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One QR to scan them all

Mastercard and Entersekt have collaborated to enable Nedbank’s customers to make QR payments to Masterpass, Pay@, SnapScan, and Zapper merchants and billers through the Nedbank Money app, whether they are paying online or at a physical point of presence.

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This market-first development means that Nedbank Money users need just one smartphone app for all major domestic scan-to-pay services, representing a combined footprint of more than 100,000 retail points of presence and 800 billers.

This development builds on Mastercard’s strategy to ensure interoperability between its Masterpass digital payments platform and the country’s other major mobile and digital payments services. Mastercard has, over the past year-and-half, enabled Zapper and SnapScan vendors to accept Masterpass payments and enabled Masterpass merchants to accept Zapper and SnapScan payments.

“The enablement of Masterpass scan-to-pay capability within the Nedbank application represents yet another important milestone in the digital payment convergence journey,” says Mark Elliott, division president, Mastercard Southern Africa. “It furthers our goal of driving interoperability across the payments ecosystem, so that consumers can pay securely and conveniently anywhere and with any card from a single app on their smartphones.”

Chris Wood, card issuing and payments executive at Nedbank, says, “Nedbank is incredibly proud to be leading the way in the digitization of payments after having originally launched the Masterpass payments ecosystem in 2015.”

Named Nedbank Scan-to-Pay, the feature was developed by Entersekt, a leading provider of mobile-first fintech solutions, with which Nedbank has had a long-standing relationship. Through its integration with Masterpass, Entersekt’s payments enablement product Connekt enables all the scan-to-pay services in the Nedbank banking app.

According to Schalk Nolte, CEO of Entersekt, “Nedbank’s incorporation of scan-to-pay into its banking app is evidence of its understanding that effortless accessibility, underwritten by established client relationships, represents an important advantage for any bank that wants to achieve a greater share of the booming global market in mobile payments.”

The feature has been rolled out to users of the Nedbank Money app following an automatic update. Since Nedbank customers will already have their credit and debit card details loaded on the app, they will be able to make QR-code–based mobile payments to Masterpass, Pay@, SnapScan, and Zapper merchants without any further effort on their part.

The collaboration between Mastercard, Entersekt, and Nedbank will provide added convenience and utility to Nedbank cardholders, while driving higher transaction volumes for Masterpass-enabled merchants. Nedbank Money users will also benefit from better security. They will make payments via one single, trusted application rather than needing to store card data in multiple apps, and they will be able to use biometrics as an authentication method, another first from Mastercard, Entersekt, and Nedbank.

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Worldwide ICT spending poised to hit $4.3-Tn in 2020

Worldwide spending on ICT will increase by 3.6% this year over 2019, with commercial and public sector spending accounting for well over half the total

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A new forecast from International Data Corporation (IDC) predicts worldwide spending on information and communications technology (ICT) will be $4.3 trillion in 2020, an increase of 3.6% over 2019. Commercial and public sector spending on information technology (hardware, software and IT services), telecommunications services, and business services will account for nearly $2.7 trillion of the total in 2020 with consumer spending making up the remainder.

Serena Da Rold, program manager in IDC’s Customer Insights and Analysis group, says: “The slow economy, weak business investment, and uncertain production expectations combined with protectionist policies and geopolitical tensions — including the US-China trade war, threats of US tariffs on EU automobiles and the EU’s expected response, and continued uncertainty around the Brexit deal — are still acting as inhibitors to ICT spending across regions. On the upside, our surveys indicate a strong focus on customer experience and on creating innovative products and services driving new ICT investments. Companies and organizations across industries are shifting gears in their digital transformation process, investing in cloud, mobility, the Internet of Things, artificial intelligence, robotics, and increasingly in DevOps and edge computing, to transform their business processes.”

IT spending will make up more than half of all ICT spending in 2020, led by purchases of devices (mainly mobile phones and PCs) and enterprise applications. However, when combined, the three IT services categories (managed services, project-oriented services, and support services) will deliver more than $750 billion in spending this year as organizations look to accelerate their digital transformation efforts. The application development & deployment category will provide the strongest spending growth over the 2019-2023 forecast period with a five-year compound annual growth rates (CAGR) of 11.1%.

Telecommunications services will represent more than one-third of all ICT spending in 2020. Mobile telecom services will be the largest category at more than $859 billion, followed by fixed telecom services. Both categories will see growth in the low single digits over the forecast period. Business services, including key horizontal business process outsourcing and business consulting, will be about half the size of the IT services market in 2020 with solid growth (8.2% CAGR) expected for business consulting.

Consumer ICT spending will grow at a much slower rate (0.7% CAGR) resulting in a gradual loss of share over the five-year forecast period. Consumer spending will be dominated by purchases of mobile telecom services (data and voice) and devices (such as smartphones, notebooks, and tablets).

