An additional 110 million contactless payment cards expected to be issued in 2020, when compared to pre-COVID-19 forecast expectations
According to Tech market advisory firm, ABI Research, COVID-19 is expected to have a profound effect on the payment cards market. Contactless is considered the more hygienic and safe way of making proximity payments, and this is being reinforced by ecosystem players who are shifting marketing messages from contactless transactions used to increase convenience levels toward safety and health. Globally, contactless adoption will increase between +6% to +8% when compared to pre-COVID-19 expectations, with the issuance levels forecast to grow by 14% YoY, accounting for more than 65% of all cards issued in 2020 .
“Although the overarching trend toward contactless was well in place prior, COVID-19 will further increase the speed of contactless adoption, particularly within countries and economies where cash remains king, and usage not only being encouraged by payment ecosystem players and suppliers but also by governments and health organizations including the WHO,” explains Phil Sealy, Research Director at ABI Research.
“The way people pay for things is rapidly evolving and changing. COVID-19 has driven a significant shift in consumer spending habits spurred by economic uncertainly and a push toward the purchase of mainly essential items. There is also a surge in e-commerce whereby consumers are becoming even more heavily reliant on online retail channels to avoid crowded places to limit social interactions,” Sealy points out.
However, with a significant strain placed on e-commerce, physical brick and mortar retail still has a major role to play and is essential in many instances. In most countries, retailers considered essential (e.g., supermarkets) remain open. They have put in place measures to help combat the spread of COVID-19 to shoppers and customers, including the enforcement of 2-meter distancing and placing protective screens at checkouts. They are also encouraging digital payments over cash and, where possible, completely contactless transactions.
Major payment networks, including Visa and Mastercard, are looking to aid in the pandemic by increasing contactless card spending limits. Many national and local authorities and governments, as well as merchants, are encouraging digital payments over cash, using the digital transaction method to limit contact with items and objects that are communal and used by multiple people—in this instance, point-of-sale terminals.
“COVID-19 is not only bringing contactless to the forefront of the digital payment experience, but also other next-generation payment card form factors. As consumers increasingly use and become more reliant on contactless, the question of how best to secure and limit fraud on increasing contactless transaction volumes and values will come into play,” Sealy says.
Biometric payment cards are well-positioned as a solution that offers a contactless payment card experience without limits. The use of multi-factor contactless transaction authentication will become a key theme post-COVID-19, extending security previously reserved for high computer-powered devices such as smartphones and mirroring the experience and security features onto the passive payment card form-factor.
“The message is clear that contactless payments have a critical role to play in the fight against COVID-19, from a hygiene, health, and safety perspective,” Sealy added.
This News has been Published in Partnership with PR Newswire
CropX Acquires Tule, Further Expands in California with New Solutions for Specialty Crops and Drip Irrigation
NAPA, Calif., Jan. 31, 2023 — CropX Technologies, a global leader in digital solutions for agronomic farm management, today announced its acquisition of Tule Technologies, a precision irrigation company based in California. This acquisition brings new data capture technologies to the CropX Agronomic Farm Management System and expands its market in California drip-irrigated specialty crops.
The CropX system offers its users real-time mobile and desktop insights and advice on irrigation, disease control, nutrient management and more, based on above-ground crop sensing data and below-ground soil monitoring. Tule brings a complementary new mode of data collection from above the plant canopy that precisely determines crop water use, which will enhance CropX’s artificial intelligence predictions, recommendations, and automations, and add to its solutions for drip-irrigated specialty crops such as tree-nuts and vineyards.
Effective immediately, all Tule employees will join CropX, adding expansive on-farm and client service expertise in the specialty crop and drip irrigation space, as well as technology talent to CropX’s growing global team.
“We are excited to welcome Tule to CropX, expanding our offerings to our customers to solve agronomic problems. With Tule’s canopy data incorporated into the CropX system, CropX is adding a new and powerful dimension to the world’s most complete precision irrigation solution,” said Tomer Tzach, CEO of CropX Technologies.
“At Tule, we’ve admired CropX for their agronomic expertise, engineering excellence, and global ambition,” said Dr. Tom Shapland, CEO of Tule Technologies. “We couldn’t be more thrilled to join the CropX team.”
