As the world gradually enters an era of aging populations, the demand for healthcare resources is rapidly increasing. Coupled with labor shortages caused by declining birth rates, this has become a challenge faced by many countries.Founded in 2018, Taiwan-based startup StreamTeck is leveraging millimeter-wave radar technology combined with IoT solutions to develop a non-contact physiological monitoring system for chronic patients and the elderly. The goal is to alleviate the pressure on nursing staff while avoiding the inconvenience and discomfort associated with traditional monitoring devices.The company's first product, SmartCaring T60 Intelligent Remote Care System, has already received Taiwan FDA Class II medical device certification, and its market outlook is promising."The other co-founder of the company and I both experienced situations where elderly family members needed healthcare, which led us to hope for more effective technological solutions," said Ken Hsieh, Co-Founder of StreamTeck. They also heard from the nephrologists that many chronic kidney disease patients undergoing dialysis, which lasts three to four hours, resist or refuse to use traditional wired physiological monitoring devices, due to discomfort or inconvenience.Additionally, nursing staff shortages made it difficult to respond promptly to patients' emergencies. All these were the driving forces behind the founding of StreamTeck.Based on 60GHz MmWave and Proprietary AI AlgorithmsStreamTeck's solution is based on high-precision 60GHz millimeter-wave radar and infrared sensors, including the hardware, proprietary AI algorithms, and applications installed on PC or mobile devices.A wireless monitoring device installed above the hospital bed collects data on vital signs, including the patient's breathing, heart rate, and body temperature. The data is transmitted via Wi-Fi and processed by StreamTeck's AI algorithms. If any data anomaly or incidents, such as a patient fall, are detected, the system immediately triggers an alert, allowing medical staff to respond to emergencies in real-time.Hsieh said that compared to traditional monitoring devices, the non-contact monitoring method significantly enhances patients' comfort, especially in environments like dialysis centers, isolation wards, or palliative care units, where minimizing personnel contact is crucial. At the same time, this system greatly reduces the burden on medical staff.StreamTeck possesses strong technical capabilities and can provide customized solutions to meet various needs, whether in hardware or software development, terminal system deployment, or AI model optimization.TFDA Certified and Successfully Entered HealthcareHsieh previously worked in the electronics industry, where servers, laptops, and consumer devices could be mass-produced as soon as they passed the testing process. However, the medical field requires a strict certification process for product specifications and quality, it's a significant challenge for startups.Any medical device must meet stringent standards on both hardware and software, and the manufacturing process also has to get an official certification. Additionally, extensive clinical trials are required in collaboration with hospitals. For a startup team with no medical background, this poses a completely new challenge.With confidence in their technology, StreamTeck persistently submitted testing applications and, in the meantime actively worked closely with medical institutions. After a challenging process spanning a year and a half, they became the first company in Taiwan to receive TFDA certification for mmWave technology, successfully entering the medical market.Enhancing Tech Strength and Expanding Globally with PartnersObtaining the official certification of medical devices is just the first step for StreamTeck. Hsieh said that the company will continue to enhance its solutions, aiming for non-contact blood pressure monitoring and more accurate patient posture assessment.StreamTeck's system has been implemented in over ten large teaching hospitals and public regional hospitals in Taiwan, such as Tri-Service General Hospital, Mackay Memorial Hospital, and Taipei City Hospital. Additionally, through collaboration with the Industrial Technology Research Institute, the SmartCaring Intelligent Remote Care System is being introduced into long-term care facilities, with plans to expand services into the home healthcare market.By collaborating with ecosystem partners like Intel to participate in global smart healthcare exhibitions actively, StreamTeck is extending its reach into international markets. The company has established a presence in the United States, and its products are currently undergoing FDA certification.Additionally, medical institutions in Southeast Asia have expressed strong interest in the company's system. Looking ahead, StreamTeck is confident in its plans to gradually expand its market footprint and hopes its technology will benefit a wider user.StreamTeck's SmartCaring T60 Intelligent Remote Care System