Four industries – banking, discrete manufacturing, professional services, and telecommunications – will deliver 40% of all commercial ICT spending in 2020. IT services will represent a significant portion of the spending in all four industries, ranging from 50% in banking to 26% in professional services. From there, investment priorities will vary as banking and discrete manufacturing focus on applications while telecommunications and professional services invest in infrastructure. The industries that will deliver the fastest ICT spending growth over the five-year forecast are professional services (7.2% CAGR) and media (6.6% CAGR).

More than half of all commercial ICT spending in 2020 will come from very large businesses (more than 1,000 employees), while small businesses (10-99 employees) and medium businesses (100-499 employees) will account for nearly 28%. IT services will represent a significant portion of the overall spending for both market segments – 54% for very large businesses and 35% for small and medium businesses. Application and infrastructure spending will be about equal for very large businesses while small and medium businesses will invest more in applications.

“SMBs are increasingly embracing digital transformation to take advantage of both the opportunities it presents, and the disruption it can mitigate,” says Shari Lava, research director, Small and Medium Business Markets at IDC. “Digitally determined SMBs, defined as those that are making investments in digital transformation-related technology, are almost twice as likely to report double-digit revenue growth versus their technology indifferent peers.”

IDC’s Worldwide ICT Spending Guide Industry and Company Size is IDC’s flagship all-in-one data product capturing IT spending across more than 120 technology categories and 53 countries. This IDC Spending Guide will provide a granular view of the market for IT spending from a country, industry, company size, and technology perspective. This comprehensive database delivered via pivot table format or IDC’s custom query tool allows the user to easily extract meaningful information about various technology markets and industries by viewing data trends, relationships, and making data comparisons across more than three million data points.

The Worldwide Small and Medium Business Spending Guide provides detail on small and midsize business IT spending across 40 technology categories in nine geographic regions and 53 countries. Spending details are also provided for four company size categories: 1–9 employees, 10–99 employees, 100–499 employees, and 500–999 employees. Unlike any other research in the industry, the comprehensive spending guide was designed to help IT decision-makers to clearly understand the direction of SMB spending today and over the next five years.

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Hackers hit SA with fake VPN

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Kaspersky researchers have detected an unusual malicious campaign that uses phishing to mimic a popular VPN service. This helps spread AZORult, a Trojan stealer, under the guise of installers for Windows. The campaign, which kicked off at the end of November 2019 with the registration of a fake website, is currently active and focused on stealing personal information and cryptocurrency from infected users. This shows that cybercriminals are still hunting for cryptocurrency, despite reports that interest in the currency has died down. AZORult is highly active: in 2019 this malware targeted 78,189 users in Africa, with 16,975 users located in South Africa, 8,165 in Kenya and 1,965 in Nigeria. January 2020 has already seen the continuation of this dangerous trend, with 759 users hit in South Africa, 128 in Nigeria, and 639 in Kenya.

AZORult is one of the most commonly bought and sold stealers on Russian forums, due to its wide range of capabilities. This Trojan poses a serious threat to those whose computers may have been infected as it is capable of collecting various data, including browser history, login credentials, cookies, files from folders, cryptowallet files, and can also be used as a loader to download other malware.

In a world where privacy is heavily fought for, VPN services play an important role by enabling additional data protection and safe internet browsing. Yet cybercriminals try to abuse the growing popularity of VPNs by impersonating them, as is the case in this AZORult campaign. In the most recent campaign, the attackers created a copy of a VPN service’s website, which looks exactly the same as the original with the only exception being a different domain name.

Screenshot of a phishing copy of the targeted VPN service’s website

Links to the domain are spread through advertisements via different banner networks, a practice that is also called ‘malvertizing’. The victim visits the phishing website and is prompted to download a free VPN installer. Once a victim downloads a fake VPN installer for Windows, it drops a copy of AZORult botnet implant. As soon as the implant is run, it collects the infected device’s environment information and reports it to the server. Finally, the attacker steals cryptocurrency from locally available wallets (Electrum, Bitcoin, Etherium, and others), FTP logins, and its passwords from FileZilla, email credentials, information from locally installed browsers (including cookies), credentials from WinSCP, Pidgin messenger and others.

Upon the discovery of the campaign, Kaspersky immediately informed the VPN service in question about the issue and blocked the fake website.

“This campaign is a good example of how vulnerable our personal data is nowadays”, says Dmitry Bestuzhev, head of Kaspersky’s Global Research and Analysis Team (GReAT) in Latin America in Latin America. “In order to protect it, users need to be cautious and be especially careful when surfing online. This case also shows why cybersecurity solutions are needed on every device. When it comes to phishing copies of websites, it is very difficult for the user to differentiate between a real and a fake version. Cybercriminals often capitalise on popular brands and this trend is not likely to die down. We strongly recommend using a VPN for protection of data exchange on the web, but it is also important to closely study where the VPN software is downloaded from.”

Kaspersky detects this threat as HEUR:Trojan-PSW.Win32.Azorult.gen

Read more about this AZORult campaign on Securelist.com.

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