high-quality RedSeer IP on broader trends in the sector and BigBasket’s grocery expertise to create a ready-reckoner for brands, as they make strategic, product or channel-related decisions.
This report is an abridged version of the larger report which can be subscribed as per need. Besides the key trends of the sector, customer insights etc., this report deep dives on key categories such as Snacks & Packaged Foods, Beverages, Personal Care and Home Utilities, we present the quarterly growth in sales in the past 5 quarters with various sub-category splits.
Funded by large global investors, the e-tailing market in India is growing exponentially. Going forward, what are the megatrends likely to emerge in this market?
Facebook-BCG Report on the impact of digital in the Financial Services IndustrySocial Samosa
India is on the cusp of a digital
revolution. With rising internet and
smartphone penetration, the digital
DNA of India is rapidly changing.
The first 100 million ‘digital Indians’
were largely men, millennials and
metro based. However, with higher
adoption among women, lower tier
cities and older age groups, the face of
an average internet user is changing.
They are also engaging in mature
activities, going beyond search and
social networking to online shopping
and banking. In 2013, only 7% urban
internet users with digital age less than
2 years adopted online shopping. This
grew more than four fold in four years.
A similar trend has been seen in online
banking as well.
Also, with increasing smartphone
penetration, the way consumers are
accessing internet is changing. In
2013, only 44% of urban population
preferred mobile for internet access,
but now almost 3/4th prefer mobile.
Find More Case studies at - https://www.socialsamosa.com/category/indian-social-media-case-studies/
Flipkart-Walmart deal has been a landmark moment in the history of e-tailing. Since its humble beginnings in 2000, e-tailing has come a long way. The growth story of the industry in the last 10 years has been nothing less than remarkable. While the growth had slowed down between 2014-2016 due to multiple factors like DIPP regulations and demonetization, 2017 has seen a turnaround for the industry.
Ground Zero 4.0 | Scaling Up - Event ReportRedSeer
Executive Summary
The report is compiled of all the topics that were discussed at Ground Zero 4.0 and has been
segregated based on RedSeer’s research and panel inputs.
Key Findings:
1. Digital India
2. Retail
3. D2C
4. Education
5. Healthcare
6. Grocery
7. Etailing
eCommerce platforms shipped ~2.5 billion shipments in
FY2020 growing at ~50%+ CAGR in the last 3 years. However,
we expect shipment volume to grow at ~30-35% CAGR for next
5 years.
Some of the key drivers of growth for eCommerce are the
latent demand in Tier-2+ cities, enablement of logistics
networks, infrastructure built by eCommerce platforms (large
horizontals), and new age third-party logistics players in
the last 3-4 years. The investment in logistics networks and
infrastructure has enabled eCommerce platforms to reach
online shoppers beyond metro and tier-1 cities to hinterland in
the country
Windows Server 2012 R2 at VMUG.org in LeedsSimon May
A brief overview of what's coming in Windows Server 2012 R2 that I delivered at VMUG recently. Details on virtualisation improvements, storage improvements, VDI and much more
An overview of the mobile wallets in China, we have gathered relevant research to assess the current state and future potential of mobile wallets in China that marketers should know-including the prominent wallet types, usage trends, key challenges and future prospects.
eCommerce platforms shipped ~2.5 billion shipments in
FY2020 growing at ~50%+ CAGR in the last 3 years. However,
we expect shipment volume to grow at ~30-35% CAGR for next
5 years.
Some of the key drivers of growth for eCommerce are the
latent demand in Tier-2+ cities, enablement of logistics
networks, infrastructure built by eCommerce platforms (large
horizontals), and new age third-party logistics players in
the last 3-4 years. The investment in logistics networks and
infrastructure has enabled eCommerce platforms to reach
online shoppers beyond metro and tier-1 cities to hinterland in
the country
Indian grocery traditionally has been a primarily unorganized market, wherein more than 90% of the market is driven by traditional ‘kirana stores. However, in the past decade or so, organized brick & mortar and online channels have gained prominence. Online grocery has been boosted by covid-19 related tailwinds, with the GMV run-rates of major players growing by 70%+ during the period. This has led to an increased focus on the sector by large conglomerates as well as mature online players.
