Fintech PR
According to Institute for Economics & Peace, Terrorism gets worse as global conflicts drive risk of new wave
- Deaths caused by terrorism increased by 22% to 8,352, the highest level since 2017.
- Attacks are more deadly as the number of terrorist incidents fell by 22% to 3,350, and number of countries reporting an incident fell to 50.
- In 2023, the US accounted for 76% of terrorism-related deaths in Western democracies, amid a 15-year low in incidents.
- The epicenter of terrorism has shifted out of the Middle East and into the Central Sahel region of sub-Saharan Africa, which now accounts for over half of all deaths from terrorism.
- Burkina Faso suffered the worst impact from terrorism, with deaths increasing by 68% despite attacks decreasing by 17%.
- Iraq recorded the largest improvement in the last decade with deaths from terrorism falling by 99% since the 2007 peak, to 69 in 2023.
- The impact of terrorism has become increasingly concentrated, with ten countries accounting for 87% of total terrorism-related deaths.
- Over 90% of terrorist attacks and 98% of terrorism deaths in 2023 occurred in conflict zones, underscoring the strong link between conflict and terrorism.
LONDON, Feb. 29, 2024 /PRNewswire/ — Despite the Hamas attacks of October 7th, the number of terrorist incidents fell in the Middle East, along with North Africa, Europe and North America. The central Sahel region has conclusively overtaken the Middle East as terrorism’s epicentre with Islamic State (IS) and Jamaat Nusrat Al-Islam wal Muslimeen (JNIM), a franchise of Al-Qaeda, being the most active terrorist organisations.
The Global Terrorism Index 2024 (GTI) highlights that terrorism remains a serious global threat, with total deaths from terrorism increasing by 22% to 8,352 in 2023, now at their highest since 2017. Even when excluding the October 7th attacks, deaths would still have increased by 5%. This is despite terrorist incidents decreasing by 22% to 3,350, resulting in a 56% increase in the average number of people killed per attack. This is the worst rate in almost ten years.
The GTI is produced by the leading international think tank the Institute for Economics & Peace (IEP) and has been published annually for the last eleven years. It is the most comprehensive resource on global terrorism trends and uses multiple factors to calculate its score, including the number of incidences, fatalities, injuries and hostages, and combines it with conflict and socio-economic data to provide a holistic picture of terrorism.
Terrorism is becoming more concentrated with the number of countries recording a death from terrorism falling to 41, considerably lower than the peak of 57 countries recorded in 2015 and the 44 countries in 2022.
Burkina Faso suffered the worst impact from terrorism in 2023, with deaths increasing by 68% despite attacks decreasing by 17%. Terrorism in the country has deteriorated every year since 2014. Neighbouring Mali and Niger were also deeply impacted in 2023.
Pakistan recorded the most incidents of any country, with 490 attacks that resulted in 689 deaths. This is the fourth successive year where both deaths and incidents have increased in the country. Iraq recorded the largest improvement in the last decade with deaths from terrorism falling by 99% since its peak in 2007, to 69 in 2023.
The deadliest terrorist incident in 2023 was the October 7th Hamas-led attack in Israel which killed 1,200 people. Its consequences are still unfolding, with more than 30,000 Palestinians killed from Israel’s military operation by mid-February 2024.
Terrorism is not the deadliest form of violence in the world. Armed conflict results in nine times more fatalities than terrorism, homicide over 45 times more, and deaths from suicide 72 times higher. However, terrorism has a uniquely disturbing psychological and social impact intended to traumatize the whole of society, rather than the individual.
Steve Killelea, Founder & Executive Chairman, IEP:
“The last twelve months resulted in the most lives lost to terrorism than in any period since 2017. Conflict remains the primary driver of terrorism, yet most wars in the 21st century have been unwinnable and very costly. Terrorism also thrives in areas of political instability; it is imperative that current political tensions and minor conflicts do not escalate and that current conflicts are resolved, otherwise further increases in terrorism are likely.
Globally, we have seen real gains in recent years in our fight against terrorism, particularly in Western democracies. However, left unchecked regional instabilities could fan the flames of a new wave of terrorism. It is therefore important that global policymakers focus international efforts to address the current global conflicts and prevent the Gaza conflict from spreading”.
Terrorism in Western Democracies
Terrorism incidents in Western democracies recorded a drop of 55% compared to the previous year. There were 23 attacks that resulted in 21 fatalities, marking a 15-year low. However, the US recorded 76% of these fatalities from seven attacks. Five of these attacks were linked to individuals with far-right beliefs yet none had an affiliation with a far-right group. Religiously motivated terrorism has dropped significantly.
