Payment industry is eyeing Asia as attractive for V.C. investors amid COVID-19
By MYBRANDBOOK
We are living in a time when information can become outdated pretty quickly, and that has become even more true because of COVID-19, where the world is under the arrest of novel coronavirus that is spread across countries. Partial and complete lockdowns have become a way of life in many countries, including India. During this difficult time, technology only strengthens the business to become something more than hardware or software. Since, digital technology becomes more pervasive and companies move further in the journey of digital transformation, digital strategy and business strategy will be the same thing.
Secondly, we have seen a huge shift from the consumers from across the globe embracing digital payments more than ever during the COVID-19 pandemic. Against this backdrop, the payment industry in the Asia-Pacific region remains attractive for venture financing.
A report ‘Smart Money Investing in the Financial Services Industry Q1 2020’, reveals that although there was decline in Venture Financing deals from 389 in Q4 2019 to 361 in Q1 2020, payment deals remained unchanged at 89 deals. This was due to increase in deals activities in the APAC region, with deal count increasing from 23 in Q4 2019 to 29 in Q1 2020. At the same time we can’t deny the fact that, that the COVID-19 pandemic has brought with it a significant increase in fraudulent activity.
Remote working is no longer a benefit, luxury or convenience. It’s also more than a current make-do for organizations looking to conduct business as usual. We argue that senior leaders will have to leverage this inflection point to drive sustainable competitive advantage for their organizations in the new normal.
With rapid digitalization, electronic payments tools are gaining prominence. This trend is more prevalent in emerging markets such as India and China, where a large number of consumers leapfrogged card payments by switching directly from cash to alternative payment methods. As a result, the payments industry in APAC will continue to attract investments over the coming years.
At the same time, the target of cyber crooks are the personal and corporate banking customers and there has been a significant rise in the number of ‘phishing’ emails connected to COVID-19 being sent to customers – emails that look like they are from the bank and that may be about financial support available in the wake of the pandemic, but which are actually a lure asking customers to provide or validate their account or identity information. Other emails may contain malware that downloads onto a customer’s system once a link is clicked.
Last but not the least, there has also been an increase in call center frauds. Fraudsters may engage in what we call social engineering – posting innocent looking ‘fun’ questions on social media platforms such as ‘what was the name of your first pet?’ in order to gather information from individuals that they can use to impersonate them with their bank or to make a false insurance claim.
BREAKING NEWS
TECHNO TRENDS
Nazara and ONDC set to transform in-game monetization with ‘
Nazara Technologies has teamed up with the Open Network for Digital Comme...
Jio Platforms and NICSI to offer cloud services to government
In a collaborative initiative, the National Informatics Centre Services In...
BSNL awards ₹5,000 Cr Project to RVNL-Led Consortium
A syndicate led by Rail Vikas Nigam Limited (abbreviated as RVNL), along wi...
Pinterest tracks users without consent, alleges complaint
A recent complaint alleges that Pinterest, the popular image-sharing platf...
E-Magazine
TECHNOTAINMENT
Netflix adds 'Moments' feature for saving, sharing scenes from
Netflix has introduced a new “Moments” feature on its mobile app, whic
Jacqueline Fernandez come together with YouTuber Mr. Beast for
Jacqueline Fernandez has partnered with American YouTuber Mr. Beast to b
MOVERS & SHAKERS
Visa elevates Rishi Chhabra as new Country Manager for India
Rishi holds a Master’s in Industrial Engineering from The Ohio State Univ
Genesys welcomes Albert Nel as Senior VP and Regional Sales Le
Genesys continues to deepen its investment in the APAC region. Earlier this
OPEN YOUR EYES
INTERVIEWS
In India, 88% of Indian business leaders are planning to inves
As we move through 2024, it has become increasingly clear that AI is not ju
AMD Pensando driving innovation in the DPU architecture space
AMD Pensando stands out in the DPU (Data Processing Unit) market with its u
HOT PICK
SonicWall Launches TZ80: A Powerful Solution for Remote Office
SonicWall announced today the launch of the TZ80, a groundbreaking securit
Gigabyte X3D Turbo: A Gaming Revolution
GIGABYTE X3D Turbo Mode is a cutting-edge feature that unifies cores distr
MAKE IN INDIA BRANDS
TAC SECURITY SOLUTIONS
ACER INDIA PVT. LTD.
QUICK HEAL TECHNOLOGIES PVT. LTD.
CENTRE FOR DEVELOPMENT OF TELEMATICS (C-DOT)
EMINENT CIO'S OF INDIA
ICONS OF INDIA
ICONS OF INDIA : SANDIP PATEL
Sandip Patel is the Managing Director for IBM India & South Asia regio...
Icons Of India : NANDAN NILEKANI
Nandan Nilekani is the Co-Founder and Chairman of Infosys Technologies...
ICONS OF INDIA : SUNIL VACHANI
Sunil Vachani is the Chairman of Dixon Technologies (India) Ltd. Under...
PARTNER SPEAKERS
PSU
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
PFC - Power Finance Corporation Ltd
PFC is a leading financial institution in India specializing in power ...
NIC - National Informatics Centre
NIC serves as the primary IT solutions provider for the government of ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...
Indian Tech Talent Excelling The Tech World - Thomas Kurian, CEO- Google Cloud
Thomas Kurian, the CEO of Google Cloud, has been instrumental in expan...
Indian Tech Talent Excelling The Tech World - Vinod Dham, Founder & Executive Managing Partner, IndoUS Venture Partners
Vinod Dham, known as the “Father of the Pentium Chip,” has left an...
STARNITE AWARDS 2024
ITFORUM 2024
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