During Covid, while there were some challenges in the initial days of the lockdown, the segment has grown significantly. Most notably, fresh vegetables and fruits have seen 144% growth, while FMCG products grew 150%. While a lot of this growth will normalize to some extent as the COVID situation subsides, a significant portion of new users will persist and drive growth.
With the increasing demand and competition, it becomes imperative for brands to stay ahead by making data-driven decisions. In order to equip the brands to win in the online space, BigBasket Brand Intelligence and RedSeer have partnered to author this report. The idea here is to combine high-quality RedSeer IP on broader trends in the sector and BigBasket’s grocery expertise to create a ready-reckoner for brands, as they make strategic, product or channel-related decisions.
This report is an abridged version of the larger report which can be subscribed as per need. Besides the key trends of the sector, customer insights etc., this report deep dives on key categories such as Snacks & Packaged Foods, Beverages, Personal Care and Home Utilities, we present the quarterly growth in sales in the past 5 quarters with various sub-category splits.
Funded by large global investors, the e-tailing market in India is growing exponentially. Going forward, what are the megatrends likely to emerge in this market?
Facebook-BCG Report on the impact of digital in the Financial Services IndustrySocial Samosa
India is on the cusp of a digital
revolution. With rising internet and
smartphone penetration, the digital
DNA of India is rapidly changing.
The first 100 million ‘digital Indians’
were largely men, millennials and
metro based. However, with higher
adoption among women, lower tier
cities and older age groups, the face of
an average internet user is changing.
They are also engaging in mature
activities, going beyond search and
social networking to online shopping
and banking. In 2013, only 7% urban
internet users with digital age less than
2 years adopted online shopping. This
grew more than four fold in four years.
A similar trend has been seen in online
banking as well.
Also, with increasing smartphone
penetration, the way consumers are
accessing internet is changing. In
2013, only 44% of urban population
preferred mobile for internet access,
but now almost 3/4th prefer mobile.
Find More Case studies at - https://www.socialsamosa.com/category/indian-social-media-case-studies/
Flipkart-Walmart deal has been a landmark moment in the history of e-tailing. Since its humble beginnings in 2000, e-tailing has come a long way. The growth story of the industry in the last 10 years has been nothing less than remarkable. While the growth had slowed down between 2014-2016 due to multiple factors like DIPP regulations and demonetization, 2017 has seen a turnaround for the industry.
Ground Zero 4.0 | Scaling Up - Event ReportRedSeer
Executive Summary
The report is compiled of all the topics that were discussed at Ground Zero 4.0 and has been
segregated based on RedSeer’s research and panel inputs.
Key Findings:
1. Digital India
2. Retail
3. D2C
4. Education
5. Healthcare
6. Grocery
7. Etailing
eCommerce platforms shipped ~2.5 billion shipments in
FY2020 growing at ~50%+ CAGR in the last 3 years. However,
we expect shipment volume to grow at ~30-35% CAGR for next
5 years.
Some of the key drivers of growth for eCommerce are the
latent demand in Tier-2+ cities, enablement of logistics
networks, infrastructure built by eCommerce platforms (large
horizontals), and new age third-party logistics players in
the last 3-4 years. The investment in logistics networks and
infrastructure has enabled eCommerce platforms to reach
online shoppers beyond metro and tier-1 cities to hinterland in
the country
Windows Server 2012 R2 at VMUG.org in LeedsSimon May
A brief overview of what's coming in Windows Server 2012 R2 that I delivered at VMUG recently. Details on virtualisation improvements, storage improvements, VDI and much more
Setting up an enterprise wide User Experience function can be a challenge in any industry. Higher education presents its own challenges, particularly in light of recent digital disruption emerging in the industry.
This presentation looks at the disruption that can be expected, explains the importance of User Experience, provides examples of UX and suggestions for setting up centralised UX.
This is a content of PERSONALITY, FACTORS AFFECTING PERSONALITY & HUMAN BEHAVIOR. This content also explains important theories of personality in brief. I have prepared it for my Advance Nursing Practice presentation. Hope it will be helpful for Msc. nursing students.
