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Thursday, September 23, 2021

Five Benefits of Online Payments

 

Due to factors such as the health emergency, people globally have drastically reduced the use of cash, according to a study carried out in 2020. Likewise, in the first months of 2021, consumers made up to five times more transactions than last year through QR Codes and online transactions.

In this context, many small and medium-sized companies, which have been affected by the pandemic, have found in digital payments a solution and support for the revitalization of their businesses. The acceptance of these new payment methods has served as a stimulus to the complexities of the environment and has allowed them to find an effective channel to maintain sales. It is undoubtedly a trend that will continue thanks to the fact that this technology brings great benefits for businesses. Below, FinTech Payment Specialist Firoz Patel, lists some of those benefits.

Wednesday, September 1, 2021

5G For The Management of Public Spaces in Cities

 Today, cities are home to more than a half of the planet's inhabitants. Specifically, 55% of them. But, the number is increasing. By 2050, according to a projection made by the UN, 68% of the world's population will live in urban areas. Those already living between asphalt and concrete will be joined by another 2.5 billion people, many of them in Asia and Africa. Urban public spaces, therefore, will become increasingly important.


Firoz Patel, a Fintech specialist, indicates that the benefits of 5G will be highlighted in the necessary management of public spaces. The new telecommunications network makes it possible to automate some tasks and increase the efficiency of some urban processes. You just have to think about the urban furniture of the streets and apply technology.

According to Patel, streetlights, traffic lights and even wastebaskets can be reinforced with sensors and a connection to the network. This is nothing other than the Internet of Things, which in a massive way is only possible with 5G. The advantage of the Internet of Things is the possibility that both the lighting and the irrigation of parks or the operation of public transport are adapted to the needs of each area and each moment.



How 5G will improve public spaces

“Over the last few years, in the midst of searching for applications for 5G connectivity, it has been theorized about its use in multiple contexts,” says Firoz Patel. “Applications on urban terrain are among the most studied. The Accenture Strategy report ‘Smart Cities: How 5G Can Help Municipalities Become Vibrant Smart Cities’ points out some of them”.

The field of street lighting is part of these public spaces where 5G can be decisive. Thanks to technology, an intelligent and automated management of electricity consumption could be achieved. The projects that have been launched for now contemplate the use of sensors to regulate the light level according to the influx of that area.

As Patel further shares, irrigation of parks and gardens is also another area that can benefit from 5G. These are public spaces that require constant attention. In the hottest time of the year they need to be watered every day if the region is sunny and with high temperatures. But, not every week is the same. And, if it has rained or coincides a streak of several days with moderate temperatures, without sun, it is possible to save water. Thanks to humidity sensors, which can assess the state of the soil and the air, as well as to measure the temperature, irrigation can be regulated automatically. In this way, the management of these public spaces will be more efficient.


Transport in the city

Firoz Patel (learn more about him on Speakerhub) that the new connectivity will transform government operations and public services. One of them will be public transport in cities. A precise control of the occupation that a bus has or of the people who are in the stops will allow to regulate the frequencies. Even dynamic routes can be generated in relation to the demand for destinations and according to the popularity of the stops at all times.

Although, Patel specifies that one of the biggest advantages will be in the reduction of traffic. Within urban transport, traffic on the roads is one of the great pending issues in populous cities. With 5G, it would be possible to create a more efficient management system. Thanks to the installation of sensors in traffic lights and hot spots on the streets, traffic could be regulated so that fewer bottlenecks will be generated.

The introduction of self-driving cars, for which 5G is required, will be another level in efficient traffic management. In this way, the vehicles will be able to talk to each other.

Strategic Vision with a Human Touch: Business and Life Advice from Firoz Patel

Firoz Patel’s journey from working in his father’s grocery store to becoming a pioneering force in the global payments industry is a story o...