Valtec AI, a tech startup co-founded by John Keh, has recently gained significant attention for its innovative use of artificial intelligence (AI) and drones in the fishing industry. The company's technological approach targets a market traditionally underserved by modern tech solutions—commercial fishing vessels.Keh graduated from UC Berkeley and later joined the U.S. Air Force, where he gained extensive experience in geospatial analysis and drone applications. During his service, he was stationed in South Korea and the Middle East, completing over 250 missions. After leaving the military, he transitioned into the startup world. Over the past decade, he has had successful experiences as a serial entrepreneur. During the pandemic, he found his way back to Taiwan with his family and, by chance, shifted his military drone operations expertise toward fishing applications.Game-Changing Solution for Commercial FishingCommercial fishing is a high-stakes, high-reward industry where efficiency in locating and capturing fish can mean millions of dollars in revenue per vessel. Traditionally, fishing vessels use helicopters to locate schools of tuna within a 100-kilometer radius. "The helicopters are very high maintenance, very cumbersome to take care of, and it takes up a lot of space. Not only are drones cheaper, but with multiple drones, you can now search 3 to 5 times the area, reducing your time to catch, thereby saving a lot more gas from the ship," Keh said.Valtec AI's drones are particularly tailored for purse-seine fishing vessels, a type of ship that targets tuna schools. The company's core technology allows for multi-drone command and control, as well as AI-powered object identification. Their system can operate several drones simultaneously, collecting real-time data about fish locations, estimated sizes, and even environmental factors like the current direction, which can tear fishing nets. By eliminating the need for helicopters, Valtec AI's drones reduce operational costs and risks while improving search efficiency.In terms of competition, Valtec AI's primary rivals are helicopter companies, but the company's technology is likened to the replacement of horses by cars. The advantages in cost, safety, and efficiency make drones a clear disruptor in the market. Moreover, as the fishing industry deals in a commodity (tuna), any tool that improves yield and efficiency is likely to be rapidly adopted across the board, making Valtec AI a strong player in the space.A Service-Based Business ModelValtec AI operates on a service-based business model, providing a "system as a service." This includes not only the drones and software but also ground control stations and operators. The company's revenue stream is built on offering an all-in-one service, reducing the burden on fishing vessels to maintain and operate their drone systems independently."We buy the drones from the hardware providers, then provide the drones to the fishing vessels, to our customers, and provide the software, provide that ground control station that handles the whole system. We even provide an operator," Keh said. "We're creating a new profession. Originally there were no drone operators on fishing vessels or boats. Now we will provide the trained personnel to be able to operate our system and the multi-drone capability, and that way the customer does not have to worry about if this drone breaks or whatever."Valtec AI's drones have already been deployed to gather data from fishing vessels in Taiwan and the Philippines, with plans to expand globally. Keh emphasizes the potential to scale this system as more fishing companies see the clear cost and time savings from drone adoption. By cutting down the time required at sea from one month to two weeks, Valtec AI's system can significantly boost revenue for fishing companies, turning what is typically a slow, labor-intensive process into a streamlined operation.Future Expansion and Strategic FocusWhile the current focus is on the fishing industry, Keh sees future applications in other maritime industries, such as surveillance for shipping. However, the company is cautious about entering more complex sectors like defense, where factors such as weight limitations and operational range present new challenges for drone technology.In the short term, Valtec AI aims to perfect its solution for the fishing industry, expanding its customer base and proving its value proposition. The company recently closed a $2 million seed round, with investments facilitated through its close connections with Taiwan's startup ecosystem, including investment from Spark Labs Taiwan. The funds will help Valtec AI deploy its technology on 40 vessels of current customers, focusing on proving the system's effectiveness in reducing fishing time and increasing revenue for them.Valtec AI revolutionizes commercial fishing with drone and AI technologies

