Connect with us

Technology

Facebook, Google Earn 80% of Annual Digital Ads Spend – Report

Published

on

facebook and google ads revenue uk

Facebook, Google Earn 80% of the £14bn Spent on Digital Ads in 2019

A recent report from the United Kingdom’s competition watchdog has shown that Facebook and Google earned 80 percent of all the money spent by advertisers on digital platforms in 2019.

In the 440-page report, the Competition and Markets Authority (CMA), UK said Google and Facebook market positions are having a “profound impact” on newspapers that now receive almost 40 percent of all visits to their sites through the two platforms.

“This dependency potentially squeezes their share of digital advertising revenues, undermining their ability to produce valuable content,” the watchdog said.

This is coming two weeks after Investors King called on the Federal Government of Nigeria to protect Small and Medium businesses against Facebook and Google activities or watch the nation’s SMEs die. Investors King had posited that “Nigerian startups can not compete with Facebook and the recent tax announced by the Federal Government through the ministry of finance would not be enough to stop these giant tech companies from taking advantage of Nigeria’s young growing market.

According to the CMA report, out of the £14 billion spent on digital advertising in the United Kingdom in 2019, Google with more than 90 percent share of market search earned £7.3 billon while Facebook with more than 50 percent of display market earned £5.5 billion. Representing 80 percent of the total digital ads spent in 2019.

While the report admits that the two platforms help small businesses reach customers and are valued by users, it also said they have “developed such unassailable market positions that rivals can no longer compete on equal terms”.

Andrea Coscelli, Chief Executive at CMA, said: “What we have found is concerning – if the market power of these firms goes unchecked, people and businesses will lose out.

“People will carry on handing over more of their personal data than necessary, a lack of competition could mean higher prices for goods and services bought online and we could all miss out on the benefits of the next innovative digital platform.

“Our clear recommendation to government is that a new pro-competitive regulatory regime be established to address the concerns we have identified and regulate a sector which is central to all our lives.”

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 market.

Continue Reading
Comments

Technology

Ecobank Upgrades Mobile App, Launches Cardless Withdrawal Service

Published

on

ATM at lagos

Ecobank Launches Cardless Withdrawal Service

In a move to reach the over 100 million unbanked Nigerians and Africans, Ecobank has launched a cardless withdrawal service to allow a large number of people outside the banking sector access bank services.

According to the bank, its mobile application was upgraded to an all-in-one bank account and payment/cash withdrawal tool.

In the statement released on social media, the lender said its ‘Xpress Cash’ functionality allows customers to access their cash ‘cardless’ at any Ecobank Automated Teller Machine (ATM) using only their mobile phone.

Customers can access cash via e-Token generated from their Ecobank mobile application, according to the bank. The innovation is seamless, secure and reliable.

The bank explained that the e-token can also be redeemed at any of its numerous agent locations across the country.

Speaking on the innovation, Ade Ayeyemi, the Chief Executive Officer (CEO), Ecobank, said “Innovating for customer convenience is in our DNA at Ecobank.

He added: “We have developed this fast, convenient and innovative mobile banking solution – cardless Xpress Cash at our ATMs and Agencies to embed our digital platforms within the lifestyle of our customers and improve the uptake of digital financial solutions by both banked and unbanked in Africa.

Continue Reading

Finance

9mobile Joins MTN, Launches E-Sim Service 

Published

on

9mobile

9mobile Launches E-Sim Service

Nigeria’s mobile network operators have joined the rest of the world in launching E-Sim, an embedded sim.

In July, MTN Nigeria set the ball rolling with the launching of its E-Sim trial. This was followed by 9mobile that launched its E-Sim earlier this month.

E-Sim is a form of an in-built sim that is embedded directly into a device without using a physical Sim.

Speaking on the new E-Sim, the Acting Director of Marketing, 9mobile, Layi Onafowokan, described the latest move as the most excellent experience that advanced technology provides.

According to him, the E-Sim is an in-built sim embedded in mobile devices in order to reduce the possibility of losing or damaging sim and eliminate the stress of dealing with the cutting of sim cards or finding adaptors.

It also enables multiple usage and adaptation of one subscriber profile across a broad range of mobile communication devices, internet of things (IoT) and artificial intelligence (AI) apps including smart commuting, metering, tracking, and surveillance, rather than the restricted single-device use of the conventional SIM card.

Onafowokan said: “Customers can walk into any of our select 9mobile Experience Centres to request E-Sim activation. A QR code will be provided to scan and download E-Sim profile and perform the usual SIM registration.

He added that customers that activate E-Sim service will enjoy up to 7GB data-free while those who want to change to E-Sim will only do a SIM swap at approved centres.

E-Sim is compatible with Google Device like Pixel 3, 3 XL, 4, and Pixel 4 XL. Apple Device like Iphone 11, 11 Pro, 11 Pro Max, Xs, Xs Max and Iphone XR. Samsung S20 Series.

Continue Reading

Technology

Financial Institutions Owe Telecoms Over N17b in Unpaid USSD Service -NCC

Published

on

Telecoms

Banks Owe Telecommunication Companies Over N17b in Unpaid USSD Service

The Nigerian Communications Commission (NCC) has said financial institutions offering Unstructured Supplementary Service Data (USSD) service owe telecommunication companies over N17 billion.

Prof. Umar Danbatta, the Executive Vice Chairman, NCC, disclosed this on Thursday at a virtual forum organised by the Association of Licensed Telecommunications Operators of Nigeria (ALTON).

In the forum titled ‘Meeting the interests of government, consumers and telecoms companies in the era of Covid-19 and post COVID-19 pandemic for digital economy development’, Danbatta said the debt accumulated after the commission suspended its determination on USSD pricing in 2019.

However, the Chairman said in order to protect the interest of consumers and support the growing telecommunications sector, the commission has decided to revise the 2019 determination on USSD.

Speaking on the suspension of end-user billings Dr. Isa Pantami, the Minister of Communications and Digital Economy, said the decision was to ease customers’ burden and ensure justice across the board.

He said, “USSD is a service to banks and not telecoms consumers, and as such, banks should see themselves as corporate customers of telecoms operators with a duty to pay for using the telecoms networks and infrastructure, including USSD channels extended to them for service delivery to their customers.

According to him, “Mobile Network Operators (MNOs) have no direct relationship with bank customers, and cannot therefore charge directly for usage of USSD channel,” he explained.

The NCC, therefore, asked Mobile Network Operators (MNOs) and financial institutions offering USSD service to reach an agreement on a rate that works for both parties.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending