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.
Call, Data Rate to Jump 100% as FG Imposes 5% Excise Duty on Telecoms
Call and Data rates could jump as much as 100% once the Federal Government implemented 5% excise duty on telecommunication services
Call and Data rates could jump as much as 100% once the Federal Government implemented 5% excise duty on telecommunication services, a source from the sector stated.
According to industry experts, the increment will not only impact subscribers but also increase tax burden on telcos which would translate into rise in tariffs.
This, experts explained would increase the total consumption tax on the sector from just the 7.5% Value Added Tax (VAT) to 12.5%, a situation they said would worsen Nigerians’ economic status given the ongoing happenings in the country.
If implemented, Nigerians are now expected to be paying as much as N40 a minute, up from N20 and could be paying up to N2,500 per gigabyte.
Last week, Isa Pantami, Nigeria’s Minister of Communications and Digital Economy, decried the new tax, threatening to take the Federal Government to court for overburden the industry with so much taxes at a time when the telecommunication sector and the entire Nigerian economy was not faring well.
He said: “The 5 percent excise duty will overburden the industry. As a Minister, I was neither consulted nor obtained a memo to that effect. Even the appropriate lawmakers that were supposed to be talked with have also told me they were not.
”Things are not done that way. Besides condemning the tax, we will take every lawful step to guarantee that the tax does not stand.”
However, Ahmed Zainab, Nigeria’s Finance Minister, had different excuse for going ahead with the new 5% excise duty. According to her, the new 5% excise duty was in line with 2020 Finance Act and was part of Federal Government efforts at augmenting the nation’s revenue, especially from the non-oil sector.
The National Association of Telecoms Subscribers and the Nigerian Telecommunication Consumer have joined Pantami and other Nigerians to kick against the decision they considered wicked and inconsiderate.
Chief Adeolu Ogunbajo, president National Association of Telecoms Subscribers (NATCOMS) also added his voice. He said the sector is barely holding its ground with the existing 7.5 percent VAT, additional 5 percent will sum the total VAT in the sector to 12.5 percent. This is a killer move on the sector, he said.
Soft POS User Base to Grow 475% Globally by 2027
The total number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027
A new study from Juniper Research has found the total number of merchants deploying soft POS solutions will surpass 34.5 million globally by 2027; rising from 6 million in 2022. This growth will be driven by Apple’s entrance into the soft POS space; enabling iOS users to access an affordable mobile POS solution.
Soft POS enables NFC enabled smartphones or tablets to accept contactless payments, without additional hardware.
1.2 Billion iOS Users Added to Soft POS Market
The research forecasts that Apple’s decision to enable third parties to develop soft POS solutions leveraging iOS NFC capabilities will result in an influx of iOS-specific services; leading to innovative solutions for merchants. Furthermore, the research predicts Apple’s entry will provide 1.2 billion iOS users with soft POS capabilities; unlocking a previously untapped market.
Soft POS is the latest development from Apple within the payments space; building upon Apple Pay and Apple Pay Later. Soft POS vendors should leverage Apple’s payment ecosystem by developing innovative solutions such as integrated QR payment acceptance, using Apple Pay and Pay Later compatibility to attract a broader iOS user base.
Increasing Contactless Payment Adoption to Drive Soft POS Uptake
The research anticipates soft POS adoption being driven by the increasing use of contactless payments – with volumes expected to rise from 195 billion in 2022 to 408 billion by 2027. Therefore, consumers will come to expect contactless acceptance as standard; forcing smaller merchants to adopt contactless-capable POS solutions. Merchants are anticipated to embrace soft POS, based on cost savings achievable from eliminating the need for additional hardware, as well as mobility advantages over contactless POS.
This will be profound for small-sum and mobile merchants that must accept contactless transactions, but lack the need for high-cost dedicated terminals. As such, the research recommends soft POS vendors must look to target micro and mobile merchants; designing solutions that meet their unique needs.
Buy Now Pay Later Users to Reach Over 900 Million Globally by 2027
Buy Now Pay Later users will surpass 900 million globally by 2027; increasing from 360 million in 2022.
A new study from Juniper Research has predicted that the number of BNPL (Buy Now Pay Later) users will surpass 900 million globally by 2027; increasing from 360 million in 2022. This substantial growth of 157% will be driven by the anticipated economic downturn, which will increase the demand for low-cost credit solutions.
BNPL schemes enable consumers to spread the cost of their purchases without interest charges; making them a highly attractive alternative to credit cards. Additionally, BNPL services do not require hard credit checks and an increasing number of merchants are accepting this payment method; making it easier to access for consumers than traditional credit.
India to Experience High User Growth
The research identified India as having potential for rapid growth in BNPL, with users predicted to grow from 25 million in 2022 to 116 million by 2027. This is due to rising eCommerce usage and growing interest in international goods available through online retailers. In turn, it recommends that vendors build strategic partnerships with vendors in developing markets with established consumer bases, to successfully capitalise on this user growth and associated revenue.
Virtual Cards to Further Boost Usage
The research predicts that the adoption of virtual cards, where digital only cards are used for purchases, will increase the usage of BNPL solutions, as they only require merchants to accept card payments – overcoming previous limitations on growth. The advancement of virtual cards allows BNPL schemes to compete with credit cards; particularly in-store, where single use BNPL cards can be used within a digital wallet to complete contactless transactions.
Juniper Research recommends that in order to compete in this highly competitive landscape, BNPL vendors must differentiate their services: including offering virtual cards, browser extensions that automatically facilitate BNPL payment services, and digital loyalty schemes.
Economy4 weeks ago
The Diplomatic Cold War South Africa is Fighting With Nigeria – Rooted in Xenophobia?
Nigerian Exchange Limited3 weeks ago
Stock Market Declined Marginally on Tuesday
Banking Sector3 weeks ago
FirstBank: Leveraging Digital Banking Solutions For Excellent Performance
Markets3 weeks ago
Bear Market Rally Back On?
Crude Oil4 weeks ago
Brent Crude Oil Extends Decline to $94, Nigeria Revenue to Drop
Finance4 weeks ago
11th Swiss Payment Forum: Our Future in the Metaverse
Markets4 weeks ago
The Ship Has Sailed
Banking Sector3 weeks ago
Zenith Bank Holds Seminar on Non-Oil Export to Deepen Nigeria’s Growth