eSIM – Tech | Business | Economy https://techeconomy.ng Tech | Business | Economy Fri, 12 Sep 2025 14:58:20 +0000 en-GB hourly 1 https://wordpress.org/?v=7.0 https://techeconomy.ng/wp-content/uploads/2025/06/cropped-256Px-32x32.png eSIM – Tech | Business | Economy https://techeconomy.ng 32 32 Apple Delays iPhone Air Launch in China Over eSIM Approval https://techeconomy.ng/apple-iphone-air-china-delay-esim/ https://techeconomy.ng/apple-iphone-air-china-delay-esim/#comments Fri, 12 Sep 2025 14:58:20 +0000 https://techeconomy.ng/?p=167039 Apple has launched its latest iPhone 17 series in most countries, but Chinese customers will have to wait for the eSIM-only iPhone Air as the company works through local regulatory approvals for its embedded SIM technology.

Apple’s Chinese website now states that release information for the iPhone Air will be “updated later,” pointing to the hold-up. All three state-owned carriers, China Mobile, China Telecom, and China Unicom, plan to support the phone’s eSIM, but final regulatory clearance is still pending.

A post by China Mobile on Weibo confirmed the network has enabled eSIM services for mobile phones, though no launch date was given. Meanwhile, China Telecom briefly announced a September 19 launch on RedNote before removing the post, highlighting ongoing regulatory uncertainty.

Apple told local media it is working with authorities to bring the device to China “as soon as possible.”

The iPhone Air, at just 5.6mm, is Apple’s thinnest phone ever and entirely removes the physical SIM tray. While eSIM adoption is common in markets such as the U.S., Japan, and Gulf countries, China has traditionally been cautious, noting security and identity verification concerns. 

Previously, Apple partnered only with China Unicom, requiring in-store manual activation. Now, the company has agreements with all three major carriers, but each awaits final government approval from the Ministry of Industry and Information Technology (MIIT), which oversees telecom infrastructure and data security.

China is Apple’s second-largest market, and any postponement in flagship models could affect quarterly performance. IDC estimates the iPhone Air will account for 5–7% of global shipments of Apple’s larger models. Consumers who purchase the device abroad may face compatibility issues since local carriers will not support foreign eSIM profiles.

Globally, the iPhone Air is available for preorder in over 60 countries, including India, where it starts at ₹1,19,900. The delay in China reveals the challenges of a uniform global rollout, even as Apple phases out physical SIMs to enable slimmer designs and larger batteries.

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Best eSIM Smartphones for Nigerian Travelers in 2025 https://techeconomy.ng/best-esim-smartphones-for-nigerian-travelers-in-2025/ https://techeconomy.ng/best-esim-smartphones-for-nigerian-travelers-in-2025/#respond Wed, 16 Jul 2025 08:00:52 +0000 https://techeconomy.ng/?p=163087 As international travel picks up pace, Nigerian adventurers, digital nomads, and business travellers are increasingly turning to eSIM-friendly smartphones for seamless connectivity abroad.

Techeconomy has curated list of top picks that combine global network flexibility, dual SIM convenience, and travel-ready features.

1. Apple iPhone 16 Pro

  • eSIM + Dual eSIM support (no physical SIM)
  • Powered by A18 chip & Wi‑Fi 7; robust 48 MP camera system.
  • Excellent battery life and global 5G
  • Ideal for Nigerian iPhone users who want hassle-free international data provisioning

2. Samsung Galaxy S25 / S25 Ultra

  • Dual eSIM + physical SIM support.
  • Powerful Snapdragon 8 Elite, vibrant AMOLED display
  • S Pen support (Ultra), 200 MP camera (Ultra), and seven years of updates
  • Great for multitaskers needing reliable global connectivity

3. Google Pixel 9 Pro

  • Nano SIM + eSIM dual support.
  • AI-enhanced photography, fast OS/security patches
  • Built-in tools to add eSIM profiles easily via Settings
  • Ideal for Android purists seeking smooth travel use

