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E-commerce all in the niche?

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According to PETER HARVEY, CEO of PayGate, 2015 will see many more new e-commerce start-ups along with continued growth and innovation by established niche players.

“Five years ago we’d load ten start-ups onto our payment gateway for every established business; now the ratio is more like 100 to one,” says Peter Harvey, CEO of PayGate. “The sluggish job market in traditional corporates is driving a lot of young people to start their own businesses. They have little to lose, so even when 60% of these new businesses fail they’re able to adapt and try something else.  Things move fast in this market and we can’t predict who the successes will be, but overall about 10% of them do really well.”

Harvey says this rapid growth is partly driven by lower barriers to entry and faster time to market. “Services like PayGate’s PCS mean it’s no longer necessary to get a merchant account from a bank before you can sell online, and we’re putting a lot of effort into supporting the developer community that’s a crucial enabler.”

As new entrants work to gain a foothold, Harvey predicts most of the innovation will come from established niche players including specialist online retailers, airlines, ticketing companies and travel and tourism players. “These are players who’ve been around for a while, who understand their markets, know how to manage risk and are investing strategically. We’re seeing continued demand from these players for more payment methods to offer their customers as they expand into markets where credit cards aren’t common – they need to be able to accept debit cards, international payments like Paypal and cash alternatives.”

The growth of e-commerce will also drive further growth and innovation in logistics and distribution, says Harvey. “The Post Office is increasingly not a viable partner, so distribution is going to be an interesting space to watch. This week’s R20m investment in WantItAll’s logistics startup Parcelninja is probably just the start.”

Across the board, says Harvey, regulatory compliance and risk management will continue to be a key factor. “Banks, merchants and customers all need to manage the risks of fraud, and it’s a complex business. If e-commerce is to carry on growing, payment service providers like PayGate need to take the lead in reducing this complexity and offering easy, affordable fraud protection services.”

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Password managers don’t protect you from hackers

Using a password manager to protect yourself online? Research reveals serious weaknesses…

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Top password manager products have fundamental flaws that expose the data they are designed to protect, rendering them no more secure than saving passwords in a text file, according to a new study by researchers at Independent Security Evaluators (ISE).

“100 percent of the products that ISE analyzed failed to provide the security to safeguard a user’s passwords as advertised,” says ISE CEO Stephen Bono. “Although password managers provide some utility for storing login/passwords and limit password reuse, these applications are a vulnerable target for the mass collection of this data through malicious hacking campaigns.”

In the new report titled “Under the Hood of Secrets Management,” ISE researchers revealed serious weaknesses with top password managers: 1Password, Dashlane, KeePass and LastPass.  ISE examined the underlying functionality of these products on Windows 10 to understand how users’ secrets are stored even when the password manager is locked. More than 60 million individuals 93,000 businesses worldwide rely on password managers. Click here for a copy of the report.

Password managers are marketed as a solution to eliminate the security risks of storing passwords or secrets for applications and browsers in plain text documents. Having previously examined these and other password managers, ISE researchers expected an improved level of security standards preventing malicious credential extraction. Instead ISE found just the opposite. 

Click here to read the findings from the report.

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MWC: Next generation of inflight connectivity to be unveiled

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Next week at Mobile World Congress, the Seamless Air Alliance will reveal progress on its mission towards enabling the next generation of inflight connectivity. This follows a significant start for the Alliance, which has seen membership increase five-fold since the first meeting in June of last year. The Alliance has a new research laboratory setup and continues progress through its three working groups, writing specifications for the technology, requirements, and operations.

These developments represent a huge leap towards the goal of making connectivity as easy and enjoyable in the skies as it is on the ground. Appearing as part of the Airbus stand (Hall 6, stand 6G34), the Seamless Air Alliance will reveal specification topics that have been completed and published to its membership.

“The passenger experience with inflight connectivity remains one of the great technology challenges. From Day One we have been determined to deliver on our mission to bring industries and technologies together to make the inflight internet experience simple to access and a delight to use,” said the Alliance’s Chief Executive Officer, Jack Mandala.

“I have been tremendously encouraged by the enthusiastic and committed response we have seen and the widening areas of expertise we can call upon as more and more companies and organisations continue to join us,” he added.

Announced during MWC 2018, the Seamless Air Alliance has since grown to twenty-three membercompanies with more than one-hundred key personnel from across the membership participating in its three working groups, with numbers continuing to increase.

The Seamless Air Alliance was created by founding members Airbus, Airtel, Delta Air Lines, OneWeb and Sprint, and quickly joined by Air France KLM, Aeromexico, and GOL Linhas Aereas Inteligentes and global technology leaders including Astronics, Collins Aerospace, Comtech, Cyient, iDirect, Inmarsat, Intelsat, Latecoere, Nokia, and Panasonic. 

Today, the Alliance is pleased to announce five additional new members: Adaptive Channel, Etihad Airways, GlobalReach Technology, Safran, and SITAONAIR.

“We are extremely pleased to have these companies join and be a part of the companies driving the next generation of connectivity.” said Mr Mandala.

The Seamless Air Alliance will enable travelers boarding any flight, on any airline, anywhere in the world, to use their own devices to automatically connect to the Internet with no complicated login process nor paywall to scramble over.

The Alliance is also announcing the release of a new research study on the economic benefit of standardization on the inflight connectivity market at Mobile World Congress. This report is available for download at https://www.seamlessalliance.com/publications/

The Alliance is moving rapidly towards an expected demonstration of the technology later in 2019 and anticipates massive interest in Barcelona from the whole communications eco-system.

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