In OECD countries, many of which are Western democracies, socio-economic factors such as youth unemployment, military expenditure, lack of confidence in the press and lower inequality-adjusted life expectancy correlate significantly with the GTI.
Regional instability in the Middle East
Tensions between Palestine and Israel prior to the conflict were at an all-time high and the security situation in Israel had been deteriorating. Over 2,500 instances of communal violence in Israel and Palestine were recorded in the first ten months of 2023, compared to less than 500 in 2016.
Neighbouring countries are experiencing a spillover effect, increasing regional instability. If major hostilities were to break out, terrorist activity would most likely increase substantially. Egypt, Jordan, Lebanon, Iran, Iraq, Syria, and Yemen could all be drawn into the conflict.
The risk of conflict between Hezbollah and Israel has substantially increased. Since October 7th, there have been 630 attacks between the two groups. Hezbollah currently has over 100,000 fighters, with a rocket stockpile estimated at between 100,000 and 150,000.
Regional impact & improvements
Sub-Saharan Africa, the Middle East and North Africa (MENA), and South Asia accounted for 94% of deaths from terrorism in 2023, with sub-Saharan Africa alone accounting for just under 59% of all fatalities. The Sahel accounts for almost half of all deaths from terrorism globally. The impact of terrorism has been falling in MENA since its 2016 peak, with deaths down 66% and incidents by 72%.
Terrorism & Organised Crime in the Sahel region
Organised crime and terrorism have merged in the Sahel with groups forming complex alliances and fuelling the persistence of terrorist activities in the region. Terrorist organisations sometimes integrate with organised crime groups or provide protection and safe passage for illicit trade in drugs, human trafficking and precious metals. The region has seen a surge of kidnapping since 2017, with incidents increasing from 78 to over 1,000 in 2023 and generating significant revenues for terrorist organisations.
Increased attribution to Terrorist Groups
Of the 3,350 terrorist attacks recorded in 2023, 54% were attributed to a group. IS and its affiliates remained the world’s deadliest terrorist group, responsible for 1,636 deaths, despite its attributed deaths falling by 17%. IS was followed by Hamas, JNIM, and Al-Shabaab. Together, they were responsible for over 75% of terrorism-related deaths globally. A decade ago, they were responsible for less than 25%.
In 2023, IS attacks occurred in six of the nine GTI regions: Asia-Pacific, Europe, MENA, sub-Saharan Africa, Russia and Eurasia and South Asia. In the Middle East, Syria was the country most affected by IS attacks. It recorded 224 attacks, an increase from 152 in 2022, and a quarter of all IS related deaths.
Using machine learning techniques, researchers were able to attribute an additional 15,000 deaths to IS since 2007, increasing the total number of attributed deaths from 25,000 to 40,000.
The full GTI 2024 report and interactive map are available at: visionofhumanity.org
Twitter: @GlobPeaceIndex
Facebook: facebook.com/globalpeaceindex
Global Terrorism Index (GTI)
The GTI by the Institute for Economics & Peace provides a comprehensive summary of the key global trends and patterns in terrorism over the last 15 years. The report ranks 163 countries (99.7 % of the world’s population) according to the impact of terrorism. The GTI report is produced using data from TerrorismTracker and other sources. TerrorismTracker provides event records on terrorist attacks since 1 January 2007. The dataset contains over 65,000 terrorist incidents for the period 2007 to 2022.
Institute for Economics & Peace
The Institute for Economics & Peace (IEP) is the world’s leading think tank dedicated to developing metrics to analyse peace and to quantify its economic value. It does this by developing global and national indices, including the annual Global Peace Index, calculating the economic cost of violence and understanding Positive Peace which is the attitudes, institutions and structures that create and sustain peaceful societies.
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Fintech PR
24 Exchange Receives SEC Approval of its New National Securities Exchange, “24X National Exchange”
24X National Exchange Plans to be the First Exchange to Offer U.S. Equities Trading 23 Hours-Per-Day on Weekdays
STAMFORD, Conn., Nov. 27, 2024 /PRNewswire/ — 24 Exchange announced today that it has received approval from the U.S. Securities and Exchange Commission to operate 24X National Exchange as the first national securities exchange in the U.S. that allows trading of U.S. securities 23 hours each workday. The extended hour trading is subject to Equity Data Plans making changes that would facilitate overnight trading hours and 24X National Exchange making an additional rule filing with the SEC confirming the changes and the Exchange’s ability to comply with the Securities Exchange Act.
24X National Exchange will be subject to the SEC’s ongoing regulatory oversight and full range of investor protections. The new Exchange will enable retail and institutional customers anywhere in the world to trade in U.S. equities via broker-dealers who are approved members of 24X National Exchange.
