FinTech Weekly - Fintech News Issue #356

Gwera Kiwana and Sam Rai are joined by Roger De’Ath (Truelayer) and Jimmy Fong (SEON) to discuss the most relevant developments in financial technology: the partnership between Klarna and eBay, HSBC that buys land in the metaverse, Revolut’s support to Ukrainian refugees, and much more.

The OECD (Organisation for Economic Cooperation and Development) proposes a new tax framework for crypto holders: the organization said that cryptocurrencies put at risk tax transparency, and that the space needs additional safeguards.

Block Earner, an Australian fintech company, allows investors to get fixed yields thanks to decentralized finance (DeFi) products. Jordan Momtazi, co-founder of the company, makes a comparison between their savings accounts and traditional saving accounts – making it clear that Block Earner offers higher returns.

PaaS (Platform as a Service) providers are improving payment systems creating modern and easy-to-use platforms. Among the services offered by these providers are real-time payments, cloud native solutions, and fraud management systems.

Ron Shevlin shares his thoughts – and data – about the WSJ article, and uses some interesting topics to defend fintech and the future of fintech companies: the engagement factor, the experience factor, the portfolio and profit perspectives.

The financial sector is one of the many sectors that use artificial intelligence (AI) to maximize profits and improve services: fraud detection, accounting automation risk assessment are just some of the fields where AI is used.

Request to Pay looks like an easy and flexible solution to improve payment systems and transactions between payers and billers. Despite customers and merchants are favorable to this system, there are still few companies and banks that offer Request to Pay services.

People’s Bank of China and Chinese financial regulators want to encourage “controllable risks” to improve financial technology in the region. The central banks would like banks to cooperate more with external institutions and increase the number of fintech services.

Gas prices are rising – it’s not something new. But the real news is that Klarna is allowing users to use BNPL schemes also to buy gasoline. This service will be available in the United States thanks to the partnership among Klarna, Chevron and Texaco.