Wirex consumers’ crypto concerns need to be addressed

In this week’s top news from Europe, Middle East and Africa (EMEA), not everyone has been buying cryptocurrencies, but crypto awareness has gone through the roof; and Dutch payments group Adyen unveils a range of embedded financial products.

Also, London-based real estate tech startup Goodlord raises £27 million (about US$35.4 million) in Series B funding; UK consumer credit surges at its fastest pace in five years; and the Dutch antitrust authority has fined Apple 50 million euros (about $55 million) for failing to comply with an order.

Wirex says consumer crypto concerns need to be addressed to increase adoption

Although most consumers have not bought or used cryptocurrencies, they are aware of digital currency. This sets the stage for growth as technologies to support cryptocurrency transactions mature. Some consumers see crypto as a promising investment that could be used as collateral for loans. Others are interested because of the promise of increased security and privacy. Still, most consumers don’t understand cryptocurrencies, which makes them vulnerable to fraud. Crypto fraud poses additional risks compared to other forms of electronic payment fraud as transactions cannot be reversed and regulators have limited ability to track parties involved in a transaction.

Adyen expands into embedded financial products

Adyen, a Dutch payments group, has unveiled its new suite of embedded financial products. The products will enable marketplaces and platforms to create tailored financial experiences for their users, including small business owners and retailers. The company’s embedded products will also enable platforms to generate new revenue streams and increase user retention.

PropTech startup Goodlord raises £27m to improve UK rental experience

Goodlord, a London-based real estate tech startup, raised £27 million (about $35.4 million) in a Series B funding round led by Highland Europe, which also included Finch Capital, Latitude and Oxx. Goodlord aims to improve the UK rental experience. The company also said Laurence Garrett, a partner at Highland Europe, would join Goodlord’s board of directors to help the company capitalize on its rapid growth and continue to improve the rental industry for all stakeholders.

Consumer credit rose in the UK, fueled by record credit card borrowing

Lending to consumers in the UK rose the fastest in five years in February. The surge was fueled by credit card lending as consumers demanded about $2.5 billion last month. About $2 billion of that was new credit card loans. That’s the biggest increase since the Bank of England started keeping records in 1993.

Apple now faces $55 million in fines from Dutch regulators over dating app payments

The Consumers and Markets Authority (ACM), a Dutch antitrust authority, has fined Apple 50 million euros (about US$55 million) for failing to comply with an order requiring Dutch-based dating App providers allowed to use non-Apple payment methods. Apple filed a new proposal on Sunday (March 27) saying it will comply with the order, but that came too late to factor in ahead of the weekly ACM penalty.