Disruptive Innovationen in der FinanzwirtschaftSemalytix
The Largest Independent Payment Infrastructure
- Germany is still extremely cash-driven
- Especially Low-Income Population Extensively Uses Cash
- Germany’s Largest Independent Payment
Infrastructure
- Strong Partner Network Allows for a Rollout of Services
across Europe
Project CYPRUS XXI: United States of Cyprus (USC)
One CYPRUS – SUSTAINABLE (GREEN SMART SOCIAL) NATION DEVELOPMENT STRATEGY
An Integrated Policy, Growth Strategy and Investment Plan
The United Cyprus Sustainable Development Strategy is aimed to create an Eco-Smart Island of all-sustainable future society, with
smart citizens,
intelligent government,
integrated infrastructure,
innovative industry and green economy,
high quality eco tourism,
intelligent banking system and financial services,
progressive logistics and the maritime services,
smart ICT services,
world-class healthcare,
innovation education and research,
creative work and green lifestyle
The Med Island of Cyprus
I-Cyprus Investment Strategy
Smart Recovery Plan
Overcoming Mass Poverty, Unemployment and Corruption
State Restructuring
Cyprus Recovery Strategy
Smart Growth
Green Economy
Inclusive Society
Silk Road
New Maritime Route
Few years before we are using the cash for payments. When a digitalization occurs the way of payments gets changed. It helps our country to move next level of development. It creates more awareness to people about the payment innovation. Umamaheswari K | Santhiya R | Ragavi J"Payments Innovation" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-2 | Issue-3 , April 2018, URL: http://www.ijtsrd.com/papers/ijtsrd11150.pdf http://www.ijtsrd.com/management/innovation-and-product-dev/11150/payments-innovation/umamaheswari-k
How we will be paying in 2020 - SPA Technical Director, Lorenzo Gaston at EPC...Smart Payment Association
Retail Payments Vision 2015 – And SPA perspective
The retail payment ecosystem is changing. Over recent years we’ve seen the democratizing effect of technology create an ever-broader payments landscape.
Contactless, NFC payment, m-wallets, cross border and person-to-person transactions, and the emergence of virtual currencies are all contributing to growth.
It’s a market too that is being shaped by the demands of a new generation of retail customers: one in which simplicity, speed and convenience are king.
At the same time, we’ve seen the traditional banking and settlement value chain come under pressure from big brand entrants – from mobile operators, Google, Apple and others. These new entrants are changing the dynamics of the industry as new commercial partnerships and models develop to offer an ever-widening range of convenient payment options to consumers and businesses.
This rate of change raises some interesting questions: how to secure ‘card/person not present’ transactions; how to protect customer data; and how to guard against a new breed of cyber criminal looking to capitalize on vulnerabilities. Moreover, the appearance of non-traditional players - who may lack the structural understanding, or the technical or financial means to create a fully secure end-to-end environment – could pose serious challenges for banks, regulators, standards bodies and merchants alike.
So what will the future bring? While attempting predications in this heterogeneous retail payments landscape can be an uncertain and somewhat random exercise, the SPA considers the following “12 key trends to watch” to be significant in the coming years.
The Internet of Things: A Prime Opportunity for Merchant AcquirersCognizant
For merchants, the Internet of Things’ vast connectivity makes it easy for consumers to purchase within an environment that is intuitive, familiar and comfortable. For acquirers, there is the opportunity to provide various interfaces for accepting payments from all connected touchpoints -- creating an omnichannel experience for customers.
The ten key steps for a successful mPOS solutionPascal CORABOEUF
From telcos to startups, from leading financial institutions to e-commerce providers, new organizations and new geographies are looking to provide mobile point of sale (mPOS) solutions to merchants and businesses.
See the ten key steps for mPOS service providers to transform merchant-consumer interaction to an easier, richer and more personalized experience
Demonetization effect on digital payments solutions in india by Balaji Prince Bala
The aim of the research is to identify the impact of demonetization in india on the digital payment platform.
This research helps to MBA students for their better understanding about the final year project format...i hope my research will help you.. thank you..
Digital Payment Market size is projected to reach US$ 24.31 Trillion by 2030, according to Renub Research. The digital payments industry has experienced speedy expansion due to Internet evolution and increased e-commerce. Digitalization has brought about diverse digital payment alternatives, including payment cards, virtual and mobile wallets, digital cash, and contactless methods.