4. Samsung Galaxy Z Fold 7

  • Unfoldable phone with Dual Nano-SIM + multiple eSIM support
  • Packs a 7.6‑inch display and S Pen compatibility
  • Excellent choice for business travellers needing large screens and multiple number lines

5. Xiaomi 15 Ultra

  • Global model supports dual eSIM.
  • Leica lenses, 6,000 mAh battery, Snapdragon 8 Gen 4
  • Ideal for travellers who shoot photos, videos, and need strong longevity and storage

6. Motorola Edge 30

  • Mid‑range with eSIM + 5G.
  • Reliable daily performance & long battery life
  • Budget-friendly option with global eSIM capability

7. Sony Xperia 1 VI

  • eSIM support in unlocked models.
  • 4K 120 Hz OLED display, manual camera/video controls
  • Perfect for creative travellers needing pro-grade imaging and eSIM flexibility

🌍 Why eSIM Matters for Nigerian Travelers

Feature Benefit
No physical SIM Avoid swapping cards, great for frequent flips between Nigerian and foreign networks
Dual-SIM convenience Maintain work and personal numbers in one device
Remote provisioning Activate local eSIM plans anywhere without needing local SIM vendors
Global roaming Better rates and easier setup across multiple countries

🎯 Choosing the Right One for You

  • For Apple fans: iPhone 16 Pro—best-in-class ecosystem + easy eSIM setup.
  • For Android power users: Galaxy S25 Ultra—customizable, high-end, and durable.
  • For niche creatives: Xperia 1 VI—4K screen + pro video/photography tools.
  • For productivity on the go: Z Fold 7—multi-screen productivity with eSIM flexibility.

📌 Tips for Nigerian Travelers

  1. Verify device variant supports eSIM in Nigeria, especially with Samsung models.
  2. Check network compatibility with foreign carriers, eSIM plans vary regionally.
  3. Backup your old SIM to eSIM before deleting, don’t lose local data.
  4. Watch roaming charges, and set data limits via carrier apps.

✅ Final Verdict

Whether you’re managing business abroad, creating digital content on the move, or simply navigating travel without hassle, these eSIM-supported smartphones deliver flexibility, connectivity, and multifunctionality, perfectly suited to 2025’s global Nigerian traveler.

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Remita Showcases Seamless Single Integration Hub for Payments at Digital PayExpo 2025 https://techeconomy.ng/remita-at-digital-payexpo-2025/ https://techeconomy.ng/remita-at-digital-payexpo-2025/#respond Fri, 20 Jun 2025 08:37:43 +0000 https://techeconomy.ng/?p=161427 At the 25th edition of Digital PayExpo, Nigeria’s premier gathering of fintech innovators, regulators, and enterprise leaders, Remita is reaffirming its role as a trusted enabler of Africa’s digital economy.

As a sponsor and exhibitor at the event, Remita is spotlighting its robust payment infrastructure and demonstrating how businesses, fintechs, banks, aggregators, OEMs, and developers can seamlessly tap into a world of opportunity – through a single, intelligent connection.

With over 15,000 digital products and services accessible across more than 150 countries, Remita offers one of the continent’s most extensive payment and service ecosystems.

Participants at PayExpo will explore how Remita enables organisations to collect payments, resell high-demand services, and scale operations without the usual operational friction.

“Our presence at the Digital PayExpo is a deliberate move to show what’s possible for anyone who builds, distributes, or relies on digital services,” said DeRemi Atanda, managing director, Remita Payment Services Limited. “We are here to enable businesses, fintechs, and institutions to connect, scale, and earn – without complexity. Our goal is simple: reduce friction, simplify integration, and multiply opportunity, while we manage the infrastructure that makes it sustainable.”

One of the core offerings Remita will be showcasing is its digital service infrastructure, which enables resellers to distribute products such as airtime, data, PayTV, electricity, airline tickets, movie tickets, eSIM, school fees, and other bill payments.

With 99.9% uptime powered by smart redundancy across multiple service providers, partners benefit from unmatched availability, instant top-ups, and real-time commission payouts.

