BASINGSTOKE, England, Feb 28 (Bernama-BUSINESS WIRE) -- A new Juniper Research study found that global payment card shipment revenue for technology companies will reach $11.7 billion in 2026, from $9.7 billion in 2022. This 20% increase reflects new innovations emerging in the payment cards space while the contactless cards roll-out is reaching its latter stages.
The new research, Payment Card Technologies: Segment Analysis, Vendor Strategies & Market Forecasts 2022-2026, predicted the introduction of biometric cards, metal cards and dynamic CVV (Card Verification Value) cards as being majorly disruptive trends over the next 5 years. These new card types all have the same aim – to make cards fit for the new, digital-first payments ecosystem. The research found that these new card types will help evolve the payment experience for the digital age, increasing security and useability; making card usage more appealing in the face of increasing mobile-first payment innovations.
For more insights, download the free whitepaper: Premium, Tap & Scan ~ The Future of Payment Cards.
Metal Cards Driving Revenue
The research found that metal cards will account for over $4.4 billion in hardware revenue for technology providers globally in 2026, from $1.2 billion in 2022. The research identified the premium appearance of metal cards as highly appealing as a differentiator; driving their future growth.
Research co-author Damla Sat explained: “Banks and card issuers need to differentiate themselves in order to retain relevance in the digital payments era – adding value to their services by using new card types can add significant value and reduce churn with existing relationships.”
Biometric Cards Have Strong Potential
The research also found that use of biometric cards, which feature embedded fingerprint sensors, will grow significantly, with shipments expected to increase by almost 850% over the next 5 years to 173 million in 2026 globally. Biometric cards will enable card payments to better compete with mobile payments, including Apple Pay and Google Pay, eventually allowing payment cards to have no transaction limits. The report recognised this development as critical in removing the barriers to growth for contactless payments.
Payment Card Technologies report: https://www.juniperresearch.com/researchstore/fintech-payments/payment-card-technologies-market-research-report
Whitepaper download: https://www.juniperresearch.com/whitepapers/premium-tap-scan-the-future-of-payment-cards
Juniper Research provides research and analytical services to the global hi-tech communications sector, providing consultancy, analyst reports and industry commentary.
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Contact
For further details contact Sam Smith, Press Relations
T: +44(0)1256 830002
E: sam.smith@juniperresearch.com
Source : Juniper Research
Monday 28 February 2022
JUNIPER RESEARCH: PAYMENT CARD TECHNOLOGY REVENUE TO EXCEED $11.7 BILLION GLOBALLY IN 2026, WITH METAL & BIOMETRIC CARDS DRIVING CHANGE
Saturday 26 February 2022
TDCX Inc announces fourth quarter, full year 2021 results on March 9
KUALA LUMPUR, Feb 24 -- TDCX Inc (TDCX or the Company), a high-growth digital customer experience solutions provider for innovative technology and other blue-chip companies, plans to announce its fourth quarter and full year 2021 unaudited financial results on March 9, 2022, U.S. Eastern Time, before the U.S. market opens.
On that day, the TDCX senior management will host a conference call to discuss the unaudited financial results, according to a statement.
A live webcast of this conference call will be available on the TDCX website.
TDCX provides transformative digital CX solutions, enabling world-leading and disruptive brands to acquire new customers, to build customer loyalty and protect their online communities.
TDCX employs more than 14,000 employees across 26 campuses globally, specifically Singapore, where it is headquartered, Malaysia, Thailand, the Philippines, Mainland China, Hong Kong, South Korea, Japan, India, Romania, Spain and Colombia.
More details at www.tdcx.com.
