The growth in mobile money last year was remarkable: 136 million accounts were added in 2020 alone, a 13 percent growth rate, and of the 1.2 billion accounts total, over 300 million are monthly active users, up 17 percent. To put this in perspective, it took the industry a decade to reach 100 million active users; in under 5 years, this figure tripled. Transactions were valued at $767 billion last year — up 22 percent — with over $2 billion being processed every day. December 2020 alone saw more than $70 billion in transactions. (Compare these figures to the IMF’s provisional estimates of 2020 GDP growth, showing a drop of 4.4 percent worldwide and a drop of 3.3 percent in emerging economies.)
What’s particularly important to note is that mobile money transactions have firmly moved well beyond their origins in peer-to-peer (P2P) transfers and bill payments. Services such as salary disbursements, social transfer payments, savings, credit, insurance, and international remittances are now widely available across the mobile money ecosystem. (In 2020, over $1 billion per month in international remittances was processed, an increase of 65 percent from the previous year.) Read More Here
0 Comments
Ricardo Molina stocked up on three weeks’ worth of fajita fillings before he reopened Molina’s Cantina last weekend in Houston. It’s an insurance policy against market fluctuations due to the novel coronavirus pandemic.
“If the food supply is going to get tight, those prices will start to creep up, and then we won’t be able to offer the same menu,” explains Molina. His grandfather opened Molina’s Cantina in 1941, and it’s served generations of Houstonians. Molina is one of countless restaurateurs navigating a rapidly evolving landscape. Last week, Texas governor Greg Abbott rescinded shelter-in-place restrictions across the state. As of May 1, Texas restaurants can serve guests seated at least six feet from one another in dining rooms filled to 25% capacity (50% in certain rural counties). Mayor Kirk Caldwell signed a revised version of the ‘Restore Honolulu’ emergency order on Thursday afternoon allowing restaurants to resume dine-in service — provided that they comply with a number of new requirements — starting June 5.
It applies to dining establishments only, and bars and clubs must remain closed. The order contains a list of rules on operations, social distancing, cleaning, staffing, and other practices. Here are some of the guidelines:
“We’ve got your back(side).” That’s the message Ike’s Love & Sandwiches is sharing as it offers customers a free roll of toilet paper with any sandwich order.
This tongue-in-cheek promotion is just one example of how restaurants across the country—many of which have been restricted to delivery and pickup only—are hoping to provide their customers with a laugh, as well as some extra supplies, amid the coronavirus pandemic. Ike’s promotion began Friday and is valid while supplies last on pickup orders at the sandwich shop’s more than 75 locations throughout California, Nevada, Arizona, Texas and Hawaii. While the free roll is not available with delivery, Ike’s is offering free delivery on orders made through its app. Large and small businesses, which borrow heavily to run their operations, will find it harder to tap credit as the outbreak curtails economic activity.
Jeffrey Albrecht, who owns three Holiday Inn hotels in southern Ohio, watched as $200,000 disappeared from his books in just three days as people began canceling bookings. The banker handling his mortgages on the properties called. He wanted to know: How much more money could Mr. Albrecht lose before he would miss a loan payment? Mr. Albrecht assured him he could last at least four months. Others might be less fortunate. “If this goes on for very long, there will be much bloodletting in America’s small business community,” Mr. Albrecht said. Companies of all sizes, from local businesses to blue-chip giants, have taken a big hit from the coronavirus pandemic which will gut companies’ profits and affect not only their ability to keep operations afloat, but also their ability to borrow money Enhancing the B2B purchasing experience isn’t just crucial for keeping current customers satisfied, it’s an essential strategy for gaining new ones.
B2B buyers are now accustomed to the simplicity and convenience of B2C purchases and expectations follow suit: More than 80% of B2B buyers agree that personal buying experiences affect expectations for business purchases. With buyers expecting more from B2B sellers than ever before, sellers must focus on updating outdated business processes — with enhanced payment options topping the to-do list. In fact, 90% of B2B buyers research sellers’ payment options before making a purchase, and 74% would switch vendors if their preferred company failed to keep up with purchasing expectations. Macy’s Inc. slumped the most in three months after confirming that some customers were exposed to a data hack while shopping on its website last month.
“We are aware of a highly sophisticated and targeted data security incident related to macys.com that affected a small number of customers during a one-week period in October,” the company said in an emailed statement. Read more Starbucks is the big dog of the morning brew. Since getting off the ground in 1971, the chain is largely credited with the popularisation of artisanal coffee. Today, the humble bean roasters command over 30,000 stores worldwide and rake in US$4.5 billion in net earnings per year. That’s a lot of Pumpkin Spice Lattés with almond milk.
Despite its existence in what is now a mature market, Starbucks has, on average, added two stores a day since 2010 and is still able to grow its earnings, reporting a 10% increase in net revenues from 2017 to 2018. With a financial report card like this, you can bet the company has a few secrets on securing every last dollar. Global Payments, Inc. (GPN - Free Report) a provider of payment technology and software solutions to customers globally, has a very active inorganic growth strategy underpinned by a number of acquisitions made over the years.
|
AuthorWrite something about yourself. No need to be fancy, just an overview. Archives
April 2022
Categories |