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Mobile Biometric Payments to Triple in 2017- Report

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The number of mobile payments authenticated by biometrics will rise to nearly two billion this year, up from just over 600 million in 2016.

This is according to a new report from Juniper Research, titled “Mobile Payment Security: Biometric Authentication & Tokenisation 2017-2021”.

The research found that while Apple Pay provided the catalyst for initial growth, other leading mobile wallets, including Android Pay and Samsung Pay, are increasingly offering biometric solutions for payment authentication.

“The size of the mobile payments opportunity has been boosted by the greater availability of fingerprint sensors. Around 60% of smartphone models are expected to ship with such sensors this year, with many Chinese vendors incorporating them into mid-range models,” says the report.

However, Juniper argues the key challenge for service providers would be striking the right balance between end-user convenience and solution security.

Research author Dr Windsor Holden says: “Typically, the more secure the solution, the more time-consuming the authentication process. It is essential to offer a range of verification options allowing clients to determine what level of security is required for a given authentication.”

Despite elevated uncertainty on how the biometric payment market will evolve in the next few years, expectations are positive. A report by research firm BBVA Research estimates that by 2020, biometrics will be used to authenticate almost 65% of all m-commerce transactions.

“In addition, global mobile biometric revenues are expected to increase to $34.6 billion from $1.6 billion in 2014, with 35% being authenticated via mobile devices and 65% via apps downloaded by consumers. Other estimates indicate the global biometrics technology market will reach $22 billion by 2020, up from $11.2 billion in 2015 and $4.2 billion in 2010,” says BBVA Research.

Last month, MasterCard introduced payment cards with biometric capabilities, which it first trialled with supermarket retailer Pick n Pay and Absa employees. The biometric payment cards combine chip technology with fingerprints to verify the cardholder’s identity for in-store purchases.

“Consumers are increasingly experiencing the convenience and security of biometrics,” says Ajay Bhalla, president, enterprise risk and security at MasterCard. “Whether unlocking a smartphone or shopping online, the fingerprint is helping to deliver additional convenience and security. It’s not something that can be taken or replicated and will help our cardholders get on with their lives knowing their payments are protected,” adds Bhalla.

Towards the end of the year, MasterCard is expected to unveil the Identity Check Mobile capability, also known as the “selfie pay”, according to Juniper Research. The payment application allows users to scan their fingerprints and/or take selfies to validate their identities and thereby make mobile payments.

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E-Business

Andela Launches The Power of “X” Campaign

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Andela the company building distributed engineering teams with Africa’s top software engineers, is recruiting mid and senior level developers in 2019, as part of a new Power of ‘X’ campaign, as it looks to scale its operations and meet growing demand. This comes as more companies seek to enhance their technology teams via distributed workforces.

Since its launch in 2014, Andela has received over 140,000+ applications to it’s Technical Leadership Program and has trained 1,000+ software engineers, who have worked with global companies including Safaricom, Invision, Viacom, and Skillshare. Andela now accepts applications from experienced software engineers who are proficient in Ruby, Javascript

(React, Node, ES6+, Angular), Python (Django or Flask) and Native Mobile Technologies for iOS or Android. The move to recruit more senior technologists is an expansion of the company’s business model.

Andela engineers work on global challenges, within global engineering teams, yet play an important role in their local ecosystems. The 1,000+ Andela Software Engineers are central to Africa’s growing tech community, and are leaders or members of Forloop, Teencode, Startup Grind, Progate, Facebook Developer Circles, to mention a few. Andela is a gateway for experienced and talented engineers to become part of Africa’s most expansive network of technologists.

“The most effective way to become the best in your field is to work on the most complex problems and work alongside the best people. Andela’s value proposition is that our engineers work on global problems, within global teams, and are connected to the best engineering community in Africa. By this, we are empowering people to grow exponentially and accelerate their careers” says Omowale David-Ashiru, Country Director, Andela Nigeria.

She continues, “we are excited to be part of the first generation of limitless software engineers in Africa who will play a significant role in transforming the future of technology, which we hope will be central to Africa’s economic development.

“At Andela, we expect our Software Engineers to gain the skills, experiences and networks that will enable them to become innovators and tech leaders in Africa and we are excited to now open up our recruitment funnel to diversify and enhance our talent pool”.

The Power of “X” campaign was announced officially in Lagos this week. Titled, “An inclusive future for the next generation”, and attended by key industry stakeholders, leading technologists and media, the event saw the likes of Bankole Oluwafemi, Editor in Chief at TechCabal and Prosper Otemuyiwa, Co-founder of Forloop share insights about the future of

technology in Africa during their fireside chat session. Andela’s Director of Developer Programs, Jolomi Otumara and Director of Partner Engineering, Olawumi Onawumi who also featured in the chat session, talked about Andela’s plans for the next generation of tech talent in Africa.

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CoinCola Bitcoin Platform now in Nigeria

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Blockchain Technology is rapidly growing in different continents and many more people beginning to see the importance and relevance of cryptocurrency and blockchain technology in their different fields of life.