-- BERNAMA
Friday 25 February 2022
CRADLEPOINT CELLULAR INTELLIGENCE SIMPLIFIES MANAGEMENT AND CONTROL OF LTE AND 5G WIRELESS WAN DEPLOYMENTS FOR IT TEAMS
SINGAPORE, Feb 25 (Bernama-GLOBE NEWSWIRE) -- Mobile World Congress -- Cradlepoint, the global leader in cloud-delivered LTE and 5G wireless network edge solutions, today announced the launch of Cellular Intelligence, a collection of software-based features that uniquely sense, orchestrate, and optimise connections, data plans, and traffic of cellular networking deployments. Now, Cellular Intelligence includes SIM Management based on the integration of Ericsson’s IoT Accelerator with Cradlepoint’s NetCloud and other databases. Customers can now activate and manage cellular routers, SIMs and data plans from a single pane of glass. This new extension of Cellular Intelligence highlights Cradlepoint’s commitment to providing enterprises with the freedom to simply connect people, places, and things from anywhere.
IT managers will need a new set of tools to meet the unique demands of cellular networking - especially as the Wireless WAN scales. As 5G adoption rates continue to rise, IDC predicts that by 2024, “wireless first” will be mainstream for wide area connectivity, accelerating 65% of organisations to “untether” their operations*. As this demand for cellular adoption increases, Cellular Intelligence gives IT teams the necessary tools to manage the unique demands of cellular through sophisticated management and control capabilities.
“5G is significantly increasing the use of Wireless WAN by global enterprises, and Cradlepoint’s Cellular Intelligence will accelerate further adoption,” said Joop Gerlach, Chief Operating Officer, Blue Wireless. “With increased visibility and control across the entire wireless WAN, we can better manage the full life-cycle from initial deployment to in-life support through a single-pane-of-glass, resulting in consistent uptime and improved performance for our global customers.”
Leveraging Cradlepoint’s decade-long history in enabling enterprise-class 4G/LTE and 5G connectivity, Cellular Intelligence has been built into every aspect of the Cradlepoint portfolio to equip IT teams with the management, control, and security capabilities they need, including:
- Live stats, health dashboards, and cellular data breakout (by carrier, connection type, by network type, by 5G mmWave vs. sub-6, and more) that increase visibility and control of cellular services.
- Integrated SIM Management provides peace of mind with centralised and precise consumption visibility and control of data plans across the Wireless WAN.
- Cellular signal mapping allows organisations, like public safety agencies, to map and display cellular reception across driven routes.
- Software-driven modem functionality optimises connectivity across multiple modems, and multiple carriers, for predictable and persistent cellular connectivity.
- Unique cellular-optimised SD-WAN capabilities enable traffic steering policies based on applications and real-time WAN conditions, ensuring quality of experience.
- Application-aware visibility, reporting, and controls gives administrators visibility to the performance of their applications, so they can easily take corrective action if needed.
- Application-based failover control allows IT organisations to control exactly which applications and functions utilise a cellular failover connection. For example, IT can suspend guest Wi-Fi access when on cellular failover.
- Cellular-efficient secure management protocol, with in-depth diagnostic, alerting and log data, improves troubleshooting without impacting customer data plans.
One of the newest Cellular Intelligence features – SIM Management – is based on an integration with Ericsson’s IoT Accelerator platform. Communication Service Providers (CSPs) and other channel partners that utilise IoT Accelerator will now be able to provide customers with the ability to view, activate and adjust cellular data plans in real-time for their Cradlepoint devices. There are also plans to integrate with SIM aggregation databases to provide broader visibility across all global carrier’s data plans. With these integrations, Cradlepoint Cellular Intelligence now exclusively provides real-time SIM Management capability.
“Cradlepoint, together with Ericsson IoT, has extended SIM Management to Cradlepoint’s portfolio of cellular-enabled routers and adapters for fixed site, mobile, and IoT use cases,” stated Kyle Okamoto, General Manager of IoT at Ericsson. “Now, any ecosystem member that utilises the Ericsson IoT Accelerator platform can extend SIM Management functionality to Cradlepoint devices, providing our global partners with service differentiation and giving enterprise customers yet another powerful tool to help manage the cost and performance of their Wireless WAN deployment.”
