Latest news with #sharingeconomy
National Post
6 days ago
- Business
- National Post
Trouble in Paradise? Consumers Don't Trust Travel Industry to Protect Them From AI-Powered Fraud
Article content New research from Jumio reveals nearly half of global consumers lack confidence in travel industry's ability to protect against identity fraud Article content SUNNYVALE, Calif. — Jumio, the leader in AI-powered identity intelligence anchored in biometric authentication, automation and data-driven insights, today released new findings from its 2025 Online Identity Study. As consumers worldwide set out for summer leisure, digital identity protection may be taking a more prominent spot on the packing checklist, with nearly half of global consumers (44%) lacking confidence in the travel industry's ability to protect them from AI-powered fraud including identity theft and account takeover fraud. This lack of confidence jumped to 55% for Americans. Article content For the sharing economy (including vacation rentals and other travel-focused gig economy services), confidence falls even further, with 60% in the U.S. and 50% globally saying they don't feel adequately protected. Article content Consumers share sensitive personal data in exchange for a simple vacation, notably turning over government-issued IDs like passports and drivers' licenses in order to book and check into flights, reserve accommodations and rental cars, and more. This exchange of data makes consumers vulnerable to fraud during the summer travel season — and they recognize the risk. Article content These sentiments trend alongside broader global distrust in digital spaces, with 69% of respondents saying AI-powered fraud now poses a greater threat to personal security than traditional forms of identity theft. Article content In response to this distrust, consumers worldwide are slightly more willing to invest more time in identity verification on these platforms than in 2024: Article content In 2025, 74% of global consumers said they would willingly spend more time on identity verification when accessing travel and hospitality-related platforms if it improved their security — up from 71% in 2024. Global willingness to spend time verifying identity on sharing economy platforms also stayed high at 70% in 2025, only slightly down from 71% in 2024, but with a subtle shift from 'a lot more time' to 'a little more time.' This suggests increased caution, with a remaining preference for low-friction, visible safeguards. Article content Consumers' increasing willingness to spend time on identity verification for travel-related transactions follows a growing trend in traditionally higher-risk industries. For instance, 80% of consumers globally were willing to spend more time on security for digital platforms supporting banking and financial services. Article content 'Whether it's an evacuation plan or a safe in every hotel room, the travel and hospitality industry know how to build the structures and processes customers need to feel safe. Now customers expect the same level of care for their personal data,' explained Bala Kumar, chief product and technology officer at Jumio. 'But travel and hospitality businesses can't keep layering traditional protections on already complex processes — they need new solutions and technologies to balance convenience with protection, even as AI-powered scams evolve.' Article content Find additional data and insights here. Article content About the Research Article content The Jumio 2025 Online Identity Study surveyed 8,001 adult consumers evenly distributed across the United States, the United Kingdom, Singapore, and Mexico. Censuswide fielded the survey between April 9 and April 24, 2025. Censuswide abides by and employs members of the Market Research Society which is based on the ESOMAR principles and are members of The British Polling Council. Article content About Jumio Article content Jumio helps organizations to know and trust their customers online. From account opening to ongoing monitoring, the Jumio Platform provides AI-powered identity intelligence anchored in biometric authentication, automation and data-driven insights to accurately establish, maintain and reassert trust. Article content Leveraging powerful automated technology including biometric screening, AI/machine learning, liveness detection and no-code orchestration with hundreds of data sources, Jumio helps to fight fraud and financial crime, onboard customers faster and meet regulatory compliance including KYC and AML. Jumio has processed more than 1 billion transactions spanning over 200 countries and territories from real-time web and mobile transactions. Article content Based in Sunnyvale, California, Jumio operates globally with offices and representation in North America, Latin America, Europe, Asia Pacific, and the Middle East and has been the recipient of numerous awards for innovation. Jumio is backed by Centana Growth Partners, Great Hill Partners and Millennium Technology Value Partners. Article content Article content Article content Article content Contacts Article content Media Contacts Article content U.S. Media Contact Article content Article content Haleigh Kent-Bryant Article content Article content Article content 810-516-5486 Article content APAC Media Contact Article content Article content Luke Nazir Article content Article content FINN Partners Article content Article content Article content Article content +65 8139 2504 Article content LATAM Media Contact Article content Article content Lavinia Muñoz Article content Article content Article content Article content
Zawya
23-06-2025
- Business
- Zawya
Omani-Dutch Collaboration: Oman Data Park signs strategic agreement with "Daily Millionaire" to redefine Sharia-Compliant Luxury E-Commerce
Muscat: In a strategic move that reflects its commitment to driving digital transformation and fostering innovation aligned with Islamic principles, Oman Data Park (OPD) has announced a partnership with Rihal (Data Migration and Services) to build and host a groundbreaking digital platform named "Daily Millionaire". The agreement was signed by Mr. Abdullah bin Salem Al Abadi, co-founders of the platform and Mr. Haider Al Maktoumi, co-founders, as part of a joint investment valued at USD 13 million (approximately OMR 5 million) in its first phase. The platform represents a transformative concept in the realm of the sharing economy, combining e-commerce, Sharia-compliant digital raffles, and fractional ownership. It enables users to purchase shares in luxury assets such as cars, villas, and gold and enter transparent digital draws powered by blockchain technology. The platform also includes a digital wallet and a loyalty points system designed in accordance with Islamic finance principles, offering users a fair and empowering digital experience that blends smart purchasing with a spirit of solidarity. Commenting on the announcement, Khalid Al Abri, Chief Financial Officer in Oman Data Park (OPD), stated: "We are proud to lead the development of this platform in collaboration with Rihal. 