Equally significant is Remita’s collection capability, which allows businesses and institutions to receive payments on behalf of government agencies, educational institutions, religious bodies, associations, and private enterprises.

This service is trusted by over 5,000 merchants, including all Federal MDAs, 36 state governments, and leading corporate institutions, offering full transparency, real-time reporting, and verifiable receipts.

Participants will also see firsthand how businesses and developers can quickly onboard, access functionalities, and begin testing integrations with minimal effort.

The Remita integration experience is designed to be fast, intuitive, and secure, supported by layered authentication, including IP whitelisting, encrypted tokens, and multi-channel verification for enterprise-grade protection. The platform is designed to be almost entirely self-service, giving users full control to build, test, and go live within 24 hours.

By participating in Digital PayExpo 2025, Remita reinforces its commitment to reducing integration complexity, expanding digital distribution, and powering financial inclusion across the continent. Attendees will engage directly with Remita experts at the booth, experience live demonstrations, and explore how to monetize digital services through a unified, performance-ready infrastructure.

As Africa moves toward a more interconnected digital future, Remita stands as a foundational infrastructure designed to power that journey.

It embodies Remita’s bold vision to empower everyone, everywhere, through innovative thinking and excellent technology, beginning in Nigeria, extending across Africa, and ultimately reaching the rest of the world.

Remita envisions a future where payments and digital transactions are seamless, accessible, and familiar, no matter the distance, scale, or service.

With this project, the company is laying the groundwork for a continent-wide transformation, offering developers, businesses, and institutions the tools to build resilient ecosystems that support ambition, growth, and shared prosperity.

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Media Intelligence Q1 2025: Strong Visibility Positions Nigerian Banks, Tech for Investor Confidence https://techeconomy.ng/media-intelligence-q1-2025-strong-visibility-positions-nigerian-banks-tech-for-investor-confidence/ https://techeconomy.ng/media-intelligence-q1-2025-strong-visibility-positions-nigerian-banks-tech-for-investor-confidence/#respond Tue, 29 Apr 2025 21:20:26 +0000 https://techeconomy.ng/?p=157730 Following the Central Bank of Nigeria’s directive to harmonize exchange rates and the subsequent spike in the dollar-to-naira rate—reaching over ₦1,600/$1 in official markets— Nigeria’s commercial banking, ride-hailing, and telecommunications sectors demonstrated media resilience in Q1 2025.

This is the key insight from a comprehensive sentiment audit by P+ Measurement Services, Nigeria’s foremost media intelligence consultancy, which analysed over 1.3 million online publications and 2,100 print media articles locally and globally during the period.

Leveraging advanced media intelligence frameworks, the Q1 2025 analysis encompassed data from 28 commercial banks4 major telecommunications providers, and 4 leading ride-hailing platforms.

The study deployed rigorous monitoring, measurement, and auditing techniques, drawing from structured metadata points such as editorial tone, CEO visibility, public discourse, and brand-specific media traction.

By quantifying sentiment across these variables, the analysis offers a strategic lens into how media narratives—beyond operational milestones—are actively shaping brand trust, credibility, and relevance across Nigeria’s core economic sectors.

Commercial Banks: Visibility, Trust, and Turbulence

Q1 media sentiment around Nigeria’s banks showed a polarity in perception. Stanbic IBTC Bank emerged as the frontrunner in positive coverage, responsible for 24% of favorable sentiment across the industry. Wema Bank (23%), UBA (19%), Access Bank (18%), and First Bank (16%) followed closely.

Their visibility was supported by initiatives such as Wema Bank’s 80th anniversary campaign and UBA’s ₦41 million customer reward promo.

However, First Bank, while present in positive narratives, also carried the burden of 34% of all negative sentiment.

FCMB (30%), Sterling Bank (18%), and Ecobank (10%) followed, driven by litigation, regulatory reprimands, and negative market performance.

These data points indicate that while strategic PR efforts amplified brand equity for some, crisis events significantly dampened sentiment for others.

