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Mobile Payments Market is Projected to Increase as Technology Advances

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Mobile Payments Market is Projected to Increase as Technology Advances

According to data published by Allied Market Research, the mobile Payments market is expected to reach a value of $3,388 billion by 2022, growing at an impressive CAGR of 33.4% from 2016 to 2022. The report indicates that the rapidly increasing use of smartphones, growth in m-commerce industry, change in lifestyle, and the need for quick and easy transactions are crucial factors that drive the mobile payment growth. The Mobile payments through mobile wallets/bank cards are projected to register the growth rate during the forecast period, owing to the increase in incentivization given by the market players for payment done via wallet and card. Glance Technologies Inc. (OTC: GLNNF), Square, Inc. (NYSE: SQ), PayPal Holdings, Inc. (NASDAQ: PYPL), Global Payments Inc. (NYSE: GPN), Verifone System, Inc. (NYSE: PAY)

In a report by Forbes Peter Olynick, retail banking senior practice lead for NTT DATA, commented the results of a global survey of 2,300 companies and consumers conducted by Ingenico ePayments, Oxford Economics and Charney Research. Peter explained that, “Anytime you can remove the friction of the payment we are seeing those companies are getting a nice uplift. If you walk into a retailer and pick up one or two things and there is a line at checkout, you put it down and walk out because don’t have the 15 minutes it will take for that queue to open up. When we can get to the point where the payment itself is frictionless, we will get those sales that have been lost. We are very high on the idea that removing that friction, such as Uber, or just making it easier and a little bit faster to get through the line, all those things are going to make it be positive to the retailers who do it best.”

Glance Technologies Inc. (OTCQB: GLNNF) also listed on the Canadian Securities Exchange under the Ticker (CSE: GET). Earlier this week the company announced that the, current quarter is already the Company’s strongest ever for launches and merchant partner signings.

The Company has signed 136 new locations and launched 50 new locations in 11 weeks since the current fiscal quarter began on March 1, making it Glance’s best quarter to date for those metrics, with two weeks still left to go in the quarter.

“Our team is gaining momentum, especially with our expansion into the U.S.,” says Glance Technologies’ CEO, Desmond Griffin. “Merchants are increasingly recognizing how the value and power of our Glance Pay app can help their business.”

Glance is looking forward to additional opportunities from its attendance this week at the upcoming National Restaurant Association Show 2018 in Chicago, which runs from May 19 to 22. This is the U.S. restaurant industry’s premier event and the largest annual foodservice trade show in the U.S.

At the trade show, Glance will be one of just 14 exhibitors invited to the exclusive Startup Alley, reserved for top creators and innovators who meet the association’s specific criteria. Admission to this group gives Glance a unique opportunity to bring the Glance Pay app, with its sophisticated anti-fraud technology, into the spotlight.

Representing more than 500,000 restaurant businesses with more than one million outlets across the United States, the National Restaurant Association is the largest foodservice trade association in the world by membership.

Square, Inc. (NYSE: SQ) creates tools that help sellers start, run, and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Recently, the company launched Square for Restaurants, a fully integrated point of sale that matches the pace, complexity, and specific needs of today’s restaurants. Square for Restaurants is the company’s first solution built to serve full-service restaurants, and brings the speed and ease of use for which Square is known to all types of larger restaurants, bars, and lounges. Square will also integrate Caviar directly into Square for Restaurants, marking the first time restaurants will be able to benefit from the simplicity of a combined first-party ordering platform and point of sale. Square for Restaurants is Square’s most sophisticated software solution yet, enabling fast, accurate operations for both the front and back of house.

PayPal Holdings, Inc. (NASDAQ: PYPL) is a leading technology platform company that enables digital and mobile payments on behalf of consumers and merchants worldwide. On April 25, 2018, the company announced first quarter results for the period ended March 31, 2018. Revenue rose 24% to $3.69 billion, or 22% on a foreign currency-neutral (FX-neutral) basis. PayPal processed $132 billion in TPV in the first quarter, representing growth of 32%, or 27% on an FX-neutral basis. Merchant Services TPV grew 30% on an FX-neutral basis, and represented 87% of overall TPV for the quarter versus approximately 85% a year ago. eBay Marketplaces volume grew 6% on an FX-neutral basis. Person-to-Person (P2P) volume grew 50% to nearly $30 billion, and represented approximately 23% of TPV in the first quarter. Venmo, the company’s social payments platform, processed more than $40 billion of TPV over the past twelve months. In the first quarter, Venmo processed more than $12 billion of TPV, growing 80% over the same period last year.