24X National Exchange will be launched in two stages. A first stage will open in the second half of 2025, with the Exchange operating from 4:00AM ET to 7:00PM ET on weekdays. The second stage, which will launch once the conditions noted above are met, will offer trading in U.S. equities from 8:00PM ET on Sunday through 7:00PM ET on Friday. A one-hour operational pause will occur during each trading day to accommodate routine software upgrades and functionality testing.
24 Exchange CEO and Founder Dmitri Galinov said: “The SEC’s approval of our new exchange is a thrilling development that the 24X Team has been working toward for many years. Traders are most at-risk when the market is closed in their geographic location. 24X National Exchange will seek to alleviate this problem by facilitating around-the-clock U.S. equities trading for broker-dealers and their institutional and retail customers.”
As the first national securities exchange approved by the SEC to operate 23 hours each weekday, subject to the conditions noted above, 24X National Exchange will initially focus on capturing the expanding demand in the APAC region for overnight liquidity in U.S. equities.
The 24X National Exchange will run on a proven, state-of-the-art technology platform provided by MEMX Technologies. The new Exchange’s executive team will place a high priority on enhancing client experience through continuous technology innovations and improvements.
“With this historic SEC approval in place, we will build and operate a customer-driven Exchange that can rapidly align with market demands and adapt quickly to client feedback,” Galinov added. “We look forward to bringing a superior trading experience to global customers. 24X National Exchange will deliver the cost efficiency, speed, resilience, and adaptability that the company’s financial institutional customers have long come to expect.”
24X National Exchange will close on U.S. market holidays, similar to the schedules maintained by the NYSE and Nasdaq.
24 Exchange through 24X Bermuda Limited, an affiliate of 24X National Exchange, will continue to offer FX NDFs, Swaps and Spot trading to institutional clients. Since its launch in 2019, 24 Exchange’s multi-asset offering through a single trading interface has enabled clients to access increased liquidity at lower cost.
About 24 Exchange
24 Exchange allows market participants to seamlessly exchange their exposures at the lowest possible cost. 24 Exchange’s mission is to enable members to initiate the most cost-effective trades across a growing range of asset classes, 24 hours a day. 24 Exchange lowers the cost of exchanging assets in the global markets while delivering creative and unique workflows catered to each asset class. More information is available at https://24exchange.com/.
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DUBAI, UAE, Nov. 28, 2024 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, unveiled a new candidate for a potential Bybit Spot listing via ByVotes, HPOS10I (HarryPotterObamaSonic10Inu). Voting is now open for Bybit users with an opportunity to divide a prize pool of 1,800,000 HPOS10I.
From now to Nov. 29, 8AM UTC, supporters of HPOS10I may cast their votes for the project in two simple steps: deposit eligible assets into their Bybit account to produce a holdings snapshot, and head over to ByVotes to cast their votes. With sufficient votes from the community, the project will be listed on Bybit Spot, and the voters will receive a share of the airdrop from HPOS10I.
The iconic memecoin was the first of its kind to fuse the realm of fantasy and the chaotic lure of crypto, leaving its mark in crypto history since its launch in May 2023. It is known for its vibrant community, the Sproto Gremlins, an NFT collection of 3,333 exclusive unique manifestations of HPOS10I’s egregore.
Bybit has recently revamped ByVotes to raise the bar for listing requirements and yield more power to the community. Users now have more control over the number of votes they get by increasing holdings or by referrals, while unlocking more earning potentials from project listings.
The new mechanism enhanced both project quality and community engagements. A variety of tokens have achieved 100% listing odds via ByVotes, including CHILLGUY, LUCE, and NEIROCTO, among others. Multiple projects featured exclusive airdrops for the community that helped them become listed on Bybit Spot.
ByVotes provides an arena for niche projects where participants stand to be rewarded from various prize pools if the projects they vote for succeed in getting listed status on Bybit Spot: ByVotes Spot.
#Bybit / #TheCryptoArk
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press
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For more information, please visit: https://www.bybit.com
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Fintech PR
Mobile Wallet and Payment Market Skyrockets to $71.28 Billion by 2031 Dominated by Tech Giants – Paytm E-Commerce Pvt Ltd, Telefonaktiebolaget LM Ericsson and Early Warning Services, LLC | The Insight Partners
The global mobile wallet and payment market is set for explosive growth, with projections indicating a surge to $71.28 billion by 2031. This remarkable expansion, driven by increase in demand for multi-currency mobile wallets and growing demand for contactless payment solutions.