To learn more about Cellular Intelligence, shipping now as part of the NetCloud Service, please visit: https://cradlepoint.com/technology/cellular-intelligence/
Cradlepoint will be at Mobile World Congress Barcelona from February 28 - March 3, 2022, visit us in booth 2J20. For more information on the event, visit: https://www.mwcbarcelona.com/exhibitors/cradlepoint
About Cradlepoint
Cradlepoint is a global leader in cloud-delivered 4G and 5G wireless network edge solutions. Cradlepoint’s NetCloud™ platform and cellular routers deliver a pervasive, secure, and software-defined Wireless WAN edge to connect people, places, and things — anywhere. More than 28,500 businesses and government agencies worldwide, including many Global 2000 organisations and top public sector agencies, rely on Cradlepoint to keep mission-critical sites, points of commerce, field forces, vehicles, and IoT devices always connected. Cradlepoint was founded in 2006, acquired by Ericsson in 2020, and operates today as a standalone subsidiary within Ericsson’s Business Area Technologies and New Businesses. Cradlepoint is headquartered in Boise, Idaho, with development centres in Silicon Valley and India with international offices in Asia Pacific, Canada, Europe, and Latin America. www.cradlepoint.com.
* IDC FutureScape: Worldwide Future of Connectedness 2022 Predictions, Doc # US47438921, October 2021
Contact
Biana Chamlet
Cradlepoint APAC PR
biana.chamlet@cradlepoint.com
Ph. +61 452 516 069
SOURCE : Cradlepoint
March 1 sees Regulations of Guangdong Province on China-Singapore Guangzhou Knowledge City
KUALA LUMPUR, Feb 24 -- The Standing Committee of Guangdong Provincial People's Congress held a media conference on the ‘Regulations of Guangdong Province on China-Singapore Guangzhou Knowledge City’ on Feb 23, with relevant officials answering questions from reporters.
The Regulations, adopted at the 39th session of the 13th Standing Committee of Guangdong Provincial People's Congress on Jan 16, will come into force on March 1, according to a statement.
They will provide strong guidance and guarantee for the accelerated construction and development of the Knowledge City, strengthening the legalised business environment, and exerting its advantages and roles in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the pilot demonstration area of socialism with Chinese characteristics.
Located in the northern part of Huangpu District, Guangzhou city, the China-Singapore Guangzhou Knowledge City has a total planned area of 232 square kilometres and is a national-level bilateral cooperation project between China and Singapore and a high-level science and innovation carrier in the Greater Bay Area.
The foundation of the Knowledge City project was officially laid in June 2010. And in July 2016, the Knowledge City became the only comprehensive reform pilot area for the utilisation and protection of intellectual property rights approved by the State Council.
High-level research institutes such as Xidian University and top talent teams led by 24 academicians including Shi Yigong and Wang Xiaodong were introduced, high-end scientific and technological innovation platforms such as China-Singapore International Joint Research Institute, gathered, and a free port of international talents, put into operation.
The construction of high-end technology innovation platforms such as the National University of Singapore Innovation Research Institute and major technological infrastructure such as the large-scale scientific device for aircraft tire dynamics were accelerated, and the brand of Singapore enterprises' first choice in China, ever more famous.
According to the ‘Overall Development Plan (2020-2035) of China-Singapore Guangzhou Knowledge City’ approved by the State Council in August 2020, the Regulations make provisions for technological innovation and intellectual property rights protection, knowledge-intensive industry development and talent support, opening-up and cooperation and other aspects.
