EMEA Weekly: Wirex Says Consumers’ Crypto Concerns Must Be Addressed; Adyen to Expand Into Embedded Financial Products

In this week’s top Europe, Middle East and Africa (EMEA) news, not everyone has purchased cryptocurrencies, but crypto awareness is through the roof; and Dutch payments group Adyen introduces a suite of embedded financial products.

Plus, London-based property technology startup Goodlord raises 27 million British pounds (about $35.4 million) in a Series B funding; consumer lending in Britain swells, the most in five years; and the Dutch antitrust watchdog has fined Apple 50 million euros (about $55 million) for the tech giant’s failure to comply with an order.

Wirex Says Consumers’ Crypto Concerns Must Be Addressed to Increase Adoption

While most consumers have not purchased or used cryptocurrencies, they are aware of digital currency. That sets the stage for growth as technologies supporting 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 greater security and privacy. Still, most consumers do not understand cryptocurrencies, leaving them vulnerable to scams. Crypto fraud has added risks compared to other forms of electronic payment fraud, as transactions cannot be reversed, and regulators are limited in tracking the parties involved in a transaction.

Adyen to Expand Into Embedded Financial Products

Adyen, a Dutch payments group, has debuted its new suite of embedded financial products. The products will allow marketplaces and platforms to create tailored financial experiences for their users, including small business owners and individual merchants. The company’s embedded products will also allow platforms to access new revenue streams and increase user loyalty.

PropTech Startup Goodlord Raises £27M to Boost UK Renting Experience

Goodlord, a London-based property technology startup, raised 27 million British pounds (about $35.4 million) in a Series B funding round led by Highland Europe, which also saw participation from Finch Capital, Latitude and Oxx. Goodlord aims to elevate the rental experience in the U.K. The company also said Highland Europe partner Laurence Garrett would join Goodlord’s board to help the company leverage its fast growth and continue improving the renting industry for all involved.

Consumer Lending Rose in the UK, Fueled by Record Credit Card Borrowing

Lending to consumers in Britain swelled in February, the most in five years. The rise was fueled by credit card borrowing as consumers charged about $2.5 billion) last month. Of that number, about $2 billion was new lending on credit cards. That’s the largest rise since the Bank of England began keeping records in 1993.

Apple Now Faces $55M in 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 to allow Netherlands-based dating app providers to use non-Apple payment methods. Apple submitted a new proposal Sunday (March 27) that said it will comply with the order, but that came in too late to be considered ahead of the weekly ACM fine.