In this week’s top news from Europe, the Middle East and Africa (EMEA), not everyone has bought cryptocurrencies, but crypto awareness is at an all-time high; and Dutch payments group Adyen is launching a suite of integrated financial products.
Additionally, London-based real estate tech startup Goodlord is raising £27m (~$35.4m) in Series B funding; consumer loans in Britain swell, the most in five years; and the Dutch antitrust watchdog fined Apple 50 million euros (about $55 million) for the tech giant’s failure to comply with an order.
Wirex Says Consumer Crypto Concerns Must Be Addressed To Increase Adoption
Although most consumers have not purchased or used cryptocurrencies, they are familiar with digital currency. This paves the way for growth as technologies supporting cryptocurrency transactions mature. Some consumers view crypto as a promising investment that could be used as collateral for loans. Others are interested because of the promise of greater security and privacy. Yet most consumers don’t understand cryptocurrencies, which makes them vulnerable to scams. Crypto fraud poses additional risks compared to other forms of electronic payment fraud because transactions cannot be undone and regulators are limited in tracking the parties involved in a transaction.
Adyen will expand into integrated financial products
Adyen, a Dutch payment group, has launched its new suite of integrated financial products. The products will enable marketplaces and platforms to create tailored financial experiences for their users, including small business owners and individual traders. The company’s integrated products will also allow platforms to access new revenue streams and increase user loyalty.
PropTech start-up Goodlord raises £27m to improve the UK rental experience
Goodlord, a London-based property tech startup, raised £27m (about $35.4m) in a Series B funding round led by Highland Europe, which also saw Finch participate. Capital, Latitude and Oxx. Goodlord aims to improve the rental experience in the UK. The company also said that Highland Europe Partner Laurence Garrett will join Goodlord’s Board of Directors to help the company capitalize on its rapid growth and continue to improve the rental industry for everyone involved.
Consumer loans rose in the UK, fueled by record credit card borrowing
Consumer loans in Britain swelled in February, the most in five years. The rise was fueled by credit card borrowing, with consumers billing about $2.5 billion) last month. Of this number, about $2 billion were new credit card loans. It is the biggest increase since the Bank of England started keeping records in 1993.
Apple now faces $55 million fines from Dutch regulators over dating app payments
The Authority for Consumers and Markets (ACM), a Dutch antitrust watchdog, has fined Apple 50 million euros (about $55 million) for the tech giant’s failure to comply with an order allowing Dutch-based dating app providers to use payment methods other than Apple. . Apple submitted a new proposal on Sunday March 27 saying it would comply with the order, but it came too late to be considered before the ACM’s weekly fine.