-- BERNAMA
Thursday 24 February 2022
AM BEST DOWNGRADES CREDIT RATINGS OF SHANGHAI ELECTRIC INSURANCE LIMITED
HONG KONG, Feb 24 (Bernama-BUSINESS WIRE) -- AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Rating to “bbb+” (Good) from “a-” (Excellent) of Shanghai Electric Insurance Limited (SEIL) (Hong Kong). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect SEIL’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The rating downgrades reflect the revision of SEIL’s business profile assessment from neutral to limited. SEIL was incorporated in Hong Kong in 2018 and is a single-parent captive of Shanghai Electric (Group) Corporation, which is wholly owned by the Shanghai municipal government and is one of the largest power generation and industrial equipment manufacturing enterprises in China. SEIL serves as the group’s risk management and insurance arm. It mainly assumes premiums from the group and affiliates through inward arrangements with onshore and offshore insurers and reinsurers.
In 2019 and 2020, SEIL’s underwriting book consisted primarily of the speciality line of key equipment insurance, supplemented by traditional risks including property, construction and engineering, cargo and liability. However, following a change in government subsidy policy for key equipment insurance in 2021, the captive has stopped writing new business for this speciality line in consideration of pricing adequacy, which led to a sudden and significant decline in its top line in 2021. Going forward, SEIL plans to grow its traditional lines of business and meanwhile underwrite risks from the group’s overseas engineering projects. AM Best views the change in business strategy as a material deviation from its original business plan, and expects the captive to face an increased level of execution risk in rolling out new plans for its underwriting portfolio strategy.
AM Best assesses SEIL’s balance sheet strength at the very strong level, supported by risk-adjusted capitalisation at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). The captive’s risk-adjusted capitalisation is underpinned by its very low underwriting leverage and liquid investment portfolio. Half of SEIL’s invested assets are allocated to fixed income securities, one third are in cash and the remainder in listed stocks. While the majority of fixed income securities are investment grade, SEIL has a moderate exposure in non-investment-grade bonds, which enhance yield. In view of its low-frequency, high-severity risk profile, the captive has arranged a reinsurance programme to protect its capital in 2022. AM Best expects the captive to maintain a sufficient buffer in its risk-adjusted capitalisation to support its risk profile over the next three years.
SEIL delivered mid-to-high single digit return on equity (ROE) for 2019 and 2020, while its ROE dropped to a break-even level in 2021 as a combined result of its shrinking underwriting book and unfavourable investment result. Its operating expense ratio remained very low in 2019 and 2020 due to the minimal distribution costs from its group business. However, operating expenses increased in 2021 because of salary and office expenses, which had been fully covered by its immediate parent before but have since been assumed by SEIL. The captive has generated underwriting profits over the past three years. Nonetheless, its operating performance is exposed to potential volatility due to its small premium size and low-frequency, high-severity risk profile. In terms of investment performance, SEIL reported a net investment loss in 2021 as a result of unfavourable market conditions. The captive expects its investment return to recover gradually and stabilise going forward due to its liquid and fixed income-oriented asset portfolio.
Offsetting risk factors include the captive’s concentrated exposure to natural catastrophes and the potential risk of inadequate reserving as a start-up company due to lack of an experienced track record. Emerging risks from new markets overseas also pose a new challenge to its risk management framework.
As the first insurance licensee within Shanghai Electric (Group) Corporation, SEIL receives support in areas of inward business, operations and risk management, as well as investment and capital management. As the captive represents a fairly small business of the wider group, AM Best views the estimated loss for the group’s annual results for 2021 as having a limited negative impact to SEIL and unlikely to result in a capital repatriation; no rating drag has been applied thus far.
Negative rating actions could occur if there is significant adverse deviation in SEIL’s business plan that leads to ongoing adverse operating performance such that it no longer supports an adequate assessment. Negative rating actions may occur if its ERM fails to contain emerging risks arising from the new market. Negative rating actions also could occur if there is a material deterioration in Shanghai Electric (Group) Corporation’s credit profile.
AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best’s Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit www.ambest.com/captive.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2022 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Contact
James Chan
Associate Director
+852 2827 3418
james.chan@ambest.com
Christie Lee
Senior Director, Analytics
+852 2827 3413
christie.lee@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jim Peavy
Director, Communications
+1 908 439 2200, ext. 5644
james.peavy@ambest.com
Source : AM Best