'Daily Millionaire' reflects our commitment to supporting high-impact digital solutions through secure and sovereign cloud infrastructure. Hosting the platform on our cloud ensures scalability and flexibility, while aligning with Oman's Vision 2040 goals of fostering a knowledge-based economy and an integrated digital society." From his side, Mr. Azzan Al Kindi, Co-founder & Chief Executive Officer of Rihal, added: "This platform is the result of our vision to offer an innovative digital model that combines commerce, investment, and social solidarity meeting the aspirations of younger generations seeking fair and sustainable solutions. We believe that merging technology with values can deliver a unique experience that promotes digital justice and opens doors to broader community engagement through innovation." The platform leverages cutting-edge technologies such as artificial intelligence and advanced analytics to deliver a secure, transparent, and fair experience that enables users to contribute to sustainable social impact. It also aims to support local employment opportunities and attract tech sector investments, through an Omani–Dutch partnership that showcases local talent and works with European partners to deliver globally scalable solutions. The platform is planned to be a global one, including participants from all countries around the world. This strategic roadmap aims to position the platform as a promising tech gateway that bridges Omani innovation with international standards, offering a digital experience rooted in human values and Sharia-compliant frameworks. This partnership exemplifies a powerful synergy between Oman Data Park's smart infrastructure and Rihal's innovative vision, supported by European collaborators. Together, they are shaping a new model of tech entrepreneurship built on ethical foundations and social responsibility paving the way for a more just and sustainable digital future.
Jordan Times
11-05-2025
- Business
- Jordan Times
Sharing economy: A cross-sectoral approach by local governments
In response to the pressures of global inflation, shifting trade dynamics, and the need to support the middle class, Jordan has recognised that innovative economic thinking is no longer optional—it is essential. The country must develop strategies that are rooted in local strengths but not overly dependent on government subsidies or external resources. Central to this approach is the idea of a sharing economy, where municipalities play a key role in organizing and maximizing the use of available assets across sectors, particularly in agriculture. Jordan's economy is small and resource-constrained, and only about 11per cent of the country's land is suitable for agriculture. Much of that land is underutilised, fragmented, or threatened by urban expansion. Yet this challenge presents an opportunity: municipalities can lead efforts to revitalise unused land by coordinating land-sharing initiatives between landowners and farmers, without requiring ownership transfer. This approach fosters local cooperation, increases food production, and directly contributes to the national goals of food security, sustainability, and economic growth. The sharing economy model allows for mutual benefit: landowners provide unused agricultural plots, while farmers or cooperatives offer labour and expertise. While some communities in Jordan have already practiced informal land leasing, these efforts remain scattered and unstructured. Municipalities can formalize these arrangements by creating digital and social platforms that facilitate transparent, cooperative farming ventures based on fair, documented agreements. Local governments have a critical role to play. They can start by assessing public and private land availability, using geographic information systems to determine suitability based on factors like soil type, location, and water access. Municipalities can then launch a user-friendly digital platform, in Arabic and mobile-compatible, where landowners list plots and interested farmers apply. These platforms should also include tools for creating profit-sharing contracts, crop plans, and tracking project outcomes. Alongside this, an interactive social platform, developed in collaboration with NGOs, universities, schools, and cooperatives, can help farmers and landowners communicate, share experiences, and access support. The system must include outreach via SMS or in-person visits for farmers with limited digital literacy, in coordination with the Ministry of Agriculture. These platforms will ensure inclusivity and transparency, especially for marginalized groups such as women, youth, and refugees. Participation should be encouraged through awareness campaigns, workshops, and municipal incentives. Just as importantly, the land-sharing model must incorporate sustainable agricultural practices, such as drip irrigation, organic farming, and water harvesting, to align with Jordan's environmental goals and water scarcity challenges. The success of these programs also depends on well-structured support systems. Municipalities should maintain a public database of available land, ensure the quality of soil and water access, and offer logistical support. They can further boost local economies by helping farmers market their products through urban markets, festivals, or direct links to retailers and export companies such as the Jordan Agri-Food Export Company. Encouraging cooperatives to pool resources for processing facilities, like olive presses and drying units, will also increase the value of local produce. Dispute resolution is another essential component. Legal frameworks must be built into the system, with contracts reviewed by municipal and Ministry of Agriculture legal experts. Disagreements should be resolved through local committees that ensure fairness and accountability. Additionally, municipalities should work to build community trust by involving the public at every stage, from project design to implementation. This can be done through public meetings, open consultations, and consistent communication with all stakeholders. Ultimately, the role of municipalities extends beyond regulation, they are catalysts of local development. By guiding land-sharing initiatives, ensuring inclusivity, resolving disputes, and connecting farmers to markets, local governments can transform the sharing economy into a practical, community-driven solution for Jordan's most pressing challenges. In doing so, they not only promote food security and economic resilience but also foster social cohesion and environmental stewardship. Jordan stands at a critical juncture. With strategic planning, technological integration, and committed local leadership, the sharing economy can serve as a powerful engine of sustainable, cross-sectoral development. The future of inclusive growth lies not in centralised mandates, but in community-led solutions. Page 2
