Connect with us

Technology

Lagos State, Ride-Hailing Companies Agree on Charges

Published

on

Uber

Lagos State and Ride-Hailing Companies Agree on New Charges

Lagos State Government and ride-hailing companies have finally reached a workable agreement following the sudden imposition of charges on ride-hailing companies operating the state.

In a statement signed by Gboyega Akosile, the Chief Press Secretary to the state governor and titled ‘Lagos govt, e-hailing operators agree on new regulation’, the Lagos State Government said the ride-hailing companies will now be paying N20 known as Road Improvement Fund on each trip their drivers make in a day effective from August 27.

In the statement, the Commissioner for Transportation, Frederic Oladehinde, said Governor Sanwo-Olu has offered ride-hailing companies a 20 percent duty incentive. This means that each ride-hailing company will now pay N8 million for operational licence and renewal fee per 1,000 cars, instead of the N10 million previously announced.

He said: “We have just concluded a three-hour meeting which was attended by Governor Sanwo-Olu, Ministry of Transportation officials and representatives of the e-hailing ride operators. After the meeting, we jointly developed a communique to which all parties agreed in relation to the new regulations for e-hailing ride business.

“The regulations for the e-hailing companies will take effect from August 27, 2020. We have given an additional one-week extension for all operators to comply. Given that most of the drivers on the e-hailing platforms have third party insurance, the companies will have comprehensive insurance for each driver while the driver is working with them. The insurance will also cover passengers, which amounts to double insurance for the driver.

“We also discussed the issue of service tax, which was initially defined as 10 per cent charge. We have come to resolution that the levy will become a flat fee of N20 per trip. We no longer call it service tax; we now call it Road Improvement Fund, which will be levied per trip. We also came to resolution that there will be reduction in operational licence by 20 per cent. Likewise, the renewal fee has been reduced by 20 per cent, going forward.

CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade experience in the global financial markets.

Technology

World’s Richest Man Jeff Bezos Backed African Fintech Startup, Chipper Cash

Published

on

The world’s richest man, Jeff Bezos, has invested in an African fintech start-up, Chipper Cash, according to the latest report from Tech Crunch.

Chipper Cash, a startup that helps facilitate money transfer across Africa and beyond, raised a $30 million Series B funding round led by Ribbit Capital with participation from Bezos Expeditions, a personal VC fund of Jeff Bezos, the founder and CEO of Amazon Inc.

Chipper Cash currently has 3 million users on its platform and processes an average of 80,000 transactions per day. The startup operates in the following seven African countries; Ghana, Uganda, Nigeria, Tanzania, Rwanda, South Africa and Kenya.

According to Ham Serunjogi, the Chief Executive Officer, Chipper Cash, the company attained a monthly payments value of $100 million in June 2020.

As part of efforts to grow beyond its current market, Chipper Cash plans to expand its product and geographical reach. In terms of product, the company plans to add cryptocurrency trading options and investment services.

We’ll always be a P2P financial transfer platform at our core. But we’ve had demand from our users to offer other value services…like purchasing cryptocurrency assets and making investments in stocks,” Serunjogi stated on the phone.The fintech company recently added beta dropdowns to its website and mobile application to enable customers to buy and sell Bitcoin and even invest in United States stocks from Africa. It partners DriveWealth, a U.S financial services company, to allow stock trading.

We’ll launch [the stock product] in Nigeria first so Nigerians have the option to buy fractional stocks — Tesla shares, Apple shares or Amazon shares and others — through our app. We’ll expand into other countries thereafter,” said Serunjogi.

On the financial service side, Chipper Cash plans to offer more API payments solutions. “We’ve been getting a lot of requests from people on our P2P platform, who also have business enterprises, to be able to collect payments for sale of goods,” explained Serunjogi.

Continue Reading

Technology

Top Four Social Networks Boast 8 Billion Active Users in Q3 2020

Published

on

facebook and google ads revenue uk

In Q3 2020, Facebook inched closer to becoming the first social network with 3 billion users. Based on the research data analyzed and published by Comprar Acciones, it had 2.74 billion monthly active users at the end of September 2020, up by 12% year-over-year (YoY).

Facebook was the most popular social networking platform. YouTube and WhatsApp followed with 2 billion users each, while Messenger was third with 1.3 billion. In total, the four had a cumulative 8 billion users.

Facebook Family User Base Grows to 3.21 Billion in Q3 2020

During the period, Facebook also had a 12% quarter-over-quarter (QoQ) increase in the total number of its daily active users (DAUs), to reach 1.82 billion. Asia Pacific led in DAUs, going from 699 million in Q2 to 727 million in Q3 2020. Europe remained flat at 305 million, while the US & Canada dropped from 198 million to 196 million.

In terms of monthly active users (MAUs), Asia Pacific was also the top market with 1.17 billion users. Europe followed with 413 million, while the US & Canada had 255 million.

In the same period, the Facebook family of apps had a total of 3.21 billion users globally. Of its messaging platforms, WhatsApp was the most popular with 2 billion monthly users in October 2020. Facebook Messenger was second with 1.3 billion monthly users.

On the other hand, YouTube reported that its Premium and Music services had 30 million paid subscribers in Q3 2020. The number had doubled in less than 18 months as it only had 15 million paid subscribers in May 2019.

According to Sensor Tower, Youtube was the second highest grossing mobile app in Q3 2020 across both Google Play Store and Apple App Store. During the period, its revenue increased by 59% YoY. On the other hand, Facebook came in second on the list of top mobile apps by downloads, in spite of a 2% YoY drop.

Continue Reading

Technology

LinkedIn Phishing Scams Most Clicked With a 47% Open Rate in Q3 2020

Published

on

Linkedin

According to data presented by the Atlas VPN team, emails with a keyword “LinkedIn” in the subject line topped the list of most opened social media phishing emails three years in a row. In Q3 2020, LinkedIn phishing emails had a 47% open rate — only a 1% drop from the same period last year.

Top-clicked LinkedIn phishing emails include such subject lines as “You appeared in new searches this week!”, “People are looking at your LinkedIn profile”, “Please add me to your Linkedin network”, and “Join my network on LinkedIn”.

The second most opened social media phishing emails include the keyword “Twitter”. Emails with a subject line “Someone has sent you a direct message on Twitter!” had a 15% open rate.

Phishing attacks exploiting Twitter were followed by Facebook phishing scams. Emails titled “Your friend tagged you in photos on Facebook” had a 12% click rate.

Payroll phishing emails were the most opened last quarter

Cybercriminals are often targeting employees, as such attacks can yield much higher profits. What is more, phishing emails are usually disguised as legitimate and basic messages employees see day after day.

That is one of the reasons why when it comes to general email subject lines, the top most opened phishing emails in the third quarter of this year were payroll emails. More specifically, emails titled “Payroll Deduction Form” had an impressive 33% open rate.

Furthermore, as the worldwide pandemic is still ongoing, COVID-19 themed emails continued to lure people into the phishing traps. Emails with keywords “COVID-19” and “pandemic” saw a 32% open rate.

Continue Reading

Trending