Ride-Hailing: Innovation Meets Scrutiny

Among ride-hailing operators, inDrive dominated favourable mentions at 54%, aided by product enhancements like the “Light Cashless” bank transfer feature. Bolt (29%) and Uber (16%) also maintained a strong share of voice.

Yet, sentiment was bifurcated. Bolt attracted 56% of all negative coverage, largely due to safety concerns and regulatory backlash. Uber followed with 33%.

Media narratives were significantly influenced by driver protests, public safety incidents, and the call for federal-level e-hailing regulations. These contributed to rising brand scrutiny despite aggressive service innovation.

Telecoms: Leadership in Spotlight, Policy Driving Talkability

In telecommunications, MTN Nigeria led positive sentiment at 39%, with Airtel (27%) and Globacom (26%) closely trailing.

MTN’s “Go M.A.D” youth empowerment initiative stood out, as did Globacom’s roll-out of SIM-less eSIM technology.

Yet, MTN also bore the brunt of negative sentiment 46%, fueled by union threats and consumer backlash over tariff adjustments.

A turbulent leadership transition at Globacom and an ongoing ownership saga at 9mobile contributed to reputational headwinds.

Notably, telecoms media narratives in Q1 were driven as much by policy shifts and service upgrades as they were by instability and consumer rights activism.

The Media Intelligence Lens: Contextualising Sentiment Drivers

From an analytical standpoint, the divergence between positive and negative sentiment reflects not just brand activity, but the underlying media mood — a composite of how editors, commentators, and the public receive and interpret brand behaviour in context.

In banking, initiatives tied to financial inclusion, brand legacy, and public goodwill increased positive talkability.

Conversely, regulatory breaches, fraud allegations, and legal entanglements skewed perception negatively, reinforcing the classic PR principle: “Silence in crisis equals narrative surrender.”

For ride-hailing, product enhancements were insufficient buffers against public safety crises, a trend increasingly important in a media environment where social proof, particularly from user-generated forums and review sites, plays a strong role in shaping brand trust.

Telecommunications brands faced media volatility as regulatory pricing interventions and leadership instability challenged perception management.

Here, media responsiveness and spokesperson effectiveness proved critical in determining how well brands navigated the sentiment curve.

Q1 2025 Top Performing Brands by Media Sentiment.... (Source: P+ Measurement Service)
Q1 2025 Top Performing Brands by Media Sentiment…. (Source: P+ Measurement Service)

Conclusion: Media Presence ≠ Media Health

As Q2 unfolds, the Nigerian media terrain will likely remain sensitive to leadership decisions, regulatory policy, customer experience, and public safety across sectors.

This Q1 analysis reinforces the idea that media presence, while important, must be accompanied by brand media health management, the strategic balancing of visibility, credibility, and sentiment.

For stakeholders, from investors and regulators to brand custodians and PR strategists, these insights form a crucial foundation for navigating reputational capital in an era where perception can often outweigh performance.

Request Q1 2025 Media Performance Audit Report or info@pplusmeasurement.com

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eSIM: IoT Connectivity Installation Reached 650m in 2023 – Report https://techeconomy.ng/esim-iot-connectivity-installation-reached-650m-in-2023-report/ https://techeconomy.ng/esim-iot-connectivity-installation-reached-650m-in-2023-report/#respond Wed, 23 Oct 2024 07:59:24 +0000 https://techeconomy.ng/?p=146171 IoT Analytics has released a new report highlighting the role of eSIM and iSIM technology in improving security, simplifying roaming, and facilitating provisioning for cellular IoT devices, though current adoption stands at 33% of the device base.

The research from IoT Analytics shows the global installed base of eSIM-capable IoT connectivity modules reached 650 million in 2023.

While eSIM technology offers significant advantages for cellular IoT connectivity, including remote SIM provisioning and enhanced security, its adoption has encountered obstacles such as complexities in remote SIM provisioning and fragmented standards across the industry.