CPNI Mobey Forum Mobile Payment Trusted Service Provider Sept 23 2008The Stilwater Group
Mobey Forum quarterly meeting Sept 23, 2008. The opportunity for banks and the entire mobile payment ecosystem created by focusing on remote mobile payments.
This presentation explores what future of commerce may look like given the current trends in mobile devices, digital payments, social commerce and security including tokenization and new forms of identity verification
This report was submitted as a course project for "ECO301- Introduction to Economics" at IIIT-Delhi in collaboration with Shubham Singhal.
Project guide: Prof. Shreemoy Mishra
Tap to Pay transactions are inherently secure. The best payment processor employs technologies such as tokenization and encryption to protect sensitive information, reducing the risk of fraud. To know more about this visit: https://webpays.com/payment-processing-companies.html
Secure Payments: How Card Issuers and Merchants Can Stay Ahead of FraudstersCognizant
Our latest research reveals that merchants and card issuers should take a layered approach to mitigating risk, by working with consumers to improve fraud detection and prevention.
Similar to Payments & Infrastructure - Part II. Verifone (20)
Global Powers of Retailing Deloitte 2018Oliver Grave
Global Powers of Retailing Top 250
The 21st annual Global Powers of Retailing identifies the 250 largest retailers around the world based on publicly available data for FY2016 (fiscal years ended through June 2017), and analyzes their performance across geographies and product sectors. It also provides a global economic outlook and looks at the 50 fastest-growing retailers and new entrants to the Top 250.
The top five largest retailers maintained their positions on the leader board. A combination of organic growth, acquisitions, and exchange rate volatility shuffled the rest of the Top 10—which now accounts for 30.7 percent of the overall Top 250’s retail revenue (compared to 30.4 percent last year).
Retailers of fast-moving consumer goods (FMCG) are by far, the largest companies (average retail revenue of nearly US$21.7 billion) as well as the most numerous (135 retailers accounting for 54 percent of all Top 250 companies and two-thirds of Top 250 revenue).
Transformative change, reinvigorated commerce
The rules of retailing are being rewritten in this time of transformative change. Innovation, collaboration, consolidation, integration, and automation will likely be required to reinvigorate commerce, profoundly impacting the way retailers do business now, and in the future. Across the retail industry, disruption of traditional business models has given way to unprecedented and transformative change—change required online and offline to better serve more demanding shoppers and redefining customer experience.
The four trends identified in the report are:
- Building top-notch digital capabilities
- Combining bricks and clicks makes up for lost time
- Creating unique and compelling in-store experiences
- Reinventing retail with the latest technologies
Americas - home of the biggest Jackpot Lottery - the largest Casino Operators - and prosperous Emerging Market Territories. This list of Major Gaming Operations might be helpful to explore new business opportunities in North and South America.
Major Gaming Operations - ASIA / EURASIAOliver Grave
With 60% of the World Population and a median age of 31 years - Asia is the most prosperous region for future gaming operations. This overview of Major Gaming Operations might be helpful to identify new market territories and business partners across Asia / Eurasia.
Challenged by robust state monopolies, different regulatory restrictions and divers consumer habits - few European Gaming Companies master exponential growth. This map of Major Gaming Operations might be useful to evaluate business opportunities and identify most prosperous Operators in Europe.
No matter how you build and grow your gaming business (by individual preferences - random opportunity -or rational formula) this Summary of Major Gaming Operations might be useful to explore and analyse new prospects in Africa.
This report marks the 20th year of identifying
the 250 largest retailers around the world and
analyzing their performance across geographies,
sectors, and channels.
Over the last 20 years we have seen a seismic shift
in retail and the customers that retailers serve.
Consider that in 1997, the inaugural year of this report,
today’s average Amazon Prime customer was just
16 years old, AOL was pioneering social media, and
handheld virtual pets were the hottest-selling toys.
Today, handheld (or wearable) digital devices are
ubiquitous and a younger, social customer has come of
age. We are living in an era where customers are in the
driver’s seat more than ever before and they are craving
authenticity, newness, convenience, and creativity. We
are living in the customer-driven economy.
International auditor and consultancy KPMG has published an eGaming specific industry report detailing current sector trends, risks and challenges as part of its ‘KPMG eGaming Summit’
he 70-page report sponsored by Continent 8 Technologies, features a detailed summary of all the sessions from the day which covered everything from the market’s view of the sector and recent deals, to the introduction of the National Online Self-Exclusion Scheme (NOSES) and key issues as such as cyber security, reputation and regulatory divergence.