The acquisition comes at a time of increasing demand for precise watering technologies in agriculture. “The farming industry is at the frontlines of global challenges to balance food security with water and other natural resources,” said Dr. John Gates, Senior Vice President and Global Head of Product at CropX. “We are committed to helping our customers manage water confidently and efficiently with technology. Tule’s unique tech and vast experience with California vineyards and orchards are a perfect fit.”
This is the fourth acquisition CropX has made since 2020 and the second US-based company. CropX acquired Nebraska-based CropMetrics in the first quarter (Q1) of 2020, New Zealand-based Regen in Q4 of 2020, and Netherlands-based Dacom Farm Intelligence in Q3 2021, in each case adding expertise, technologies, customers, data and expanding markets.
About CropX Technologies
CropX Technologies is one of the fastest growing providers of agribusiness farm management solutions in the world, deployed in over 60 countries and across all arable continents. The CropX Agronomic Farm Management System synthesizes data from the earth and sky to offer advanced soil and crop intelligence and a suite of digital decision support and planning tools, all on an easy-to-use app capable of tracking multiple farms and fields. CropX is backed by the world’s leading agribusinesses and VCs, who recognize that CropX’s precision-ag technologies set new standards for best practices in environmental sustainability and farm productivity. Learn more at www.cropx.com.
About Tule Technologies
Founded in 2014 with backing from Y-Combinator and others, Tule (pronounced “too-lee”) combines proprietary technology, agronomic expertise, and cutting-edge artificial intelligence to provide farmers with irrigation decision support solutions. Their unique in-field sensor, developed at the University of California, Davis, is the only commercially available device for measuring Actual Evapotranspiration (i.e., the water use of a farm field). The company’s customers include the winemakers who tend to coastal California’s most prized vineyards to the agronomists who farm thousands of acres of tree crops in California’s inland valleys.
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ClimeCo Acquires 3GreenTree To Enrich Ecosystems Around the World
To enhance the sustainable management of nature and deliver environmental, social, and economic benefits, ClimeCo is excited to announce the acquisition of 3GreenTree Ecosystem Service Ltd. (3GreenTree). ClimeCo, a global sustainability advisor with a harmony of industrial and nature-based carbon solutions that meet the diverse needs of their clients’ climate programs, believes that resilient systems depend on locally derived and market-based solutions.
“We are delighted to add the depth and breadth of experience that 3GreenTree brings to ClimeCo,” says Erika Schiller, ClimeCo’s Senior Vice President of Project Development. “Our Project Development Team has been working with 3GreenTree on many opportunities to build carbon models, assess and manage risk, and deliver better turn-key projects. They are integral to ClimeCo’s growth and investment in carbon removals.”
Since 2008, 3GreenTree has developed environmental credits from forest carbon removal projects, generating maximum value and putting markets to work on the path to net-zero emissions. They’ve established an unparalleled reputation for excellence and quality service regarding emission reduction targets, project development, and natural resource analysis and modeling.
“With ClimeCo’s talent and resources and 3GreenTree’s leading-edge carbon expertise, we can now develop turn-key projects in new and important ecosystems,” says Clive Welham, ClimeCo’s new VP of Nature-Based Solutions (formerly 3GreenTree’s Managing Director). “Repositories of vast stores of Blue Carbon, such as mangroves, sea grasses, and title wetlands, are badly degraded or completely lost. Together, we will enhance our removal project efforts by contributing to climate change mitigation, water and food security, water pollution abatement, improved human health, biodiversity loss, and reduced disaster risk.”
ClimeCo is excited about the opportunities to capitalize on developments in the nature-based solutions space and is inspired to generate results that benefit people, the environment, and the climate.
ClimeCo is a respected global advisor, transaction facilitator, trader, and developer of environmental commodity market products and related solutions. We specialize in voluntary carbon, regulated carbon, renewable energy credits, plastics credits, and regional criteria pollutant trading programs. Complementing these programs is a team of professionals skilled in providing sustainability program management solutions and developing and financing of GHG abatement and mitigation systems.
For more information or to discuss how ClimeCo can drive value for your organization, contact us through our website climeco.com. Follow us on LinkedIn, Facebook, Instagram, and Twitter using our handle, @ClimeCo.