Taiwan's e-commerce platforms have enjoyed leaping revenue growth since the COVID-19 outbreak as consumers increasingly shop online instead of going to brick-and-mortar stores. According to the Ministry of Economic Affairs, online retail sales reached NT$503.5 billion in 2023, of which NT$284.2 billion, or 56% was generated by pure-play e-commerce companies. To optimize the shopper experience, e-commerce operators have begun to use AI to analyze customers' purchase history so as to make recommendations when they browse the shopping site thereby increasing the likelihood of a transaction.According to Rosetta.ai CEO Daniel Huang, e-commerce operators connect customers with products using tracking and recommender systems to predict buyer behavior. These systems growingly adopt AI to more accurately capture consumer preferences as AI technologies continue to advance. Rosetta.ai's solution is unique in that it matches the characteristics of both people and products. On top of that, it has the capability to understand images and texts, making it especially suitable for fashion e-commerce platforms. It is being used by multiple e-commerce companies.More than 3,000 use cases with no need for a single line of codeFounded in 2016, Rosetta.ai started out with a focus on developing tracking and recommender systems for e-commerce platforms. As it builds up its capability in AI and machine learning, Rosetta.ai has created a unique merchandise tagging database for fashion e-commerce companies that can be used throughout every stage of the shopping journey to realize automated marketing, including precisely redirecting target traffic, enabling diverse personalized interactions and increasing the repurchase rate.In line with the no code or low code trend, the use of Rosetta.ai's recommender system requires no coding. With only simple drag-and-drop operations, users can have personalized recommendations displayed anywhere on the shopping site, whether it's the home page, a merchandise page, a category page, or the shopping cart page. Seven recommendation scenarios are available to significantly increase the hit rate. Since its establishment, Rosetta.ai has helped more than 3,000 e-commerce brands grow their revenue.Huang mentioned that fashion e-commerce companies often use a large quantity of images to show how well clothes and accessories go together. Cosmetics retailers do the same to demonstrate how good their products would make consumers look. Traditional recommender systems are generally not capable of performing in-depth analysis and often tend to over-recommend similar products. For example, the system will keep recommending black clothing to a shopper who has purchased a black item. Rosetta.ai, on the other hand, recommends items that go with what the shopper has bought based on his or her purchase behavior. For example, it will recommend pants, skirts, handbags, or hats that go with the black top the shopper has bought. Its unique deep learning-based image analysis has attracted many fashion e-commerce companies.Using AI-powered precision recommendation algorithms, Rosetta Engage gains insights into every shopping journey touchpoint and offers intelligent recommendations through three interactive experiences. By accurately identifying moments of interaction between shoppers and website products, it is able to precisely recommend items shoppers love and want to buy, thereby raising the conversion rate.Expanding into Japan, Rosetta.ai's globalization efforts are generating impressive resultsLooking back at his entrepreneurship journey, Huang said that Taiwan's startup environment was not yet mature when he founded Rosetta.ai. There were no accelerators to offer guidance and limited sources of funding. Luckily, Rosetta.ai was subsidized by the Ministry of Economic Affairs' Small Business Innovation Research (SBIR) program. Taiwan Tech Arena (TTA) also helped Rosetta.ai plan marketing strategies and secure funding. Rosetta.ai now has a team working in Japan to strengthen collaborations with local fashion e-commerce companies. It also plans to incorporate a Japan-based subsidiary sometime between late 2024 and early 2025 as part of its all-out efforts to foray into Japan.Huang noted that apart from the recommender system, Rosetta.ai has launched Rosetta Traffic, a whole new ad model that leverages AI to create a personalized shopping environment and drive high-spending consumers to the shopping site. It also enables product exposure on complementary brands' websites to increase traffic and improve the average order value. Rosetta.ai expects Rosetta Traffic to become its growth engine in the future.Shopping journey analysis increases traffic and revenue for small- and medium-sized businessesPhoto: Rosetta.ai

During the 25th Taiwan Circuit Board Industry International Exhibition 2024 at the Taipei Nangang Exhibition Center from 23-25 October 2024, we had the pleasure of meeting and interviewing Dr. John T.C. Lee, President and CEO of MKS Instruments, a global provider of enabling technologies that are transforming the world's semiconductor, advanced packaging and industrial markets.Today, MKS Instruments combines leading capabilities in lasers, optics, motion, process chemistry, and equipment. The company has recently installed the latest equipment and process technology at its local APAC Technology Centres to drive the production of next-generation packaging substrates and offer customers and OEMs faster development cycles for new products and materials, enabling high-end SAP technology requiring <=5/5µm lines and spaces.John T.C. Lee announced plans to build a new Super Centre facility in Penang, Malaysia to support wafer fabrication equipment production in the region and globally. The company also plans to open a TechCentre and manufacturing facility in Samut Prakan, near Bangkok, Thailand to serve the growing printed circuit board and package substrate industries in Southeast Asia, particularly Thailand.