State of the Web in 2016 - Mary MeekerOliver Grave
Mary Meeker of Kleiner Perkins Caufield & Byers puts together a fascinating and influential presentation each year on the state of the web.
The report, chock-full of insights and stats, delves into the biggest trends in digital.
She just released 2016's presentation at Vox Media's Code Conference.
Big themes this year include how search is changing, the impact of messaging apps, and the future of transportation.
Capitalizing on the shifting consumer food value equationOliver Grave
Capitalizing on the shifting consumer food value equation - To help retailers and manufacturers better understand the drivers of consumer values, Deloitte Consulting, the Food Marketing Institute and the Grocery Manufacturers Association conducted a joint study.
1.Wireless Communication System_Wireless communication is a broad term that i...JeyaPerumal1
Wireless communication involves the transmission of information over a distance without the help of wires, cables or any other forms of electrical conductors.
Wireless communication is a broad term that incorporates all procedures and forms of connecting and communicating between two or more devices using a wireless signal through wireless communication technologies and devices.
Features of Wireless Communication
The evolution of wireless technology has brought many advancements with its effective features.
The transmitted distance can be anywhere between a few meters (for example, a television's remote control) and thousands of kilometers (for example, radio communication).
Wireless communication can be used for cellular telephony, wireless access to the internet, wireless home networking, and so on.
ER(Entity Relationship) Diagram for online shopping - TAEHimani415946
https://bit.ly/3KACoyV
The ER diagram for the project is the foundation for the building of the database of the project. The properties, datatypes, and attributes are defined by the ER diagram.
This 7-second Brain Wave Ritual Attracts Money To You.!nirahealhty
Discover the power of a simple 7-second brain wave ritual that can attract wealth and abundance into your life. By tapping into specific brain frequencies, this technique helps you manifest financial success effortlessly. Ready to transform your financial future? Try this powerful ritual and start attracting money today!
Multi-cluster Kubernetes Networking- Patterns, Projects and GuidelinesSanjeev Rampal
Talk presented at Kubernetes Community Day, New York, May 2024.
Technical summary of Multi-Cluster Kubernetes Networking architectures with focus on 4 key topics.
1) Key patterns for Multi-cluster architectures
2) Architectural comparison of several OSS/ CNCF projects to address these patterns
3) Evolution trends for the APIs of these projects
4) Some design recommendations & guidelines for adopting/ deploying these solutions.
Multi-cluster Kubernetes Networking- Patterns, Projects and Guidelines
Payments & Infrastructure - Part II. Verifone
1. Fundamental
Considerations for
Cashless Payments
in Emerging Markets
There is a seemingly endless variety of technologies for accepting
cashless transactions; however, there is no “one size fits all,” which can
make finding the right payment solution a daunting process—especially
in emerging markets where many obstacles can threaten digital
commerce success.
2. 1
Fundamental Considerations for Cashless Payments in Emerging Markets
This 3-Part series highlights the following variables that stakeholders in developing markets should consider
when evaluating cashless payment technologies:
I. Infrastructure
II. Merchant and Consumer Trends
III. Processing and Acquiring Capabilities
Part I covered basic infrastructure for introducing and expanding cashless (or “less cash”) ecosystems.
Infrastructure providing access to electricity and the web dramatically varies in strength and availability in
emerging markets, and payment technologies have differing internet and electrical requirements. The strength
and availability of both types of infrastructure demand special consideration, as it can help guide stakeholders’
toward the most appropriate solution for making their cashless visions a reality. Considering these variables
can increase the chances of successful payment technology deployment and the ability to manage, service
and grow cashless payment assets in the future.
PART II: Consumer Payment Trends & Local Merchants
Cashless ecosystems are futile without significant adoption among merchants and consumers. Understanding
the needs and preferences of both audiences is important for stakeholders to determine the cashless
payment systems that are most practical to their market, and thus, are most likely to see large-scale adoption.