Recent efforts to ease these challenges come in the form of new specifications, SGP.31 and SGP.32, introduced by the GSMA.

These specifications aim to provide a clearer framework for manufacturers and end-users, potentially accelerating the deployment of eSIM technology.

IoT Analytics anticipates that the market for cellular IoT modules with eSIM technology will witness accelerated growth beginning in the second half of 2025.

These insights are part of their updated IoT eSIM Modules and iSIM Chipsets Market Tracker and Cellular IoT Modules & Chipsets Security Tracker reports.

Satyajit Sinha, principal analyst at IoT Analytics, shared his observations, stating,

“In Q3 2024, we observed a notable shift in CEO discussions toward AI applications, renewable energy, IT resilience, and the upcoming U.S. elections. Despite this shift, economic concerns remained the most discussed theme overall. Historically, changes in CEO discussion themes have been indicators of shifts in sentiment and corporate investment behavior. I expect these emerging topics to play a more prominent role in corporate decision-making moving forward.”

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Airtel Introduces eSIM https://techeconomy.ng/airtel-introduces-esim/ https://techeconomy.ng/airtel-introduces-esim/#comments Tue, 24 Jan 2023 09:52:51 +0000 https://techeconomy.ng/?p=93777 … says service is planet-friendly and customers can now use two numbers without needing two handsets

Airtel Nigeria, a leading telecommunications services provider, has announced the launch of eSIM (embedded SIM) – a digital SIM that enables customers to access same functionality as someone using a physical SIM.

The Airtel eSIM offers several benefits over the traditional SIM cards as it is quick and simple to set up online, it is planet-friendly (plastic- free/zero carbon emission), and provides an easy extra line as you can use two numbers without needing two phones/handsets.

ALSO READ: How eSIM Will Change Banking

The eSIM service is now immediately available on the Airtel network and customers who wish to switch their current physical SIM cards for eSIMs will need to ensure they have a compatible device (dial*#06#), obtain the required QR code and be guided through a SIM Swap process by an Airtel service personnel.

Airtel says it has developed a simple and flawless process to activate the eSIM service for all its customers just as it believes that the digital SIM will significantly improve the productivity of Nigerians, helping its stakeholders to achieve personal and professional goals.

Commenting on the Airtel eSIM, Femi Oshinlaja, Ag. Chief Commercial Officer, Airtel Nigeria, said, “Airtel Nigeria is always at the forefront in championing technological advancement and creating innovative platforms and opportunities that will make life better, more exciting, and more enjoyable for all those in our stakeholder value chain. With eSIM, we are not only bringing the latest technology to the fingertips of our customers, but we are also focusing on our Sustainability goals of digital inclusion and environmental best practices as no plastic is involved with eSIM.

“It is therefore our commitment to continue to create offerings that will expand and deepen our digital footprints in line with our positioning as the network of first choice in Nigeria for everything mobile Internet, digital and home broadband.”

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eSIM: Options Before NCC and MNOs https://techeconomy.ng/esim-options-before-ncc-and-mnos/ https://techeconomy.ng/esim-options-before-ncc-and-mnos/#comments Mon, 10 Oct 2022 09:10:19 +0000 https://techeconomy.ng/?p=85850 So, you might be wondering what’s up with the new iPhone 14. Well, here’s a rundown of everything that’s been happening around it lately!

The eSIM is still coming

Now that Apple has announced the iPhone 14 with support for embedded Subscriber Identification Modules (eSIM), and 5G, it is only a matter of time before Nigerians & Nigerian companies start making requests for the phones.

This is not the first time Apple is going that route. In 2019, it happened to be one of the two major smartphone manufacturers that announced several of their models were then equipped with eSIM functionality, then, iPhones XS, XS Max, XR and Google Pixel 3, became the first sets of higher end smartphones – supporting eSIMs.

eSIM is a new technology that allows you to use your phone without a physical sim card. It works by using your e-ID as an identity key rather than utilising an actual physical card or token — like a chip. 