NEW YORK, Nov. 27, 2024 /PRNewswire/ — According to a new comprehensive report from The Insight Partners, the global Mobile Wallet and Payment market is observing significant growth owing to the demand for multi-currency mobile wallets. Remitting money from one home country to another can be a time-consuming operation owing to the varied conversion rates, high remittance fees, and related taxes. A multi-currency wallet allows businesses to pay, receive, and save various currencies in a single digital wallet rather than maintaining separate accounts for each international currency. The multi-currency digital wallet eases overseas payments and currency conversions. Moreover, the multi-currency wallet provides various guaranteed benefits for cross-border payments.
For Detailed Market Insights, Visit: https://www.theinsightpartners.com/reports/mobile-wallet-and-payment-market
The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the mobile wallet and payment market comprises a vast array of components that are expected to register strength during the coming years.
Market Overview and Growth Trajectory:
Mobile Wallet and Payment Market Growth: According to an exhaustive report by The Insight Partners, the Mobile Wallet and Payment Market is experiencing significant growth, driven by increasing government initiatives for adoption of mobile wallet and payment solutions and expansion of e-commerce industry. The market, valued at $10.28 billion in 2023, is expected to grow at a Compound Annual Growth Rate (CAGR) of 27.4% during 2023–2031.
For More Information and To Stay Updated on The Latest Developments in The Mobile Wallet and Payment Market, Download The Sample Pages: https://www.theinsightpartners.com/sample/TIPTE100000231/
The global mobile wallet and payment market is observing substantial growth and is expected to maintain its upward trajectory in the foreseeable future. This growth can be accredited to numerous factors. Firstly, contactless payment adoption has risen dramatically across the globe, as it eliminates consumers’ need to carry cash while making purchases. Digital payments, which include near-field communication (NFC) and QR code-based transactions, are becoming more popular. Consumers are highly preferring contactless payment solutions for speeding financial transactions. The demand for a quick, safe, and clean payment method, particularly in the post-pandemic era, has accelerated the use of contactless technology. This has transformed the checkout experience in both physical and digital stores, making faster and more convenient transactions.
Increasing Government Initiatives for Adoption of Mobile Wallet and Payment Solutions: Mobile wallet and payment solutions are critical for consumers and businesses, as they increase accessibility, improve security, reduce transactional costs, and make payments faster. Increasing technological advancements, rising consumer demand for two-factor authentication (2FA) security, and other factors are boosting the demand for mobile wallets and payment solutions. This also encourages government bodies to take initiatives to support the adoption of mobile wallets and payment solutions in order to secure their business from financial risks. For instance, the DigiDhan Mission, established under the Ministry of Electronics and Information Technology (MeitY) in India, aims to promote a cashless economy and provide a smooth digital payment experience for all citizens.
Expansion of E-Commerce Industry: The rise in the e-commerce business and consumers’ preference for online shopping has increased the adoption of mobile wallets and payment solutions for making quick payments. In May 2024, The Census Bureau of the Department of Commerce revealed that the estimate of the US retail e-commerce sales for the first quarter of 2024 was US$ 289.2 billion due to the seasonal variation adjustments and not price change. This represents a 2.1% (±0.7%) rise from the fourth quarter of 2023. Retail sales in the first quarter of 2024 stood at US$ 1,820.0 billion, with a fall of 0.1 % (±0.4%) from the fourth quarter of 2023. In the first quarter of 2024, e-commerce expanded by 8.6% (±1.1%) compared with the first quarter of 2023. Total retail sales were increased by 1.5% (±0.5%). In the first quarter of 2024, e-commerce sales made up 15.9% of the total sales.
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Emergence of Real-Time Payments in Developing Nations: Efficient and secure ways to make transactions are increasing the demand for real-time payments (RTPs). These technologies have made payments more convenient, quick, and secure, as well as eliminating the need for cash or cheques. The acceptance of RTPs has enabled rapid payment between businesses and organizations. Users can initiate payments at a minimal or no cost using a mobile number or QR code, eliminating the necessity for bank account details. Countries, including Kenya, Mexico, Brazil, and Sweden, are increasingly demanding mobile wallets and payment solutions to conduct transactions in real-time. The usage of mobile devices has been one of the most significant advances in real-time payment systems. With the growth of smartphones and mobile payments, consumers can easily send and receive payments on the go, eliminating the need for a computer or physical card reader.
Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by APAC and Europe. APAC is expected to register the highest CAGR during the forecast period.
Mobile Wallet and Payment Market Segmentation, Applications, Geographical Insights:
- Based on type, the mobile wallet and payment market is bifurcated into remote and proximity. The proximity segment held the largest share of the Mobile Wallet and Payment market in 2023
- In terms of technology, the market is divided into near-field communication, QR code, text-based, and others. The QR code segment held the largest share of the Mobile Wallet and Payment market in 2023.
