Spire speaks on rise in mobile wallets across Asia

As use of mobile wallets grows across Asia, digitalized financial services are transforming consumer behavior. In this context, Informa Business (IBC) organized the 4th Annual Mobile Wallet Conference to discuss key industry trends, opportunities and challenges in Jakarta, Indonesia.

Jeffrey Bahar, Deputy Chief Executive Officer of the Spire Research and Consulting group, was honored to be a guest speaker at this event. In his presentation, Bahar highlighted key facts about the mobile wallet ecosystem in Asia with focus on consumer trends, growth drivers and acceptance of digital currency.

Bahar mentioned the rise mobile wallet payments is due to faster transactions (71%), ease of use (55%) and the need to have cash on hand (47%). There are more opportunities for organizations, regulators and startups due to the convergence of multi-channel integration, integrated IT infrastructure, digital currencies and Big data analytics, to name a few trends.

The Philippines became one of the first countries to launch mobile wallet services with a cost-effective digital remittance program. It channeled a total of USD25.48 billion in remittance value in 2015.

On the other hand, the potential of Peer-to-Peer (P2P) digital currency is vast. Blockchain – another type of cryptocurrency – is gaining popularity. J.P. Morgan Chase & Co. and Citibank Inc. successfully tested the record-keeping technology behind Blockchain on credit-default swaps in April 2016.

However, there is still some degree of skepticism about the legality of P2P digital currencies in specific countries. Japan recognizes Bitcoin and digital currencies whereas Hong Kong does not have laws governing this space at present and a de facto ban is in place in Russia.

Bahar’s presentation deck on “Mobile Wallet Trends” can be found here.

https://www.spireresearch.com/newsroom/events/spire-speaks-on-rise-in-mobile-wallets-across-asia/

Comments

Egyptian-Israeli gas deal to boost bilateral trade

A USD15 billion deal has been announced between Israel and Egypt to export natural gas. Israel’s Delek Group has signed an agreement to supply 64 billion cubic meters of gas in a span of ten years to Egypt’s Dolphinus Holdings. The deal is considered a milestone ever since the 1979 peace accord, bringing Egypt a step closer to becoming a regional energy hub. However, the transportation of natural gas from Israel to Egypt is a challenge given the security risks. Will the Egypt-Israel gas export deal usher in a relationship of bonhomie and economic co-operation? Read more here: https://www.spireresearch.com/newsroom/spirethoughts/egyptian-israeli-gas-deal-to-boost-bilateral-trade/

Spire speaks on Omni-channel strategies for Indonesian retailers

Spire was honored to participate in the Samsung Top Achiever Retailer (STAR) event held on 22 August, in Jakarta. Albertus Edy Rianto, Senior Manager, Spire Indonesia, shared his insights on the significance of Omni – channel strategies for mobile phone retailers. Albertus discussed offline-to-online strategy, where multiple channels merge to help target customers across various channel platforms. He elaborated that more than 80% of Indonesian mobile phone retail sales in 2020 will still occur at physical outlets. However, 71% of Indonesians browse online for a while prior to shopping at a physical store. Factors that influence customers include better delivery conditions, storefront apps for better sales and even packaging. As customers become more tech-savvy and demanding, more consideration will be given to innovative payment processes and browsing more than one channel to make a purchase. As far as online purchases are concerned, 25% of customers still feel ...

Asia-Pacific nations poised to sign the world’s largest multi-lateral trade agreement, RCEP, in 2020

After six years of negotiations, more than a dozen countries in the Asia-Pacific are poised to sign the world’s largest trade agreement, known as the Regional Comprehensive Partnership (RCEP), in 2020. This agreement would boost commerce among participating countries by lowering tariffs as well as standardizing customs rules and procedures. The RCEP will widen market access, especially for those countries that do not have existing many bilateral trade agreements in place. Will India pay a price for its decision to stay out of the RCEP? Read more: https://www.spireresearch.com/newsroom/spirethoughts/asia-pacific-nations-poised-to-sign-the-worlds-largest-multi-lateral-trade-agreement-rcep-in-2020/

Prison ankle bracelets are all the rage in Brazil

With about 622,000 inmates, Brazil is home to Latin America’s largest and the world’s fourth largest prison population. Around 32,000 criminals sport one of the many types of ankle bracelets being used. Many others are on a waiting list. The authorities estimate that they can save anywhere from USD12,000 to USD 72,000 a year for every tagged inmate removed from prison. Will ankle bracelets allow more prison inmates to serve their sentences from home? https://www.spireresearch.com/newsroom/spirethoughts/prison-ankle-bracelets-are-all-the-rage-in-brazil/

Will emerging countries dominate the pool of global megacities in future?

In 2017, 26 megacities were in emerging economies, compared to 7 in developed economies. There are likely to be 48 megacities with populations above 10 million by 2035. By 2020, Greater Jakarta is predicted to be home to 36 million people, making it the biggest megacity of all. War torn Baghdad, with a population of 10 million, may soon join the ranks of the world’s megacities. African cities Dar es Salam and Luanda are predicted to become megacities by 2030. With larger populations to attract investment and nurture productivity growth through network effects, megacities in developing countries will likely see rising incomes. Will emerging economies drive all urban growth in future? Read more : https://www.spireresearch.com/newsroom/spirethoughts/will-emerging-countries-dominate-the-pool-of-global-megacities-in-future/

The Knowledge to Decide

Search This Blog