FinTech Weekly - Fintech News Issue #337

According to the European Commission, Google abused its dominant position to promote its own products, and this cost the tech giant a fine of $2.8 billion for anticompetitive behavior.

The London-based startup Zilch is now one of the fastest-growing fintech firms ever. Zilch allows people to buy products and to pay for them over a six-week period, and it has just raised $110 million in the last funding round - one of the investors is Goldman Sachs.

From spring 2022 Mercedes drivers in the UK and Germany could be able to buy products and services from their cars, thanks to Mercedes Pay - a compliant payment system supported by Visa.

Shelby Holliday talks about Apple’s decision to allow customers not to share their data while using apps. Even if this move gives people more control over their data, companies that use that data to create customized ads are going to increase products’ prices to cover marketing costs.

“It is not reasonable to build a financial system that demands investors also be sophisticated interpreters of complex code”. With these words, SEC Commissioner Caroline Crenshaw shares her view on DeFi, considering it as a too uneven environment.

Cuy Sheffield, head of crypto at Visa, while speaking at the Singapore FinTech Festival says that if cryptos were considered something weird, now they’re becoming a cultural and cool thing thanks to the rise of NFTs.

The fintech firm Ebury is cooperating with Santander to allow easier cross-border trade for SMEs in Germany. Another case of cooperation between traditional and innovative systems to provide new solutions to businesses.

Visa announced its new package of benefits to meet the needs of clients who are always more concerned about climate issues, and want to live in a more sustainable way. These benefits will be available in Europe before going global during the next year.

Mastercard announced its cooperation with digital asset service providers like Amber Group, CoinJar and Bitkub, to launch cards that will allow users in the APAC region to convert crypto into fiat instantly.