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Mobile Payments Grow by 184% in 2019

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  • Mobile Payments Grow by 184% in 2019

Efforts of the Central Bank of Nigeria to encourage cashless policy have started materialising as more Nigerians embraced mobile payments in 2019.

According to the recent data from the Nigerian Inter-Bank Settlement Scheme, mobile payments rose by 184 percent from N292.02 billion achieved in 2018 to N828.1 billion in 2019.

The total volume of mobile payments surged by 470 percent during the period under review as more agents aggregated 41.21 million payments, up from 7,23 million in 2018.

“There has been a steady growth in the value and volume of mobile payments since the Central Bank of Nigeria, in collaboration with other stakeholders, introduced the agency banking scheme to reach the unbanked and under-banked population with financial services and deepen financial inclusion.”

“The agent networks are able to carry out BVN enrolment, cash-in, cash-out, airtime recharge, bills payment and funds transfer for customers in remote areas.”

A breakdown of the report revealed mobile payments grew by 28 percent in the month of January to N26.83 billion in 2019, up from N20.95 billion.

In February, value of mobile payments stood at N30.03 billion against N22.40 billion recorded in the same month of preceeding year.

In March, mobile payments grew by 58 percent to N38.44 billion, up from N24.39 billion from March 2018. Also, 73 percent increment was recorded in April when N23.98 billion transactions were recorded.

In May transactions rose by 85 percent from N46.85 billion to N25.24 billion recorded in the same month of 2018.

June saw N45.28 billion; July N60.13 billion; AUgust N84.81 billion; September N87.50 billion; October N103.67 billion; November N114.04 billion and December N148.97 billion.

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.

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Dell Partners Other Firms to Establish Tech Centre in Nigeria

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Dell, Other Tech Firms Partner to Establish Tech Centre in Nigeria

Dell Technologies said it has partnered other global tech giants to establish Tech Experience Centre that will bridge the gap to technologies for millions of people in Nigeria.

Dell Technologies Director, Central and West Africa, Nicholas Travers, in a statement, said the project expected to be launched on October 1, would help cut costs, reduce capital flight and boost technology adoption in the country.

Travers lauded TD Africa, Sub-Saharan Africa’s foremost tech, lifestyle and solutions distributor, for the landmark initiative.

We believe the Tech Experience Centre will help reduce the decision making cycle and save huge costs and time of traveling to locations outside our continent to visit and experience these technologies at work.

“This is a fantastic initiative by TD Africa, perhaps the first of its kind in the region and we are proud to be part of it,” he said.

According to him, the project will go a long way in helping Dell Technologies showcase its suite of cutting-edge technologies.

The launch of the Experience Centre will support the growth of technology in Nigeria and the West African region.

“Also, it provides a fantastic platform for Dell Technologies to showcase the very many technologies we offer,” Travers said.

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Newly Founded Cybersecurity Startups Raise Over $31m in 2020

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Cybersecurity Startups Raise Over $31m in 2020

According to data presented by the Atlas VPN team, there are 78 new cybersecurity companies founded in 2020 that cumulatively have raised over $31.6 million in funding year-to-date.

Only 15% of cybersecurity startups launched in 2020 secured funding. However, three companies alone collected nearly 96% ($30.3 million) of the total amount of investments.

The startup that scored the most significant investment is Beyond. It secured a total of $21 million in February of 2020, which accounts for more than 66% of total investments into newly launched cybersecurity startups this year.

A cybersecurity company with the second biggest investment is Sevco Security, which raised over $6.7 million in May of 2020.

Also, in the list of top three cybersecurity startups in terms of funding is Soc.OS. It received more than $2.5 million in investments in July this year.

Most of this year’s cybersecurity companies are from North America or particularly the US. They make up nearly 35% (27) of all the cybersecurity startups launched in 2020.

A number of new cybersecurity startups is shrinking each year

While the amount of cyber incidents is increasing and cyberattacks are becoming more sophisticated, the number of new cybersecurity startups is declining each year.

Historical data shows that in 2015 there were 490 cybersecurity companies launched. Together the startups raised over $3.1 billion in investments.

The year of 2016 saw a slightly smaller number of new cybersecurity companies. The launch of new startups in the cybersecurity field decreased by 0.8%, with 486 startups launched that year. The total amount of funding allocated to those startups, however, dropped in half, from $3.1 billion to $1.6 billion.

In 2017 the number of new cybersecurity startups plummeted again by 0.8%. There were 482 cybersecurity companies founded that year, which raised more than $1.3 billion in total — 17% less than in 2016.

The number of new cybersecurity startups dropped by more than a fifth in 2018 compared to the year before. A total of 382 cybersecurity companies were launched that year, which collected over $847 million in investments. The amount of funds invested in the cybersecurity startups also dropped by 35% compared to 2017.

Last year saw a 46% decrease in the launch of new cybersecurity startups. There were 207 these types of companies founded. Together they raised close to $229.5 million in investments — 73% less than the year before.

Finally, this year’s cybersecurity market has welcomed 78 newcomers — the number has shrunk by 62% compared to last year. However, 2020 is not over yet; hence we can expect the numbers of cybersecurity companies to increase slightly.

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Nintendo DS Dominates North America and Japan Selling Over 90 Million Units

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Nintendo DS Sells 90 Million Units North America and Japan

Data presented by Safe Betting Sites shows that Nintendo DS has dominated sales in North America and Japan with a total of 90.4 million units sold. About 57.3 million Nintendo DS units had been sold in North America while in Japan the figure stands at 33.01 million units.

PlayStation 2 highest selling console globally

As of September 2020, in North America, PlayStation 2 has sold the second-highest number of units at 53.65 million units sold. Xbox 360 is third with 49.11 million units followed by Nintendo Wii at 45.51 million while Game Boy is fifth with 43.18 million units.

Other high selling consoles include PlayStation(40.78 million), Game Boy Advance(40.39 million), PlayStation 4(37.36 million), Nintendo ES(33.49 million), Xbox One (31.39 million)

In Japan, Game Boy has the second highway selling units at 32.47 million followed by Nintendo 3DS at 24.62 million. PlayStation 2has sold 23.18 million units while PlayStation is fifth with 21.59 million units sold.

Other high selling consoles include PlayStation Portable(20.01 million), Nintendo ES(19.35 million), SNES (17.17 million), Game Boy(16.96 million), and Nintendo Switch(15.17 million).

The research highlights the evolution of the gaming industry. According to the research report:

Overall, the video games market has witnessed significant spending over recent years. However, the emergence of low-cost games for mobile devices has slowed demand for video game consoles. The industry has experienced almost a complete overhaul of how games are purchased, played, and shared with others. The industry’s shift to online services has served to insulate the industry from shocks to retail and manufacturing channels.

The Safe Betting Sites research also reviewed the highest selling consoles globally. PlayStation 2 holds the pole position with 157.68 million units followed by Nintendo DS at 154.9 million. In the third spot, Game Boy has sold 118.69 million units followed by PlayStation 4 at 113.3 million units. Wii is fifth with 101.64 million units sold.

 

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