Weekly EMEA: Apple’s ambitions may conflict with DMA

In this week’s top news in Europe, the Middle East and Africa, Apple’s plan to develop its own payment processing system may test the limits of the European Digital Markets Act, and London-based startup Slip is working to convert the evidence into data that can be used in the United Kingdom.

In addition, Barcelona-based B2B neobank NEO has laundered $ 3 billion through its banknotes, Citi has launched working capital loans in many areas and the UK government has unveiled plans to become a global hub for the crypto industry.

Apple’s ambitions for financial services may conflict with the EU DMA

Apple’s plan to develop its own payment processing system could test the limits of the recently enacted Digital Markets Act for Europe (DMA), which will impose new obligations and restrictions on security guards – mainly Big Tech companies – by end of this year.

The tech giant is reportedly planning to bring some financial services inside, including the development of its own payment processing system. However, it could also add credit checks, loan risk assessment and other financial services, which may raise questions about the interpretation of the law.

Conversion of paper receipts into usable data, customer information, UK merchants

While the pandemic has pushed digital payments into a new era, very little has changed in terms of payment receipts. However, London-based startup Slip wants to change that with the use of digital proofs.

“In a world where you can pay for something using your watch, we still receive a paper receipt to mark the end of the transaction,” Tash Grossman, CEO and founder of Slip, told PYMNTS. “That drives me crazy.”

NEO CEO says banks and regulators ignore multi-currency management needs of EU companies

NEO, a Barcelona-based neobank business-to-business (B2B) company, said it had laundered $ 3 billion through its multinomies since March 2022 – eventually saving European Union-based companies about $ 15 million in banking supplies.

NEO CEO and co-founder Laurent Descout said EU businesses have multi-currency management needs overlooked by regulators, but there is also an underlying banking problem that continues to plague EU businesses.

Citi launches sustainable trade and working capital loans

Citi banking giant has launched sustainable trade and working capital loans in Europe, the Middle East and Africa, Latin America and the Asia-Pacific region.

These new loans can help customers of Citi’s corporate, commodity, financial institutions and commercial banks manage their working capital needs by financing international trade finance and their day-to-day business operations.

UK encryption schemes may seek to reverse regulators’ actions

In a speech by Treasury Secretary John Glen, the UK government announced plans to become a “global hub” for the encryption industry.

The speech, which was also confirmed by Finance Chancellor Risi Sunak, emphasized that the United Kingdom was “open to business and open to cryptocurrencies”. However, this message contradicts some of the recent actions taken by the Financial Conduct Authority regarding cryptocurrency registrations and cryptocurrency promotions.

Amenitiz closes with $ 30 million in SaaS funding charged as “Shopify for hotels”

Barcelona-based Amenitiz, the developer of a Software-as-a-Service solution designed to streamline hotel and B&B management, has closed a $ 30 million Series A funding cycle.

The company said the latest cash injection will be used to expand into Europe, create and launch more products and add 200 employees to its team by the end of the year, up from 150.

PopID, Visa Partner for debut of face verification payments in the Middle East

PopID, a consumer authentication service, and Visa have teamed up to start accepting face-to-face payments in the Middle East to provide cardholders with a secure and innovative payment method.

Many merchants accept PopPay, PopID’s biometric payment solution, including the British Costa Coffee chain and the Géant supermarket chain.

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About: Patient portals are now essential for providers – so much so that 61% of patients interested in using the tools say they will turn to a healthcare provider who offers it. To access healthcare: Soothes digital friction at The Patient Journey, a partnership between PYMNTS and Experian Health, PYMNTS asked 2,333 consumers to find out how healthcare providers can alleviate digital pain points to provide care and satisfaction. patients.

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