Spun off from a laboratory at Inha University in South Korea, PhotoniSol, a dynamic startup, is leading the charge in silicon photonic integrated devices. The company focuses on commercializing a groundbreaking optical isolator chip that promises to reshape the silicon photonics landscape.Silicon photonics, a technology designed to overcome the bandwidth limitations of traditional electrical I/O systems, has become vital for the development of high-speed optical interconnects, which are essential for AI computing and next-generation high-performance computing systems. PhotoniSol's innovative optical isolator chip addresses a long-standing technical challenge, potentially revolutionizing the field.A Rising Market Star Born from Academic ResearchPhotoniSol was founded in July 2020 by Kyong Hon Kim, who now is the company's CEO. During his early technical career period, Kim was a researcher at NASA Langley Research Center developing spaceborne lasers for solar-power transformers and LiDAR applications, and then a technical member and director at a research institute, ETRI, Korea developing optical communication devices for 14 years. He also served as one of the key members of a government planning committee for photonic technology R&D projects. About a decade ago, Kim taught and researched silicon photonics at Inha University.According to Kim, optical isolators are critical components that protect laser sources from destabilizing back-reflections, which are essential for applications like data centers, LiDAR systems, and photonic biosensors. With PhotoniSol, he aims to bring his decade-long research to the market with products that optimize these applications.Breaking Barriers to Commercialization"The development of optical isolator chip technology has been a focus of global research groups for decades," Kim noted. "While many significant technical papers have been published, none of the advancements have led to commercially viable devices."PhotoniSol's approach is unique: it utilizes conventional CMOS fabrication lines to mass-produce optical isolator chips, enabling the hybrid integration of silicon photonic devices with existing silicon IC technologies. To achieve this, PhotoniSol has partnered with Singapore's Advanced Micro Foundry (AMF), a dedicated silicon photonics foundry, for the trial production of its chips.The startup plans to release the world's first commercial-grade optical isolator chips within the next year, a move expected to drive market growth for silicon photonic devices and accelerate the development of photonic integrated circuits.Aiming to Replace Existing Market Solutions"We are working to refine the optical insertion loss characteristics of our isolator chips and expect to have market-ready specifications soon," Kim explained. Once finalized, PhotoniSol plans to distribute samples to potential customers for technology licensing or sales.The company's optical isolator chips are designed to replace the bulkier isolators currently used in optical transceiver applications. "Intel and Cisco hold significant market shares in optical transceiver modules for data center equipment," Kim said, "and our goal is to win their support as we bring these chips to market."The development of PhotoniSol's optical isolator chips comes at a time when hyperscale AI computers, data centers, and high-performance computing systems are pushing the limits of current interconnect technologies. Optical isolators, traditionally bulky, need to be miniaturized to enable further advances in photonic integrated circuits.PhotoniSol is on track to release the world's first commercial-grade optical isolator chips, using fabrication methods compatible with standard CMOS processes. This compatibility allows for the hybrid integration of photonic and electronic devices, promising scalability in production and cost-efficiency.Applications Across Multiple IndustriesPhotoniSol's optical isolator chip has numerous applications across several industries. In data centers, these chips are crucial for optical transceivers, replacing bulkier counterparts and improving system efficiency. Furthermore, its technology could enable advances in LiDAR systems, used in autonomous vehicles and high-speed optical scanners, as well as in biosensing applications that demand highly sensitive and stable laser sources.By adopting a multidisciplinary approach, that encompasses device physics, semiconductor fabrication technology, material science, and engineering, PhotoniSol has made significant strides in refining its optical isolator chips to meet market standards. The ability to mass-produce optical isolator chips using existing semiconductor manufacturing infrastructure gives the company a competitive advantage in a rapidly expanding market.With strong support from South Korea's deep tech startup programs, PhotoniSol has successfully transitioned from academic research to commercialization. Kim expressed confidence in entering the global market and is eager to collaborate with Taiwan's industry players who share the same optimism for silicon photonics.PhotoniSol optical isolator chip

