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Payabl and Mastercard Celebrate 12 Years of Strategic Partnership

Payabl, a prominent payments processing company, is commemorating 12 years of its strategic partnership with Mastercard, a collaboration that has significantly shaped its trajectory in the competitive fintech industry. Since its inception, this partnership has empowered Payabl to tap into Mastercard’s vast network and cutting-edge technology, enhancing its ability to deliver seamless, secure, and innovative payment solutions to a diverse global clientele.

Over the past decade, the partnership has been pivotal in helping Payabl expand its reach, especially in the fast-growing digital payments sector. By leveraging Mastercard’s technological expertise and global infrastructure, Payabl has been able to offer robust solutions tailored to the needs of businesses navigating the complexities of the digital economy. This has been particularly important as the payments landscape has evolved, with increased demand for secure, fast, and flexible payment options.

The partnership also underscores the value of strong collaborations in the fintech world, where rapid technological advancements and shifting consumer expectations require agility and innovation. For Payabl, the relationship with Mastercard has not only provided the necessary tools and support to stay ahead of the curve but has also reinforced its reputation as a reliable and forward-thinking player in the payments processing industry.

As Payabl looks to the future, its partnership with Mastercard will likely continue to be a cornerstone of its growth strategy. The company is poised to further innovate and expand its offerings, ensuring that it remains at the forefront of the digital payments revolution. This enduring alliance highlights how strategic partnerships between established financial giants and agile fintech firms can drive industry-wide progress, benefiting businesses and consumers alike.

Only 1% Of Cyprus Farms Use Precision Farming Technologies

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

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