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Source: http://www.businessinsider.com/developing-countries-with-most-millionaires-2012-12

It’s no secret that emerging markets are producing an increasing number of millionaires each year.

The Financialist, Credit Suisse’s digital magazine about business and economies, recently released a Global Wealth Report which looked at personal wealth around the globe. The report found that in the next five years more and more millionaires will come from countries in the developing world, such as Brazil and China.

By 2017, China, which currently has 964,000 millionaires, will have 1,901,000 millionaires—a growth of 97 percent, according to The Financialist. And Brazil, which currently has 227,000 millionaires, will have 497,000 millionaires by 2017—a growth of 119 percent. Russia and Malaysia will also see their numbers of millionaires grow over the next five years with a growth of 109 percent and 108 percent respectively.

See the full infographic below.

Millionaires Infographic

SEE ALSO: The 10 Best US Cities To Become A Millionaire

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Monday, December 17th, 2012 Uncategorized No Comments

I Really Want a Credit Card with a LCD Screen and Touchscreen Keypad

Source: http://gizmodo.com/5958721/i-really-want-a-credit-card-with-a-lcd-screen-and-touchscreen-keypad

I Really Want a Credit Card with a LCD Screen and Touchscreen KeypadYou can have your black card and your credit card carved out of adamantium (just kidding, I would really like that), the only credit card I want is MasterCard’s Display Card. MasterCard has been testing the card that comes with a LCD and touchscreen keypad, for some time and has now introduced it in Singapore. They say the added tech is for security: users can generate a one-time password as an authentication security measure.

Here’s MasterCard:

At present, banking institutions that necessitate a higher level of security for their online banking services require the use of a separate authentication token or device. The innovative 2-in-1 device, which combines the functionality of a standard payment card with a state-of-the-art security token, currently reflects the customer’s OTP. In future, this card could incorporate additional functionalities and be able to indicate other real time information such as available credit balance, loyalty or reward points, recent transactions, and other interactive information.

I’m in the camp of throwing a LCD screen and touchscreen keypad on as much things as you can. I don’t even really care about the security function, I just like staring at screens. [Mastercard via CNET]

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Wednesday, November 7th, 2012 news No Comments

How Apple Can Upend Mobile Payments With The iPhone 5… (AAPL)

Source: http://www.businessinsider.com/heres-how-apple-could-upend-mobile-payments-with-the-iphone-5-2012-8

smartphone use in storesThe biggest new feature on the iPhone 5 may be a relatively under-reported one: the installation of a Near-Field Communications (NFC) chip that would allow the iPhone 5 to process mobile payments.

The Wall Street Journal recently detailed the high-level debate Apple executives are currently having over whether and how to do just that. 

In a recent report, BI Intelligence explores the state of mobile payments, explaining how NFC differs from other solutions in the market, and analyzing how Apple has a unique opportunity to own NFC and upend the mobile payments market. 

Access The Full Report By Signing Up For A Free Trial Today>>

Here’ s why Apple — and only Apple — could make NFC work: 

  • But, NFC suffers from the chicken-and-egg problem: Retailers will not add NFC receivers to their point-of-sale systems until they see an economic rationale to do so — that is, until enough consumers are paying with NFC or want to pay with NFC. Meanwhile, consumers will not see the point of using NFC until there are enough receivers for it. This is a very large network effect to overcome.
  • Apple is therefore uniquely able turn NFC into a viable payments solution: Hundreds of millions of consumers have accounts with Apple and already use them to purchase goods. That consumer power, combined with strong iPhone 5 sales, would give Apple a great shot at bringing big retailers along with their move to NFC. NFC would then have a chance to suddenly reach critical mass all at once, and Apple would be in an incredibly strong position in the sizable and growing mobile payments space.

In full, the report:

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Tuesday, August 7th, 2012 news No Comments

AMC’s Advertising Shows Are A Mess

Source: http://www.businessinsider.com/chart-amcs-advertising-shows-are-a-mess-2012-5

Mad Men The Pitch AMC Ratings 2012

Early last week, we chronicled how AMC’s advertising competition show, The Pitch, had some seriously awful ratings.

The low ratings prompted AMC to move The Pitch from its Monday time slot to Sundays, following AMC’s other advertising show, Mad Men.

It’s hard to say the move didn’t work—viewership has doubled— but a new trend is emerging: Mad Men is struggling.

The most recent episode, which aired on Sunday, had just under two million viewers or one-third less viewers for when Mad Men first aired a one-hour episode this season on March 25. (It’s an over 45% drop-off from the 3.535 million viewers Mad Men claimed during its two-hour premier in March.)

It should be noted Mad Men debuted with record ratings and is still beating last season’s average. Although Netflix took credit for an added million viewers, i.e. the bulk of the difference between the record premiere and last season’s average.

We’ve mentioned it a few times before, but advertising shows traditionally do not work.

Despite not having a single positive trend in ratings since the season began, Mad Men will fare a lot better than The Pitch, which has failed to cross the 0.1 threshold from Nielsen since its debut while being described as an oversimplification, outdated and phantasmagoricaly awful from critics.