PGC (Progate Group Corporation) has recently teamed up with North American strategic allies to meet the growing demand for advanced process technologies in AI, high-performance computing (HPC), and advanced driver-assistance systems (ADAS). By leveraging its partnerships with TSMC and ASE in advanced nodes and advanced packaging, PGC has enhanced its ASIC turnkey service for 7nm/6nm and below, as well as TSMC CoWoS solutions.Since joining Synopsys IP OEM Program in August this year, PGC has significantly expanded its high-speed interface IP service capabilities, offering hundreds of high-quality IP solutions for advanced processes, including die-to-die, Ethernet, PCIe, MIPI, DDR, and USB. These efficient and low-risk solutions help customers shorten time-to-market while optimizing product performance, power, and area (PPA).In addition to developments in advancing process technologies, PGC is assessing Synopsys AI-driven EDA solutions DSO.ai, which use AI technology to explore the design space for optimal PPA. The company also plans to expand its R&D design team to enhance the efficiency and quality of APR physical design service on advanced nodes. Moreover, PGC has actively participated in global semiconductor events such as TSMC OIP Ecosystem Forums in North America and Hsinchu, showcasing its technical strength and deepening industry collaborations.With over 30 years of experience in ASIC design service, PGC has successfully collaborated with customers in Taiwan, Japan, and Israel. To meet the diverse and small-volume demands, PGC offers highly flexible and competitive ASIC Turnkey services in terms of both pricing and quantity. By strengthening its relationships with regional partners, PGC aims to deliver real-time support and cost-effective solutions to its customers.

Nashua, New Hampshire/Commack, New York – Brevan Electronics, a leading global distributor of electronic components, today announced it completed the acquisition of Falcon Electronics, a leading distributor of high-reliability semiconductors and electronic components focused on the Aerospace & Defense (A&D) industries. The transaction marks a significant milestone in the evolution of Brevan Electronics, combining the strengths and expertise of both companies to create a powerhouse in electronic components distribution."We are thrilled to welcome the Falcon Electronics team into the Brevan family," said Aaron Dufoe, President of Brevan Electronics. "Falcon's reputation for excellence in the A&D vertical markets, coupled with its deep industry expertise and trusted relationships, will be invaluable as we continue to expand our reach and capabilities. This acquisition strongly supports our strategic vision to drive innovation and growth across all our markets."With a shared focus on high-performance solutions and customer satisfaction, the combination of Falcon and Brevan strengthens both companies' positions in the electronics component distribution market. Falcon Electronics, which has long been known for its strong relationships with top-tier suppliers and customers, will continue to operate under its established brand and leadership. The company will maintain its headquarters in Commack, New York, with additional offices in Massachusetts and Arizona, ensuring a seamless transition for customers and partners.President of Falcon Electronics, Brian Diaz expressed enthusiasm about the merger, stating, "This acquisition represents a natural next step in our journey, allowing us to expand our capabilities and better serve our customers with an even broader array of products and solutions. Brevan's commitment to quality and customer service aligns perfectly with our values, and we look forward to collaborating to bring even greater value to our customers."As part of the transition, both companies are committed to ensuring minimal disruption to their operations and customer relationships. The combined team will continue to provide the same high level of service and support that both Brevan and Falcon's customers have come to expect. The merger will also bring new opportunities for innovation and expanded product offerings to the combined customer base.About Falcon ElectronicsFounded in 1994, Falcon Electronics is a leader in the distribution of high-reliability complex electronic components to the Aerospace & Defense industries. Falcon's customers require complex electronic components capable of operating in extreme temperatures, high shock/vibration, dust/humidity, and various levels of radiation (LEO/GEO). Focused on quality and service, Falcon is ISO 9001/AS9120 certified and maintains long-standing agreements with major customers in the A&D industries. The keys to Falcon's success have been to provide exemplary service always focusing on quality (DPPM), delivery (OTD) and customer compliance (FARs/DFARs, quality flow downs). Falcon is headquartered in Commack, NY, with additional offices in Massachusetts and Arizona.For more information, visit www.falconelec.comAbout Brevan ElectronicsFor over 39 years, Brevan Electronics has been a trusted partner and supplier for OEMs and customers worldwide. Brevan is a diverse supplier committed to quality and world-class customer service. Access to global inventory, innovative products, and powerful brands has made Brevan one of the fastest-growing authorized distributors. Brevan Electronics is a privately held company based in Nashua, NH.For more information, visit www.brevan.comMedia Contact: Cristina Adair | O: (603) 865-1916, cristina.adair@brevan.com