Global Payments Inc. (NYSE: GPN) is a leading worldwide provider of payment technology and software solutions delivering innovative services to its customers globally. The company’s technologies, solutions and employee expertise enable us to provide a broad range of products and services that allow customers to accept all payment types and operate their businesses more efficiently across a variety of distribution channels in many markets around the world. Earlier this month, the company announced results for the first quarter ended March 31, 2018. GAAP revenues were $795.0 million, compared to $919.8 million in the first quarter of 2017; diluted earnings per share were $0.57 compared to $0.32 in the prior year; and operating margin was 19.6% compared to 11.4% in the first quarter of 2017

Verifone System, Inc. (NYSE: PAY) is transforming every day transactions into new and engaging opportunities for merchants and consumers at the last inch of payments and commerce. Recently, the company announced an agreement with SpotOn Transact, LLC (SpotOn) to deploy Carbon integrated point-of-sale (iPOS) devices with Verifone Connect. SpotOn offers non-traditional marketing solutions to drive traffic to merchants and create loyal customers. Carbon with Connect includes the Verifone Marketplace where retailers and restaurants can download the SpotOn application. Once the app is downloaded, merchants have access to popular business tools such as financial and customer analytics, review monitoring and notifications, and a marketing platform that empowers merchants to connect with their customers via mobile, social media, and email. In addition, the app allows business owners to run rewards programs, loyalty and deal redemption, gift cards and more.

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Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up

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Exclusive: Portugal sees green hydrogen output by end-2022, $12 billion in investment lined up 1

By Sergio Goncalves

LISBON (Reuters) – Portugal will start producing green hydrogen by the end of 2022 and already has private investment worth around 10 billion euros ($12 billion) lined up for eight projects that are expected to move forward, Environment Minister Joao Matos Fernandes said.

He told Reuters in a telephone interview there were also several “pre-contracts for the purchase and assembly of electrolysers” to produce the zero-carbon fuel made by electrolysis out of water using renewable wind and solar energy.

Such hydrogen is more expensive to extract than the heavily polluting conventional method of using heat and chemical reactions to release hydrogen from coal or natural gas, known as brown and grey hydrogen respectively.

Hydrogen is now mostly used in the oil refining industry and to produce ammonia fertilisers, but sectors such as steelmaking, transportation and chemicals are beginning to develop large-scale hydrogen applications to gradually replace fossil fuels as countries try to reduce pollution.

The European Commission has mapped out a plan to scale up green hydrogen projects across polluting sectors to meet a net zero emissions goal by 2050 and become a leader in a market analysts expect to be worth $1.2 trillion by that date.

“By the end of 2022, there will certainly be green hydrogen production in Portugal,” Matos Fernandes said. “Green hydrogen will, over time, allow Portugal to completely change its paradigm and become an energy exporting country.”

He said seven groups had submitted applications under Europe’s IPCEI scheme for common-interest projects to make part of a planned export-oriented “hydrogen cluster” near the port of Sines, from where hydrogen could be shipped to Rotterdam. Total investment there is estimated at some 7 billion euros.

A consortium including Portugal’s main utility EDP, oil company Galp, world’s largest wind turbine maker Vestas, among others, is behind one of the projects.

In Estarreja in north Portugal, local firm Bondalti Chemicals aims to invest 2.4 billion euros in a hydrogen plant.

Altogether, these envisage an installed capacity of over 1,000 megawatts (MW).

Matos Fernandes said Portugal was also negotiating with Spain the construction of a pipeline for renewable gases, including hydrogen, from Sines to France, crossing Spain.

LITHIUM PLANS

Spain and Portugal also want to develop an ambitious cross-border lithium project taking advantage of the geographical proximity of their lithium deposits and aiming to cover the entire value chain from mining to refining, cell and battery manufacturing to battery recycling, he said.

Portugal is already a large producer of low-grade lithium mainly for the ceramics industry, but is preparing to make higher-grade metal used in electric car batteries.

A much-awaited licensing tender for lithium-bearing areas that has been delayed by the COVID-19 pandemic should take place by the year-end, Matos Fernandes said.

He promised the tender would address environmental concerns by local communities and there would be no lithium mining “at any cost”.

The minister also said Portugal would use its six-month presidency of the Council of the European Union to finalise a landmark law that would make the bloc’s climate targets irreversible and speed up emissions cuts this decade, expecting it to be approved in the first half of 2021.

(Reporting by Sergio Goncalves; Editing by Andrei Khalip and David Evans)

 

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Under fire in EU, AstraZeneca CEO says ‘hopefully’ will meet vaccine supply goals

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Under fire in EU, AstraZeneca CEO says 'hopefully' will meet vaccine supply goals 2

BRUSSELS (Reuters) – AstraZeneca boss Pascal Soriot said on Thursday he hoped to meet the European Union’s expectations on the number of COVID-19 vaccines the company can deliver to the bloc in the second quarter, after big cuts in the first three months of the year.

The Anglo-Swedish drugmaker has been under fire in the EU for its delayed supplies of shots to the 27-nation bloc, which ordered 300 million doses by the end of June.