This means you no longer need to carry around multiple cards or tokens like in previous generations of smartphones.

Yes, it has become a hot topic among original equipment or device manufacturers and its increasing role in the industry is clear –  as device manufacturers benefit from lower costs and more space on the processing board.

In fact, eSIMs have already become popular outside Nigeria as well as a few African countries such as South Africa and Kenya, which are among those who have adopted this technology early on because it offers loads of benefits over traditional forms of identification like pin numbers and others.

https://techeconomy.ng/2022/10/how-esim-will-change-banking/?amp=1

eSIM Implementation in Nigeria:

Although some countries are already implementing eSIM, in Nigeria, the uptake is yet to be fully flagged off. 

On November 02 2020, TechEconomy.ng published a report about the provision by the Nigerian Communications Commission (NCC) for an approval for two mobile network operators (MNOs), MTN Nigeria and 9Mobile, to carry out a trial on the workability of e-SIM Service in Nigeria.

The trial, approved to run for a period of one year, involved testing 5,000 e-SIMs by the two networks, subject to compliance with a number of regulatory conditions.

These conditions include full compliance by the MNOs with the Registration of Telecoms Subscribers Regulations 2011 (now amended); the Mobile Number Portability Regulations and Business Rules 2015; Guidelines on SIM Replacement 2017; and non-degradation of the Quality of Service (QoS) experience by users of e-SIMs.

By 2025, GSMA estimates that more than 2 billion eSIM devices will be shipped. Undisputedly, NCC has always worked to put Nigeria’s telecoms sector ahead of cutting-edge technologies that can revolutionise consumer experience. And now is the time to again demonstrate the mettle. 

You might be wondering why we’re talking about eSim in this article. But before we get into that, it is important to understand what an eSim is and how it works.

As discussed in a previous article, eSIM is a technology that allows you to use one phone number across multiple devices. It allows users to connect their existing mobile phones with their new iPhones without having to worry about losing data or having problems connecting them after switching from an older device — which happens often. 

In essence, an eSIM acts as a bridge between two different networks: one being your current network; and another being whatever network you’re currently on when using Apple devices like iPhone 14 or iPad Pro 12″ Model A1561 (2018).

There’s been some progress made though – especially within the last few years where we’ve seen NCC make efforts towards encouraging Nigerians who own iPhones or iPads abroad before returning home because they need access to services such as internet banking while abroad too.

This is limiting innovation and growth of Nigeria’s digital economy especially when compared to other African countries or developed economies where e-Sim is already pervasive.

The Nigerian government is behind in eSIM adoption and it needs to catch up with other African countries, or developed economies already leveraging eSim.

The future of mobile phones lies in the eSIM technology which will allow users to replace their physical SIM card with a digital one that can be registered online or downloaded from their operator’s website. 

This will make life easier for Nigerians because it allows them to keep all their contacts, data and settings on one device instead of having multiple ones for different networks. It also saves them money as they don’t have to buy new phones every time they move between networks anymore!

This innovation could help Nigeria’s digital economy grow if its telecom industry grows too but this cannot happen without adequate infrastructure that supports fast 4G LTE speeds at reasonable prices — which would require more investment.

If Nigeria delays eSIM, it risks missing the opportunity for a better digital future

Nigeria must not lag behind other countries in the region that have already implemented eSIM. The opportunities are huge coupled with the launch of 5G in the country; Nigeria cannot afford to miss out on a better digital future that eSIM presents. 

Conclusion 

It is important that all stakeholders work together to ensure that Nigeria gets its fair share of these new technologies so that we can continue to grow our economy through innovation and entrepreneurship.

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How eSIM Will Change Banking https://techeconomy.ng/how-esim-will-change-banking/ https://techeconomy.ng/how-esim-will-change-banking/#comments Tue, 04 Oct 2022 08:27:50 +0000 https://techeconomy.ng/?p=85358
  • eSIM is a new form of authentication that can be used with e-wallets and mobile wallets in the guise of a special SIM card
  • The eSIM in turn opens up new possibilities for businesses and individuals as it will allow for secure transactions via the internet
  • As technology continues to evolve globally, so too does the manner in which transactions are processed by banks
  • eSIM will allow the modern user to unlock the power of their mobile phone, like never before
  • Technological breakthroughs have gotten us to where we are today in terms of payments, but there are now far more exciting and innovative technologies that have the potential to transform almost every aspect of our lives. One of those exciting technologies is eSIM.