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Thursday, May 24th, 2012 Uncategorized No Comments

Visa Failed Again As Its Network Went Down For 40 Minutes On Sunday

Source: http://www.businessinsider.com/visa-network-outage-2012-4


Visa

WASHINGTON (AP) — A technical problem affecting the Visa network barred some people around the United States from using their credit and debit cards for about 45 minutes on Sunday, the company said.

The outage was caused by a recent update Visa has made to its system, said Visa Inc. spokeswoman Sandra Chu. She said Visa had trouble processing some transactions as a result, but the system is operating normally now.

Chu said the problem Sunday was unrelated to the security breach potentially affecting Visa and MasterCard customers that was reported Friday by credit card processor Global Payments Inc.

The outage occurred from around 2:40 p.m. to 3:20 p.m. EDT, a person from a major bank said. The person spoke on condition of anonymity because bank employees were not authorized to speak publicly. Visa had notified the banks that are members of its network of the problem.

Consumers and merchants reported having Visa cards rejected on Sunday.

At the Shoot Smart gun range in Fort Worth, Texas, manager Jared Sloane said credit and debit transactions stopped working early in the afternoon.

Sloane said a few customers walked out when told they could only pay with cash or check, but otherwise the problem wasn’t yet much of a disruption.

Shoot Smart said problems with transactions were persisting at about 6:40 EDT.

Chu said Visa’s system was fully up and operational.

__

Associated Press writer Paul Weber in San Antonio contributed to this report.

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Monday, April 2nd, 2012 news No Comments

Source: http://gizmodo.com/5884415/travelling-in-modern-china-requires-serious-secret-agent-skills

Travelling in Modern Day China Requires Cold War Era Secret Agent SkillsIf Kenneth G. Lieberthal were anything but a China expert at the Brookings institution, his travelling-in-China security procedures would read like the product of a paranoid mind that watched too many spy movies as a kid:

He leaves his cellphone and laptop at home and instead brings “loaner” devices, which he erases before he leaves the United States and wipes clean the minute he returns. In China, he disables Bluetooth and Wi-Fi, never lets his phone out of his sight and, in meetings, not only turns off his phone but also removes the battery, for fear his microphone could be turned on remotely. He connects to the Internet only through an encrypted, password-protected channel, and copies and pastes his password from a USB thumb drive. He never types in a password directly, because, he said, “the Chinese are very good at installing key-logging software on your laptop.”

Talk about overkill, right? Well he’s not alone. The Times reports that these seemingly paranoid precautions are par for the course for just about anyone with valuable information including government officials, researchers, and even normal businessmen who do business in China.

But what about the rest of us? I may not have any valuable state secrets or research that needs protecting but that doesn’t mean I want the Chinese government snooping on my internetting when I visit my grandparents (especially when the consequences can be so severe). In the past, I’ve relied on a combination of VPNs, TOR, and password-protecting everything I can, but now it sounds like even that isn’t enough. Or maybe it’s totally overkill given my general unimportance in the grand scheme of things. Dear readers, I ask you, how much security is enough when it comes to the average person on vacation? [NY Times]

Image credit: Shutterstock/Rynio Productions

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Sunday, February 12th, 2012 Uncategorized No Comments

Source: http://gizmodo.com/5882888/new-man-in-the-browser-attack-bypasses-banks-two+factor-authentication-systems

New "Man in the Browser" Attack Bypasses Banks' Two-Factor Authentication SystemsThe banking industry often employs two-step security measures—similar to Google Authenticator—as an added layer of protection against password theft and fraud. Unfortunately, those systems have just been rendered moot by a highly-advanced hack.

The attack, know as the Man in the Browser method, works like this. Malicious code is first introduced onto the victim’s computer where it resides in the web browser. It will lay dormant until the victim visits a specific website—in this case, his bank’s secure website. Once the user attempts to log in, the malware activates and runs between the victim and the actual website. Often the malware will request that the victim enter his password or other security pass into an unauthorized field, in order to “train a new security system.” Once that happens, the attacker has full access to the account.

Luckily, the method is only a single-shot attack. That is, the attacker is only able to infiltrate the site once with the user-supplied pass code. But, once in, the attacker can hide records of money transfers, spoof balances and change payment details. “The man in the browser attack is a very focused, very specific, advanced threat, specifically focused against banking,” Daniel Brett, of malware testing lab S21sec, told the BBC.

Since this attack has shown that the two-factor system is no longer a viable defense, the banking industry may have to adopt more advanced fraud-detection methods similar to what secure credit cards. When compared to having your account silently drained, standing in line for the teller suddenly doesn’t seem like that much of a hassle. [BBC News via Technology Review]

Image: jamdesign / Shutterstock

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Tuesday, February 7th, 2012 news No Comments

Dr. Augustine Fou is Digital Consigliere to marketing executives, advising them on digital strategy and Unified Marketing(tm). Dr Fou has over 17 years of in-the-trenches, hands-on experience, which enables him to provide objective, in-depth assessments of their current marketing programs and recommendations for improving business impact and ROI using digital insights.

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