Continuing advances in AI technologies are driving a rapid expansion of AI applications into areas such as smart factories and smart cities. Coupled with the widespread popularity of 4G and 5G communication, GPU performance boosts, and increasing data processing speeds, these developments are spurring burgeoning edge AI market growth. According to GII, the global edge AI hardware market was already valued at US$2.62 billion and is projected to grow at a CAGR of 19.85% over the next five years to US$7.52 billion.According to eNeural Chairman Jiun-In Guo, although edge AI applications are rapidly expanding, device developers and system solution providers face the challenge of high costs. Without small-scale and high-precision AI models, edge devices need to have GPUs with sufficient computing power. However, not only do GPUs come with high price tags in the range of hundreds of U.S. dollars but they also have high power consumption and thermal management challenges, making the miniaturization of edge devices very difficult. This leads to increased development costs and more importantly, it curbs the growth of edge AI applications. As such, having small-scale and high-precision AI models is critical to developers who strive to keep edge AI device cost and footprint under control.The market already has a slew of neural-network processing units (NPU) supporting AI tasks, for example, Sunplus C3V, iCatch V37/V57, Ambarella CV2, Realtek AMB82 MINI (RTL8735B), NXP IMX8M+ and Kneron KL series. In view of the market trend, eNeural is dedicated to building small and precise AI models to support customer needs. Its solutions have been adopted by multiple strategic partners.eNeural builds AI models specifically for NPU platforms, offering unique customization servicesFounded in March 2022, eNeural was a spin-off of Intelligent Vision System Lab, National Yang-Ming Chiao Tung University (NYCU). The team has more than a decade of experience in AI vision. Its independently developed AI modeling tool, AI-Craft, accelerates the time-to-market of AI models, bringing AI application products to market six times faster while boosting the precision level. Incorporating fast labeling and model compression techniques, AI-Craft enables partners to develop edge AI devices featuring a lightweight, small footprint, low power consumption, high performance, and high precision.Guo emphasized that AI models running on NPU platforms on the market are generally developed through open-source projects. They are available in standard versions or manually scaled-down solutions with limited optimization for NPUs. AI-Craft, on the other hand, enables customizable optimizations for various NPUs. Not only can AI-Craft maintain a certain level of recognition precision, but it also makes the AI model up to 90% smaller (depending on the application and requirement). Furthermore, in the case that the precision drops after the AI model is slimmed down, AI-Craft can be used for re-training to raise the precision. This allows eNeural partners to offer a variety of hardware devices suited to different market needs based on only one AI model without the hassle of AI model training and subsequent optimization and scale-down efforts.eNeural participation at CES caught market attention, successfully expanding AI model applicationsIn collaboration with strategic partners, eNeural's AI-Craft is being used in advanced driver assistance systems (ADAS), mobile robotics, and AIoT. A leading Taiwan-based manufacturer integrated sensors and cameras on top of AI-Craft, which is the smart core, and introduced QBOX, a vision-based commercial vehicle assistance solution that combines a lane departure warning system (LDWS), forward collision warning system (FCWS), blind spot detection system and blind spot information system (BSD & BSIS) and driver monitoring system (DMS). Apart from this, eNeural is also in talks with potential partners in the healthcare and AIoT sectors while planning to further expand the application scope of AI-Craft.Guo pointed out that the establishment of eNeural was a result of a program initiated by former Minister of Science and Technology Liang-gee Chen to create four AI innovation and research centers. Under the guidance of the Center of Industry Accelerator and Patent Strategy (IAPS), NYCU, and Taiwan Tech Arena (TTA), eNeural participated at CES 2019 and CES 2023, which boosted the startup's visibility. Taiwan's startup ecosystem has made great strides. With the wealth of opportunities and resources made available by incubators, startups today grow at a faster pace.Aside from AI-Craft, eNeural has obtained NPU certifications. Going forward, it is able to provide hardware-software integrated AI solutions suited to customer needs, helping them capture tremendous edge AI market opportunities.The eNeural teamPhoto: eNeuraleNeural's AI-Craft for ADAS and smart cockpit applicationsPhoto: eNeural

The Consumer Financial Protection Bureau, the CFPB, has announced that it will expand its oversight regulations to include non-banking firms that offer payments and wallet apps. The expanded regulations will see the CFPB overseeing any firm that oversees more than 50 million transactions a year and will include the likes of Apple Pay, Google Pay, and Venmo, and may include Asian payment solution providers like WeChat Pay if they offer payment solutions in the US.Digital Payment PopularityAccording to the CFPB, the most popular apps that will be covered by the expansion, account for 13 billion payments a year. Digital payment apps have become increasingly popular with the likes of peer-to-peer apps like Venmo and the greater reach of digital payment solutions like Google Pay.What's more, using Apple Pay means that consumers do not need to submit bank details so it offers extra security and privacy. And, because of the increasing number of gaming platforms that accept Apple Pay, players are not restricted in game type or other features. They can fund their gaming accounts through their