CJ HDC biosol held the Opening Ceremony to Celebrate the Completion of New Bioplastic Compounding Plant
- New venture will focus on development of differentiated eco-friendly materials to become a ‘global green product hub’ for building a circular plastic economy
- New South Korean-based compounding facility has annual production capacity of 11,000 tons
CJ HDC biosol (biosol) and CJ Biomaterials, Inc., a division of South Korea-based CJ CheilJedang and a primary producer of polyhydroxyalkanoate (PHA), will work together to accelerate the development and commercialization of ecofriendly bioplastics. biosol has completed construction of a new South Korean bioplastic compounding plant in Jincheon, Chungcheongbuk-do, which has capacity to produce 11,000 tons of bioplastics annually. CJ HDC biosol, established in February 2022, is the result of the joint venture between CJ CheilJedang and HDC Hyundai EP, South Korea’s largest plastic compounding manufacturer, to create an eco-friendly material compounding business.
Compounding is a process of mixing or blending polymers and additives together to create a customized plastic solution to meet specific color, property and performance requirements. biosol’s new facility will focus on developing sustainable solutions using a variety of biopolymers, such as CJ Biomaterials’ amorphous PHA, cellulose, polylactic acid (PLA) and others. CJ Biomaterials is the leading producer of amorphous PHA, which is a softer, more rubbery version of PHA that offers fundamentally different performance characteristics than crystalline or semi-crystalline forms of PHA and is a very good modifier for other bioplastics. It has strong biodegradability and compostability properties and can contribute to marine or soil biodegradable, or home compostable products in a variety of applications.
biosol has started production at its approximately 40,000 square-foot compounding facility, which will help bolster the success of CJ CheilJedang and HDC Hyundai EP commitments to a sustainable future. The new plant will allow CJ CheilJedang to expand its business area to encompass more eco-friendly materials beyond its PHA technology, introducing a new growth engine for the company, while HDC Hyundai EP is expected to further consolidate its position as South Korea’s leading compounding business.
“Global customers are setting aggressive environmental, social and governance goals, focusing on sustainable management amid the rising trend toward carbon neutrality,” said CJ CheilJedang CEO Choi Eun Seok, at a ribbon cutting officially opening the Jincheon site. “We are committed to devoting resources to support biosol and the goals of the joint venture to become a leading eco-friendly material solutions company by providing our differentiated PHA material to combine with the cutting-edge compounding capabilities of HDC Hyundai EP.”
Chung Joong Kyu, CEO of biosol, added: “We are focused on the development of differentiated eco-friendly materials and committed to moving forward as a ‘Global Green Product Hub’ to help establish a ‘plastic circular economy.”
For information on CJ Biomaterials, visit our website at https://www.cjbio.net/en/products/cjPha.do.
About CJ BIOMATERIALS
CJ Biomaterials, a business unit of CJ BIO, is a part of CJ CheilJedang, a global lifestyle company with a vision to inspire a new life filled with health, happiness and convenience. CJ Group has organized its business portfolio into four core sectors: Food & Food Service, Bio & Pharma, Entertainment & Media, and Retail & Logistics. CJ BIO is the world’s leading supplier of fermentation-based bioproducts for animal nutrition, human nutrition, and biomaterials at its thirteen manufacturing facilities worldwide. It is the mission of CJ Biomaterials to develop meaningful solutions to the global problem of plastic waste and other sustainability challenges at scale. CJ Biomaterials has been working toward bio-based chemicals and biopolymers as part of a long-term vision to expand into technologies that can help create a more sustainable future. CJ Biomaterials is a leader in the manufacture of polyhydroxyalkanoates (PHAs) – both polymers and related chemistries. We have the core technology platforms necessary to implement PHA-based solutions at scale including bioscience, chemical engineering, materials innovation and applications development. We have the technology, expertise and capacity to make an impact with PHA in global markets and important applications, ranging from flexible and rigid packaging, 3D printing and agricultural films to coatings, personal care, and healthcare.
As a socially responsible company, CJ Biomaterials strives toward practicing carbon-neutral manufacturing operations by utilizing renewable raw materials and developing value-added coproducts to minimize environmental waste.
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