In today’s major news from Europe, the Middle East and Africa, most EU websites verified by a consumer protection agency cast doubt on the reliability of reviews, and a group of German publishers calls on the EU to stop Google’s plan to end the use of third-party cookies. .
Additionally, UK consumers were optimistic about spending in the first two weeks of 2022, FinTech startup PayedIn Technology launched a payment solution in Nigeria and open banking platform Tink launched a service in the UK that allows lenders to verify a person’s income.
European Commission finds that two-thirds of EU websites violate consumer protection laws
The results of an EU-wide review of websites for deceptive online review practices found that the majority of the websites checked violate EU law.
Online consumer reviews on 223 major websites were checked as part of the recent ‘sweep’ by an EU consumer protection agency, which found that nearly two-thirds of the sites checked ‘raised doubts as to the reliability of the opinions”.
German publishers oppose Google’s plan to end third-party cookies
Google started the week with a complaint from a group of German publishers and advertisers asking the EU to halt the search giant’s plan to end the use of third-party cookies, reported the Financial Times on Monday 24 January.
Politico publisher Axel Springer and hundreds of other publishers allege that Google is breaching EU law with its decision to end third-party cookies from the Chrome browser within the next year.
High UK inflation could outweigh rising card use
British consumers were optimistic about spending in the first two weeks of the new year, but rising inflation is expected to weigh heavily on Britons’ finances, Bloomberg reported on Monday (January 24th).
Data cited by Lloyds Banking Group, a London-based financial institution, revealed that debit card spending increased by 27% from January 1 to January 14 compared to the same period in 2020, before the COVID-19 don’t knock.
Yoox launches high-end online fashion market
High-end online fashion retailer Yoox launched its first marketplace in 30 countries across Europe last week, and the company said it would integrate small businesses and brands, enhancing its product assortment. product offerings.
The Yoox market will expand to the United States, North Africa, Japan and the Middle East next year, the company said.
Turkish authorities alarmed by the rise of cryptocurrencies
Residents of Turkey are flocking to speculative cryptocurrencies as they seek financial stability, but President Recep Tayyip Erdoğan plans to crack down on the digital currency as the Turkish lira boils, the Financial Times has reported.
In an interview with Orhan, a Turkish web security expert who declined to give his last name, the 39-year-old said he joined the rush into crypto assets amid rising inflation and of a falling lira. Since 2021, the lira has fallen by around 45% against the dollar.
Wendel investment group acquires ACAMS in $500 million deal
French investment group Wendel has agreed to buy the Association of Certified Anti-Money Laundering Specialists (ACAMS) in a deal that values ACAMS at $500 million.
The company noted that ACAMS has 90,000 members in 175 countries and ACAMS employs about 275 people, mostly in the United States, London and Hong Kong. The association had reported revenue of $83 million for the 12-month period ending September 30.
PayedIn launches electronic payment solution in Nigeria
FinTech startup PayedIn Technology has launched a simple payment solution in Nigeria to support the digital economy, the company recently announced.
With this added feature, merchants can sign up to receive their payment within minutes. This solution promises to accelerate the country towards a cashless culture, the company said.
Crypto Exchange KuCoin to allow SEPA payments
In an effort to strengthen its position in the European cryptocurrency market, crypto exchange KuCoin has integrated SEPA (Single Euro Payments Area) payments.
SEPA is a European Union initiative supported by the European Commission, the European Parliament, the European Payments Council and the European Central Bank (ECB).
Apollo Partners BNP Paribas on inventory solutions
Global asset manager Apollo Global Management and Athene, its insurance subsidiary, announced a partnership with global bank BNP Paribas to create Eliant Inventory Solutions LP, a platform that offers working capital and supply chain support. ‘supply.
Tink Intros Instant Income Verification Service for Banks
Open banking platform Tink has introduced a service in the UK that allows lenders to verify a person’s income using real-time bank account data, streamlining the entire verification process.
Income Check is Tink’s new product that leverages facial recognition or one-click verification to connect to a user’s bank account, where transactions are grouped by salary, pension, benefits and cash deposits.
Kryptonect envisions “the Amazon of blockchain”
Cryptocurrency marketplace and ecosystem startup Kryptonect announces plans to launch “the Amazon of blockchain,” with a marketplace that allows consumers to purchase “tangible products” anonymously.
Gorillas will take Frichti for a bigger slice of pie at food delivery
German fast-food grocery startup Gorillas is working on a deal to acquire French delivery company Frichti on undisclosed terms, Bloomberg reported on Monday (January 24th).