iPhones or Macs alike to enjoy smooth gaming across different devices. Digital wallets have become popular with iGamers, as well. Apple Pay casino sites now can also offer instant withdrawals providing a handy gaming payment solution for every iPhone user in the world being able to access Apple Pay and the relevant gaming websites.Digital PaymentsDigital payments have become an increasingly popular method of payment, replacing cash and traditional payments in a lot of instances. They are convenient, typically using a cell phone and its security settings to authorize access.Digital payments are also more secure because they add an extra layer of access, and they provide greater privacy because users don't need to submit their financial details to e-commerce, gaming, casino, or other websites.Digital WalletsIn the past few years, digital payment options have increased considerably for consumers. Joining the likes of PayPal, which was one of the first digital wallets on the market, we have seen mobile-based services like Google Pay and Apple Pay.These are prevalent because they are installed, by default, on the majority of modern smartphones and they enable physical and online payments with a scan of the fingerprint.Crypto WalletsEven more recently, cryptocurrency wallets have also entered the fray. Popular options in the Asian market are eToro Nexo and Zengo Wallet. These wallets connect to blockchain networks and enable payment using Bitcoin, Ether, Doge, and other cryptocurrencies.They require even less personal information to be transmitted to send payments and do not currently fall under the federal regulations of a lot of countries.Super AppsA type of digital payment method popular in Asia, and becoming increasingly popular in the US, is that of the super-app. WeChat, for example, is not only a social media and messaging app but also includes payments and other financial features.These likely fall under the same category as digital wallets, and if they reach the 50 million annual transfers set out by the CFPB, the group will at least attempt to enforce regulations.Peer-To-Peer PaymentsPeer-to-peer payment wallets like Venmo will also fall under the control of the group if they meet the transactional requirements.These wallets enable users to send payments to other users with just their mobile phone or username details. They are popular for sending payments between groups of friends and for some small commercial transactions.Other Digital Payment SystemsOther forms of digital payment may fall under the remit of the expanded guidelines. Mobile payments, for example, are fulfilled by cell phone companies, which are non-bank institutions and are popular for paying subscription fees and for making small payments. Other FinTech and DeFi solutions may also be covered, too.Which Companies Will Be Affected?According to an official release by the CFPB, seven new companies would currently fall under the expanded remit. There are likely to be Google Pay, Apple Pay, and Amazon, as well as PayPal, Block, Venmo, and Zelle.The release states that the changes would give them the same authority they have over banks and other financial institutions. Specifically, they would be able to take proactive action to ensure they meet regulations which would help ensure they meet legal requirements. The group will be able to ask for records from the companies and even interview staff to ensure compliance with all laws.Bank BackingNone of the groups mentioned have commented on the move yet, but banks and financial institutions are believed to be happy with the decision. Many have been complaining that these wallets and digital payments essentially offer banking features but the companies behind them do not have to face the same scrutiny. It is unlikely, however, that any of the aforementioned providers will want to leave the potentially very lucrative market.Consumer BenefitsThe move has come a month after the CFPB ordered tech giants to hand over data relating to business practices for large tech companies involved in handling payments. The order was made at the end of October and the group said it would enable them to ensure tech companies did not overstep the market when it came to factors like data surveillance and access restrictions. At the time, the group said that it was also asking for the same information from Chinese tech companies Alipay and WeChat Pay.The CFPB argues that recent moves will help enhance consumer protection by ensuring that payment providers offer robust systems and meet specific data handling and security requirements.While making the request, the CFPB said that the rapid expansion and change within the digital payment market posed risks to users. They pointed to the likes of Apple Pay and Google Pay as having become the de facto payment method of choice for many consumers, while Alipay and WeChat Pay were looking to expand their reach further into the US market.These super apps were also singled out for the fact that they also incorporate social media, chat, and other features and that this could lead to greater security risks for consumers.Data Harvesting And Access RestrictionsThe release pointed to possible data harvesting that enabled tech companies to unlawfully use collected data for behavioral targeting or they may even be selling data to brokers. Access restrictions could also be hampering consumer choice as retailers are effectively forced to accept the biggest and most popular payment networks which, in turn, forces consumers to opt for these payment systems over others.