    Launched in April 2019, the eSIM technology continues to progress. We are seeing more and more consumers choosing to use their mobile phones for banking transactions. Not only does this save time, but it also leaves less room for error. 

    For example, in the past, if you needed to access your account information from another device or location, you had to use your mobile device and remember the pin number that gets you back online with your accounts. Today we’re able to separate our personal and work lives by making everything simple and convenient with an eSIM

    eSIM is the next step in the evolution of smartphone technology for banking. An eSIM provides a way to move between device carriers without the need to make use of a physical SIM card, which means there no longer is a need to carry around different devices with different sets of data. It also provides important benefits such as better security, faster connection speeds, and tighter management than using traditional magnetic cards and SIM cards.

    With more and more banks and financial institutions offering services that can be used on a mobile phone, the use of eSIM technology is likely to become more mainstream.

    The digital, internet-based SIM (subscriber identity module) is a communication interface that you insert into your device to make and receive calls, text messages and data connections. 

    With eSIM technology, you can use your mobile device in place of a traditional physical card. You can also make mobile payments directly from your smartphone with apps such as Google Pay and Venmo.

    How eSIM Will Change Banking
    Source: Pixabay

    In this article, we will explore how eSIM technology will change banking as the industry shifts to a more digital payment system in today’s global society. We will examine the positives of an eSIM technology adoption trend, focusing on benefits that could emerge once more users adopt eSIM use.

    eSIM is an innovative technology that enables mobile banking, payments and transactions to all bank customers online. The eSIM standardisation process removes all obstacles in front of the financial services sectors, making it easier for them to innovate their products and services, simplify operations and accelerate growth.

    eSIM is a new form of authentication that can be used with e-wallets and mobile wallets in the guise of a special SIM card. These can be integrated into most smartphones and other devices, allowing users to store their credentials in the device or remotely use them from any place, including paperless banking transactions. The eSIM in turn opens up new possibilities for businesses and individuals as it will allow for secure transactions via the internet.

    eSIM stands for Embedded Secure Identity Module and is a way to make mobile phones and tablets more secure. It allows the user to store their personal identification information in the device itself so that if it is lost, damaged or stolen, then it will not be possible to access valuable information such as credit card numbers and bank account details. With eSIM, users can assign different devices as preferred devices so data can only be accessed on one eSIM device at a time.

    Digital banking has changed the way customers interact with their banks. However, as technology continues to evolve globally, so too does the manner in which transactions are processed by banks. eSIMs will change banking forever as new services become available and transactions become faster, safer and more accessible.

    How eSIM Will Change Banking
    Digital Banking

    People will no longer have to worry about missing out on transactions in the middle of their day. As technology progressively evolves, eSIM’s banking aspect will keep up with all global transactions and be the new standard for security.

    As transactions continue to evolve, the banking industry struggles to keep up with the changes.

    The introduction of eSIM technology will enable banking to be done through a single card that you insert into a terminal to make payments. 

    This will eliminate many of the problems associated with trying to load funds onto an NFC chip and require fewer commissions or debit card fees. Additionally, we will be able to use smartphones as payment devices (via apps) which means that users won’t need to carry cash or other wallets as some other means of payment like paper bills or even credit/debit cards no longer exist. 

    Again, it also provides financial institutions with a strong remittance option for customers who prefer sending money electronically instead of having it in person either for security reasons, time constraints or just due to convenience

    eSIM will allow the modern user to unlock the power of their mobile phone, like never before. It makes banking more convenient and comfortable by being accessible from anywhere at any time. It will make transactions easier than ever before, especially for millennials!

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