What to expect from the e-payment sector in this new digital age

By: Cesilia Faustina

Throughout the years, the global payment sector has experienced somewhat of stability until the start of 2020 when COVID-19 struct. The changes brought by the pandemic had huge impacts on the payment industry. A McKinsey report saw the global payment industry receding by 22 percent within the first six months in 2020, in comparison with 2019. It also predicted a loss of $140 billion in 2020. The year 2020 did have a big impact on the payment sector, many businesses have slowed down or even shut down completely. This has caused a shift and greater dependency for digital means. E-payment became a huge contributor to the global payment industry and coming into 2021, people are still depending on it. E-payment is producing more investors and innovators to push the sector forward.

Internet solutions are fuelling the COVID holiday season

By: Cesilia Faustina

The holidays are just around the corner and everybody is getting busy, whether to finish last-minute tasks before the holidays or maybe to buy all the essential Christmas presents. Point is, there always seems to be a lot to do during the days leading up to the holidays. Unfortunately, with COVID all around, it’s getting tougher to finish all these tasks, which is why many of us are looking for online solutions.

Thanks to COVID-19, PR Newswire reported an expected growth of $968.7 billion in global wireless internet service market in 2020, compared to $569.2 billion in 2019. They also expected this number would eventually stabilize at $717.9 billion in 2023. Obviously, this is nothing to shrug off. If we look at the IFC’s report on COVID’s impact on the telecom sector, we can see that the global telecom market is improving and generally not restricted by the impacts of COVID.

e-Banking trends are on the rise worldwide

By: Omar Abdulhafiz

In the past few decades, our perception of the things that are most essential to our daily lives has been transformed more than ever before. With the gradual and accelerating evolution of telecommunications technology, these gadgets have slowly become elementary parts of our lives as utilities such as water and electricity. Not having a phone at home, for example, may cause us to feel as if we are completely isolated from the outside world. And it does not stop here.

Fast forward to the second decade of the 21st century, even the ordinary phones are slowly becoming more like pieces of antiques, as these little powerful devices known as smartphones replace them. It never escapes us to liken their fate to that of typewriters as they were replaced with personal computers toward the last quarter of the 20th century.

Why you should use a digital wallet

By: Ola Azzouqa

By now, you have probably heard about new payment methods such as e-payments and digital wallets. Digital wallets allow users to make quick payments using their mobile devices, where they can store their payment information in one convenient place, that is their digital wallet.

This payment method has been gaining popularity in the past few years. It represents a shift in payment methods for goods and services away from traditional cash and cards towards a digitalised payment method.

So, what is a digital wallet? 

Investopedia defines a digital wallet as a software-based system that securely stores users' payment information and passwords for numerous payment methods and websites. By using a digital wallet, users can complete purchases easily and quickly with near-field communications technology.