“We are working 24/7 to improve delivery and hopefully catch up to the expectations for Q2,” Soriot told EU lawmakers in a public hearing.

Under its contract with the EU, the company has committed to delivering 180 million doses in the second quarter.

Soriot did not mention the 180 million target, but said he was confident the company will be able to increase production in the second quarter using factories outside the EU that had no production problems, including in the United States.

He confirmed the company was trying to get 40 million doses of the COVID-19 vaccine to the EU by the end of March, which is less than half the amount it promised for the quarter in its contract.

The EU, which has fallen far behind the United States and former member Britain in vaccinating its public, has repeatedly urged the firm to deliver more.

Lower-than-expected yields – the amount of vaccine that can be produced from base ingredients – at its factories hurt output in the first three months.

Asked about supplies to Britain, which relies on the same factories used by the EU, Soriot said the former EU member with a population of around 66 million was smaller, and noted that most doses produced in the EU were used to serve the EU which has a population of about 450 million.

Executives from rival drugmakers that have developed or are testing COVID-19 vaccines, including Moderna Inc and CureVac NV were also part of the panel.

But most questions were directed at Soriot amid anger that the company has failed to deliver promised vaccine quantities to the bloc on schedule.

Moderna Chief Executive Officer Stephane Bancel said the company has experienced fluctuations as the U.S. biotech group ramps up output of its COVID-19 vaccine.

He said usually a company would stockpile product ahead of a launch, but it is shipping every dose it makes, leaving it without any spare inventory.

His comments came a day after the company increased its output target for this year and 2022 as it invests in additional manufacturing capacity.

(Reporting by Josephine Mason in London and Francesco Guarascio in Brussels; Editing by Susan Fenton, Bill Berkrot and Keith Weir)

 

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Shift to sun, ski and suburbs gives Airbnb advantage over hotels

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Shift to sun, ski and suburbs gives Airbnb advantage over hotels 3

By Ankit Ajmera

(Reuters) – Airbnb’s quarterly results are likely to show the pandemic may have helped the home rental company lure leisure travelers away from big hotels during the global travel collapse of 2020.

Weary of being locked up in their homes for months, travelers hit the road and booked homes and cottages on Airbnb, while avoiding flights and downtown hotels, analysts said.

Airbnb accounted for 18% of the total U.S. lodging revenue in 2020, up from 11.5% in 2019, data from hotel analytics provider STR and vacation rental data company AirDNA showed.

It outperformed the hotel industry and online travel agents such as Expedia and Booking.com thanks to its greater offer of ‘sun, ski, and suburban’ rental homes, Cowen & Co analysts said.

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 4

(Graphic: Airbnb grabs bigger share of U.S. lodging market in pandemic: https://graphics.reuters.com/AIRBNB-RESULTS/yxmpjxqdopr/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3pPbQwH

THE CONTEXT

In 2019, about 90% of Airbnb’s bookings came from leisure travels compared with about 20%-30% for large hotels chains, including Marriott and Hilton, that rely on business travel to grow their profits.

“Unfortunately, the hotel operators do not have as much supply in locations where people are willing to travel,” said Jamie Lane, vice president of research at AirDNA.

Lane said with mass vaccinations later in the year, the share of alternative accommodations including Airbnb will drop before continuing to grow at 2%-3% per year once normal travel patterns return.

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 5

(Graphic: Airbnb U.S. sales against top hotels: https://graphics.reuters.com/AIRBNB-RESULTS/gjnpwzkdbvw/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3dPKvsd

THE FUNDAMENTALS

* The San Francisco-based company is expected to report gross bookings of $23.10 billion in 2020, down from about $38 billion a year earlier, according to the mean estimate of 12 analysts according to Refinitiv; gross bookings are seen rising by 50% in 2021.

* Analysts’ mean estimate for Airbnb’s full-year net loss is $3.52 billion, bigger than a loss of $674.3 million a year earlier. Full-year revenue is expected to drop 32% to $3.27 billion.

WALL STREET SENTIMENT

* Of 34 brokerages, 20 rate Airbnb’s stock “hold”, 12 “buy” or higher and two “sell” or lower

* Wall Street’s median 12-month price target for Airbnb is $156​, about 22% below its last closing price of $200.20.

* The company’s stock has nearly tripled since listing in December

Shift to sun, ski and suburbs gives Airbnb advantage over hotels 6

(Graphic: Airbnb’s stock has nearly tripled since debut: https://graphics.reuters.com/AIRBNB-RESULTS/jznpnoqrlvl/chart.png)

For an interactive graphic, click here: https://tmsnrt.rs/3dG2lOd

(Reporting by Ankit Ajmera in Bengaluru; Editing by Sweta Singh and Saumyadeb Chakrabarty)

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