Smartphones becoming an indispensable digital tool in our daily lives is driving flourishing developments of social media platforms and the influencer economy. This has changed the way businesses advertise. They have primarily been running ads with Google and Meta but are now increasingly working with influencers as a way to boost their revenue at physical stores. However, not every business can afford the cost of partnerships and agencies with top influencers. As such, the influencer economy transition has happened to shift to phase two wherein some businesses choose to partner with micro-influencers with a smaller follower count but higher engagement. Nevertheless, businesses looking to leverage micro-influencers might still find the back-and-forth communication tedious and time-consuming with traditional influencer matchmaking platforms. This remains a challenge that businesses attempting to harness the power of influencer marketing need to overcome.Tellit Now CEO Kai-Hsiang Yang commented that the back-and-forth communication with either top influencers or micro-influencers about the upfront cost, time, and campaign details can be a real hassle. Worse yet, something unexpected such as the influencer not showing up onsite could still happen. There are plenty of platforms on the market that manage micro-influencers, but they are unable to help eliminate all these problems. Tellit Now provides an automated software as a service (SaaS) that matches influencers with businesses in real-time with LBS. It simplifies the online marketing process and creates a win-win situation for both businesses and influencers, leading the influencer economy into phase three.Map-based exploration shortens the preparation processTo address the pain points of influencer marketing, Tellit Now has launched its unique SaaS platform for innovative social media word-of-mouth marketing that effectively connects businesses and content creators. It helps physical stores or brands leverage influential content creators to increase their visibility and revenue. Integrating all services, the Tellit Now platform enables one-stop management of everything on users' mobile phones, for example, allowing businesses to generate push notifications to advertise their needs, search for nearby content creators and process online payments.Yang explained that Tellit Now uses map-based exploration and works in connection with various social media such as Instagram. Using the map mode on the Tellit Now app, content creators can check in real-time whether a business in the vicinity needs influencer marketing and get information on the campaign budget and requirements. The content creator, if eligible, can choose to participate in the campaign. There is no need for cumbersome communication and confirmation. For businesses, all they have to do is enter their marketing budget and campaign details which will be broadcasted in the app. The system will allow interested influencers to browse this information. Compared to the traditional approach, Tellit Now significantly shortens the time it takes to kickstart a social media marketing campaign.Lowering the threshold for digital marketing and harnessing the power of influencersBefore founding Tellit Now, Yang worked for another startup that was based in Taiwan Tech Arena (TTA) so he was well aware of the startup ecosystem in Taiwan as well as all the services made available by TTA and accelerators. When establishing Tellit Now, he received help and guidance from Foodland Venture and food service industry consultants. He was also introduced to a number of venture capital firms. These have greatly benefitted Tellit Now's development. The startup is also considering applying for subsidies from the National Development Fund and the Ministry of Economic Affairs' Small Business Innovation Research (SBIR) program.According to Yang, although the influencer economy has been around for many years, many businesses lack marketing know-how and only care about views and ratings. With Tellit Now, not only do businesses have an easy-to-use digital marketing tool to increase their visibility, but they can also effectively shorten the time it takes to engage with influencers. Going forward, Tellit Now plans to incorporate CRM functionality and offer traffic analysis to further help businesses leverage digital tools to drive revenue growth.Tellit Now enables physical stores to easily start a marketing campaignPhoto: Tellit Now