Weekly News Highlights – 24 August 2023

Stay up to date with the latest news from fintech! This week, we bring you updates on tech launches, cybersecurity, new entries, acquisitions, and more. Enjoy reading!

SumUp ‘Lowers Barriers to Entry’ by Launching Tap to Pay on iPhone for UK and Netherlands Merchants (The Fintech Times)

SumUp, the London-based fintech providing tools to support business growth has launched ‘Tap to Pay’ on iPhone for its merchant customers across the UK and the Netherlands. The move enables merchants using SumUp to securely accept all forms of contactless payments, including Apple Pay, contactless credit and debit cards, as well as other digital wallets, using only an iPhone with the SumUp iOS app installed. Tap to Pay does not require additional hardware, meaning SumUp customers can accept contactless payments from any location, so long as they have a compatible iPhone. Read more

Digital Dollar Project and Western Union pilot CBDC for cross-border remittances (Finextra)

The Digital Dollar Project says a pilot carried out with Western Union into the use of CBDCs for cross-border remittances has found a host of potential benefits. The Digital Dollar Project is the brainchild of former CFTC chair Chris Giancarlo, ex-CFTC chief innovation officer Daniel Gorfine and Pure Storage CEO Charles Giancarlo, who have set up a not-for-profit to encourage research and public discussion about a CBDC. The project worked with Western Union, BDO Unibank in the Philippines, and Accenture on the latest pilot, designing and configuring a platform using DLT to simulate the payments infrastructure necessary to transfer digital dollars to Philippine pesos. Read more goes public (Finextra)

After a tumultuous two years that saw its CEO hit the headlines for laying off staff via Zoom, digital mortgage outfit is set to go public via a Spac merger. will list on the Nasdaq on Thursday via a deal with Aurora Acquisition Corp, completing a move that was initially set to happen in 2021. The listing was delayed amid a Securities and Exchange Commission inquiry and several rounds of layoffs – including the infamous mass Zoom firings – which reduced Better’s headcount by about 90%, according to TechCrunch. Read more

Two founders behind Russian crypto mixer Tornado Cash charged by US federal courts (Tech Crunch)

The two founders behind Tornado Cash, a Russian cryptocurrency mixing service, have been charged by the U.S. Attorney’s Office for the Southern District of New York, according to a statement on Wednesday. Roman Storm and Roman Semenov were officially charged with conspiracy to commit money laundering, conspiracy to commit sanctions violations and conspiracy to operate an unlicensed money transmitting business, according to a newly unsealed indictment. Storm was arrested in Washington on Wednesday but Semenov still remains at large, the SDNY stated. Read more

Apple expands Tap to Pay solution to Netherlands (The Paypers)

Apple has expanded the availability of its Tap to Pay on iPhone feature in the Netherlands. This feature, introduced in February 2023, allows businesses to accept various payments like Apple Pay and contactless cards through a simple tap on iPhones. Previously launched in Taiwan and the United Kingdom, it’s now accessible in the Netherlands. Merchants with an iPhone Xs or newer running iOS 16.4 or later can utilize a supporting iOS app to enable this feature. Customers can securely pay by tapping their device to the merchant’s iPhone, completing the transaction via NFC technology. Read more

Binance launches Binance Pay solution in Brazil (The Paypers)

Cryptocurrency exchange Binance has launched the Binance Pay crypto payment option in Brazil to help local merchants attract new customers. This new payment solution offers local businesses an alternative method for accepting payments, potentially attracting new customers, expediting transaction processing, and lowering operational costs. Binance Pay supports over 70 different cryptocurrencies, including popular ones such as bitcoin, BNB, ether, and USDT. Users are not charged any fees, and merchants can accept payments through a secure wallet-to-wallet transfer system that completes transactions quickly. Read more

Cathie Wood’s ARK Snaps Up Adyen Shares After Record Meltdown (Bloomberg)

Cathie Wood extended her bet on Dutch payment processing company Adyen NV just after a growth slowdown sent the stock down by almost half to its lowest level in three years. A daily trading report from Wood’s ARK Investment Management showed that two of the firm’s exchange-traded funds snapped up Adyen stock on Monday, worth about $9 million based on closing prices. One added nearly 2,900 Amsterdam-listed shares, while another bought about 733,000 American depositary receipts, which trade over the counter in the US. Read more

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