- By end user, the mobile wallet and payment market is segmented into personal and business. The personal segment held the largest share of the Mobile Wallet and Payment market in 2023.
- The mobile wallet and payment market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
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Key Players and Competitive Landscape:
The Mobile Wallet and Payment Market is characterized by the presence of several major players, including:
- Paytm E-Commerce Pvt Ltd
- Telefonaktiebolaget LM Ericsson
- Early Warning Services, LLC
- PayU
- One MobiKwik Systems Limited
- Apple Inc
- Alphabet Inc
- AT&T Inc
- Paypal Holdings Inc
- Samsung Electronics Co Ltd
- Mastercard Inc
- Fitbit LLC
- American Express
- Visa Inc
- FIS Global
- Alipay
- Bharti Airtel
- SoftwareGroup
- PhonePe
- ACI Worldwide Inc.
These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market.
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Mobile Wallet and Payment Market Recent Developments and Innovations:
- “PhonePe announced that it has enabled UPI payment acceptance in collaboration with LankaPay across LankaQR merchant points at a grand event held in Colombo.”
- “Zeepay, the fastest-growing wholly Ghanaian-owned fintech in Ghana, introduced new digital financial solutions in partnership with Software Group, a global financial technology provider, to scale its business and accelerate financial inclusion.”
- “Mobily (a leading digital partner of the international technical conference LEAP 23) announced the launch of Mobily Pay during LEAP 23 in partnership with Ericsson in the Kingdom of Saudi Arabia (KSA). Mobile Pay is a mobile financial service that is available to all the users in the Kingdom to conduct personalized financial services such as contactless payments, money transfers, international remittance, digital card payments, cash-back, bill payments, mobile top-up, and more, secure and at their convenience.”
Mobile Wallet and Payment Market Drivers, Challenges, Future Outlook and Opportunities:
According to Primer, debit card usage in the UK exceeds the usage levels in any other European country; ~90% of the population in the country owns Visa or Mastercard cards, which are instrumental in enabling digital transactions. Alternative payment methods also hold considerable importance in the country. Merchants in the UK are required to provide mobile wallet options, particularly Apple Pay and Google Pay, to manage their widespread operations. BNPL services are also well-received, with 36% of adults utilizing BNPL at least once in one year. While open banking payments are gaining traction, they currently represent a small portion of overall payment volumes.
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Mobile wallets are the second most favored online payment option among consumers in France. Global companies such as Google Pay, Apple Pay, and PayPal operate alongside France-based service providers such as Lyf, Lydia, and PayLib. PayLib is one of the most popular digital wallets in the country because of its integration with Cartes Bancaires. According to Pay.com, approximately 38% of online purchases made in France were paid for using a digital gadget in 2023. Various options available for French consumers for making payments using phones and watches include Amazon Pay, digital wallet brands such as Lyf, bank-specific apps, and mobile-only payment solutions such as Revolut and Monese.
Conclusion:
Multi-currency wallets provide enhanced security features and multiple authentication methods to protect account information and funds. It helps make secured overseas transfers and currency exchange. Consumers can switch currencies, pay bills, and create transactions in multiple currencies without managing multiple accounts. Multi-currency wallet allows consumers to make smooth cross-border payments with one tap. Multi-currency wallets allow consumers to swap currencies without the stress of foreign exchange. This enables consumers to carry any currency for all their foreign transactions without difficulties. Multi-currency wallets help in reducing international transaction expenses by eliminating currency translation fees. Furthermore, foreign transfers with banks incur additional prices and hidden fees; however, with a multi-currency wallet, consumers no longer have to bother with these unneeded costs. Therefore, multi-currency mobile wallets allow businesses to ensure that there are no issues with promoting and distributing products and services worldwide. They also support businesses in enhancing customer experiences.
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With projected growth to $71.28 Billion by 2031, the Mobile Wallet and Payment Market represents a significant opportunity for component providers, system technology integrators, system manufacturers, investors, industry stakeholders, end users and others. By staying abreast of market trends, embracing innovation, and focusing on quality and performance, companies can position themselves for success in this dynamic and evolving market landscape.
Related Report Titles:
- Mobile Wallet Market Size Forecast and Report Analysis by 2031
- Digital Payment Market Size, Share, Trends, Report 2028
- E-commerce Payment Market Share, Size & Forecast to 2025
- Asset and Wealth Management Market Size and Share by 2031
- Real Time Payments Market Forecast – Global and Regional Share 2031
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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