Nations and companies are gradually adopting cryptocurrency in exchange for goods and services instead of fiat. However, the African continent seems to be lagging behind in the adoption of this upcoming technology resulting from the lack of political will to accept the risk of innovation (in Blockchain technology and cryptocurrency). This can further be perceived in the reluctance to adopt the use of cryptocurrency in day-to-day transactions.

Though based in Hong Kong, Coincola aims to provide trustworthy trading and exchange services to all its users all around the world with Africa being a key place of interest.

Coincola believes that Blockchain technology will be essential to providing secure banking and payment services in the future and also that cryptocurrency will greatly improve the convenience of daily transactions and help to create a world that is financially borderless. Hence, our mission is to “connect everyone to this new digital asset economy.

Coincola is an OTC cryptocurrency marketplace and exchange designed to offer the best cryptocurrency trading experience for users and also offer fast and secure trading services at competitive fees and exchange rates.

In the OTC Marketplace, the trading platform allows people around the world to use their local FIAT currency to buy and sell Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Dash (DASH) ,Tether (USDT) and Ripple (XRP). This is done on a person-to-person (P2P) basis. Users can post adverts for free and are only charged a trading fee of 0.7% of the traded amount once the transaction has been completed.

In the exchange market, CoinCola offers Bitcoin (BTC) and Tether (USDT) as base currencies and supports crypto-to-crypto trading pairs with Ethereum (ETH), Bitcoin Cash (BCH) and Litecoin (LTC).  A trading fee of 0.2% is charged for an exchanged amount. However, there is a fixed withdrawal fee.

The new feature which allows users to trade bitcoin with gift card was added recently to fulfill a highly desired request by African users. Users can now buy bitcoin in Nigeria, Guana and everywhere else in Africa. They can buy bitcoin with gift cards, whether it is iTunes gift cards, Amazon gift cards, Google gift cards, Steam gift cards and more.

At Coincola, security is of utmost priority hence there are multiple layers of security including bank-level encryption, cold storage and SSL, ensuring that customers can trade with 100% confidence.

CoinCola provides an intuitive and easy verification process by building trust and transparency in the Blockchain ecosystem and ensuring compliance using KYC/AML regulations.

A mobile app is available to enable users to transact and trade comfortably while on the move.

Compared to Paxful trading fee which is 5% for every traded amount, CoinCola charges a fee of 0.7%, now, a lot is saved. Trading of your cryptocurrencies can be done via our mobile app or web version however Paxful only has its web version.

CoinCola supports BTC, ETH, LTC, BCH, XRP, USDT, and Dash but Paxful supports only BTC.

Security and users’ satisfaction are our priorities, therefore CoinCola provides a 24/7 full support and inquiry on their platform as well as on their Telegram channel.

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MainOne Pledges N25billion to Digitization of Lagos

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MainOne has launched its “Digital Lagos: Broadband for All” campaign initiative to enable the digital transformation of Lagos state through deployment of ubiquitous broadband infrastructure across the state.

MainOne’s ambition for Lagos is inspired by the vision of Lagos Governor-elect Babajide Sanwo-Olu, who noted presciently that “Technology will improve the rule of law, education, ease of doing business and government processes of Lagos”.

At the campaign launch organized in Lagos to announce its plans earlier in the week, Funke Opeke, Chief Executive Officer, MainOne, said, the company is keen to collaborate with the Lagos State Government and all other relevant stakeholders to build Digital Lagos and help citizens from all walks of life realize the benefits of broad, sustainable economic growth, modernized education, health, and other services delivery, and improved quality of life.

“MainOne is pleased to have the opportunity to present its plan for Digital Lagos, a proven path to ubiquitous broadband connectivity. This plan will involve the investment by MainOne of over N25 billion over the next 2-3 years to develop critical fiber optic infrastructure to enable broadband services across Lagos state,” she said.

A presentation was made by Mr. Judah Levine, CEO HIP Consult, a Washington DC based, independent, management consulting firm with specialization in ICT in emerging markets. HIP Consult worked with MainOne in developing a concept paper and implementation plan for Digital Lagos. Mr. Levine touched on the research done for Digital Lagos, its implementation plans and subsequent impact in Lagos State.

Opeke said MainOne has pioneered investments in critical internet-enabling infrastructure across West Africa, Nigeria, and Lagos. To date, the company has invested over N120 billion funded by leading African banks and has proven its capabilities in expanding and densifying localized fiber networks in neighboring Ogun and Edo States by deploying almost 1,000kms of fiber in partnership with Facebook to expand broadband access and connect government institutions and other areas of interest.

Opeke said, as the licenced InfraCo for Lagos zone, the resulting network to be built by MainOne would provide essential connectivity to critical State institutions, cover over 300 government agencies, up to 10,000 State CCTV locations, Telecom operators and ISPs, public Wi-Fi hotspots, Smart City components / IOT devices, in addition to Enterprises.

In Lagos, MainOne’s existing 700-kilometer network already covers major population centers and Yaba, where it provides connectivity for the majority of the Yabacon ecosystem and has connected startups like Andela, ccHub, Paga, and Flutterwave and others that have raised up to USD500million Foreign Direct Investment (FDI) in Nigeria.

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