Consumer Payment Trends
Today, more than 300 types of cashless payments are used around the world. Card-based payments--credit,
debit, charge and pre-paid—represent nearly 60% of cashless methods used globally. Cards differ by how
they store account information. Typically, data is stored in EMV or RFID (contactless) chips, or in magnetic
stripes embedded on the card. Payment devices are configured to read information based on how it is stored
on the card before transmitting it throughout the payment network to complete transactions.
Mobile payments, such as Apple Pay, Samsung Pay, PayPal, Android Pay and other alternative payment
methods—represent just over 20% of the cashless payments used globally. Account information is stored
in a cellphone—either in a mobile app or on a decal fixed to the device—and transmitted to a mobile-
enabled payment terminal via near field communication (NFC). By 2019, use of mobile payments is expected
to increase by more than 10%, and most of the growth is expected within developing markets where
smartphone proliferation is surprisingly high.
3. 2
Fundamental Considerations for Cashless Payments in Emerging Markets
Latin
America
Asia/
Pacific
Middle
East
Sub-Saha-
ran Africa
0
20
40
60
80
100
Selecting hardware that accepts multiple card-based payment methods can ensure longevity of stakeholders’
investments by preventing them from having to replace devices whenever new card-based payments are
introduced. However, it’s just as important to think beyond cards—despite their current dominance in the
global cashless arena. Adoption of in-store payments is largely driven by consumers, and evidence shows that
alternative methods—particularly mobile payments—
have the greatest potential for adoption in markets
where consumers are more likely to have a smartphone
than a bank account, and where card use is relatively
low among the banked population.
Fortunately, there are devices that have the
ability to accept all forms of card and mobile
payments, and many can also be configured
to accommodate new methods in the future
through minor software updates.
Owns a
Smartphone
Banked &
Uses Card
Unbanked
4. 3
Fundamental Considerations for Cashless Payments in Emerging Markets
Local Merchant Models
Besides payment acceptance capabilities, cashless devices are diverse in terms of form factor, features and
functionality—and some may not be appropriate for certain merchants.
Retailers & Large Merchants
Retailers and large merchants typically have existing cashless payment acceptance capabilities and
relationships with local and/or global financial institutions. Likewise, they are more likely to have an
established market presence, as well as relatively tech-savvy customers and employees. Typically, expanding
cashless capabilities is the goal of this segment, and many are placing greater emphasis on cashless systems
that can help improve business intelligence, efficiency and consumer loyalty.
These include devices that can connect to cloud-based platforms, offering the ability to monitor sales
and transactions in real-time—at specific sites and throughout the entire enterprise—and greatly simplify
compliance and reporting processes. Other features can empower them to engage consumers with special
digital offers during checkout, conduct transactions at the counter or in the aisle, support mobile commerce
apps, and create unique in-store experiences that strengthen their brand.
Large merchants and retailers are critical to promoting the concept of cashless in underbanked regions, as
they tend to be the earliest adopters of B2C technology innovation. They also purchase the highest volume
of technology, which can help create an economy of scale for their smaller counterparts. When evaluating
technologies for this segment, stakeholders should consider payment devices with cloud connectivity through
a variety of operating systems, dual countertop and mobile point of sale (mPOS) capabilities, consumer-
facing multimedia screens, and advanced processing speeds –all of which can support the in-store shopping
experience they want to provide in the future.
Micro-merchants & Small Businesses (MSMs)
Emerging markets are home to more than 180 million micro-merchants and small businesses (MSMs).
These include everything from small restaurants and shops, to merchants and service providers that conduct
business door-to-door or in open-air environments. By definition, each has fewer than 10 employees and
experiences exceptionally high employee turnover. Nonetheless, MSMs eclipse the number of retailers and
large merchants in most markets; more than 95% of merchants in Brazil are MSMs. In India, more than 1.5
million merchants comprise this segment, which contributes as much as 20% of the country’s GDP.
5. 4
Fundamental Considerations for Cashless Payments in Emerging Markets
Snapshots of Success
The importance of considering consumer trends and local merchant environments when evaluating and
selecting cashless technologies is evident in the following snapshot of projects taking place in different
markets around the world:
INDIA
High transaction fees imposed on card-based transactions by global card brands were hampering India’s
initiatives to improve financial inclusion and reduce its economy’s reliance on cash. In response, the
government agency—National Payments Corporation of India (NPCI)—along with backing from 10 public
and private sector banks, developed RuPay, a domestic EMV and contactless card scheme that is more
affordable for local banks and merchants. To help ensure RuPay acceptance, NPCI partnered with a payment
technology innovator that had a footprint of more than 800,000 cashless devices used by India’s retail, petro
and transit industries to accept card-based and NFC payments. As a result of their flexibility, the devices
were able to support the new payment scheme with a software update. Today, RuPay cards are issued by
approximately 240 banks to consumers in rural and urban areas and are used for more than 20% of all
transactions in India.
MALAYSIA
The Malaysian Electronic Payment System (MEPS) is a payment consortium focused on expanding cashless
capabilities throughout Malaysia. In 2015, MEPS issued a rigorous new set of EMV chip and contactless card
standards to ensure the security, compliance and global interoperability of Malaysia’s payment infrastructure.
MEPS, as well as the many financial institutions comprising its interbank network, partnered with a payment
and commerce technology provider to offer the market’s first MEPS-certified cashless solution. Devices
within the solution enable merchants throughout Malaysia to accept card - and NFC-based MEPS payments
from consumers in all environments, helping the country and its financial institutions continue reducing the
use of cash in new and secure ways.
INDONESIA
Use of digital payments continues steeply increasing in Indonesia, where consumers see them as a more
efficient and less complicated alternative to cash. However, recent news reports indicate growing frustration
over the lack of interoperability among the country’s large volume of installed cashless devices, which prevent
consumers from consistently being able to use digital payments while shopping. To address the issue, Bank
Indonesia—in partnership with the Indonesia Payment System Association—will release new regulation in
the coming months to enable interoperability and interconnectivity among all digital payment systems in the
country.
6. 5
Fundamental Considerations for Cashless Payments in Emerging Markets
THAILAND
As part of its move toward becoming a cashless society, Thailand launched PromptPay—a national digital
payment scheme that enables consumers to pay electronically and quickly transfer money online to
recipients with accounts at different banks. According to the Thai Bankers’ Association, 60% of all payments
in Thailand could become cashless within the next five years if enough digital payment devices are installed
throughout the country. Bangkok Bank, one of the largest commercial banks in Thailand, is helping fuel
the availability of such technology through its partnership with a leading payments innovator, which enables
it to provide merchants with flexible devices that accept PromptPay and all other cashless schemes in any
environment, and support digital loyalty incentives during checkout.
KUWAIT
A growing number of banks throughout the Gulf are offering NFC and contactless cards to consumers. This
is especially the case in Kuwait, which has a large and growing population of young adults and the highest
mobile internet usage in the region. Recognizing this trend, KNET—Kuwait’s leading payment provider—
joined forces with a global payment innovator to provide devices capable of supporting all payment types,
including NFC and contactless, preparing the country’s merchants for mass acceptance of cashless payment
methods once they go live in the market.
BRAZIL
Merchants in Brazil want the ability to accept contactless cards, as well as NFC payments due to the
proliferation of smartphones throughout the country. Large merchants want to differentiate themselves
by being able to checkout customers at the counter—or in the aisle—while also providing digital offers,
discounts and other loyalty incentives. And, portability is equally as important to the MSMs dominating
Brazil’s merchant landscape. Acqio Franchising—a network of specialized franchises offering mobile
payment devices in Brazil—recently selected a cashless solution to address these needs. The solution
increases Acqio’s product portfolio with a hand-held NFC- and contactless-enabled device featuring multiple
connectivity options (Wi-Fi, 3G and Bluetooth). The device offers Brazil’s large merchants and MSMs the
payment flexibility and portability they need. And, the solution’s multimedia capabilities can enable retailers to
provide a unique shopping experience to consumers as well.
7. 6
Fundamental Considerations for Cashless Payments in Emerging Markets
Up Next
Again, for cashless ecosystems to be successful, digital payment technology must be embraced by
merchants and consumers alike. Practicality helps ensure market adoption, which is why considering
consumer trends and local merchant environments is critical when evaluating cashless solutions.
Up next in Part III of this series, the importance of processing and acquiring capabilities will be highlighted.
Considering such capabilities is critical to ensure not only the successful deployment of digital payment
technologies, but also the ability to manage, sustain and secure cashless ecosystems moving forward.