Today in FinTech: Phishing attacks in Ukraine averted
In today’s FinTech news, Wirex Credit offers loans backed by crypto, while nine suspected cybercriminals were arrested after an alleged phishing attack on Ukraine. In addition, the Fiscal Policy Committee of the Bank of England is sounding the alarm that cryptocurrency is necessary sooner rather than later.
Wirex Credit Intro’s Crypto-supported loans
Payment platform Wirex introduces Wirex Credit for loans, supported by cryptocurrency that allows users to borrow up to $ 100,000 in stack coins with a loan value (LTV) of up to 80%.
The new product is intended to provide more opportunities for everyday users to use crypto. Connected to its app, Wirex is the first company worldwide to develop a crypto-activated card, and credit can be used wherever Mastercard and Visa are accepted.
Payments Phishing campaign thwarted by Ukraine’s online police
Nine people were arrested after eavesdropping on an EU payment phishing campaign that allegedly defrauded more than 5,000 Ukrainian citizens of more than 100 million hryvnias ($ 3.38 million).
Around 400 phishing links were sent to Ukrainian residents who sent unsuspecting users to malicious websites packaged as EU resource pages.
Bank of England demands stricter crypto rules
The Bank of England’s Fiscal Policy Committee said that price volatility and the fall in the market value of cryptocurrencies are strong indicators that the market needs stricter regulation.
The central bank also said that systemic risk will develop if the activity of cryptocurrencies and its ties to banks and other markets continues to grow.
Mobile Payments Startup Zapper aims for $ 1B valuation with scheduled fundraiser
Zapper, a South African mobile payment platform, is looking to raise funds as it seeks a valuation close to $ 1 billion.
Zapper was launched in 2014 and has around 250,000 customers and 65,000 sellers and enables fast settlements with QR codes and URL technology, and uses data insight to provide discounts.
The employer-supported BNPL plan spreads payments and pain for health services
Nibble Health co-founder and CEO Steven Greene told PYMNTS that many people in the United States have medical insurance, but they still have co-payments and deductibles that may seem insurmountable.
Installment invoicing without interest or fees in the e-commerce area gave him the idea that the same concept could be applied to medical debt.
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NEW PYMNTS DATA: HOW TOOLS AND CONSUMER FINANCING COMPANIES CAN IMPROVE THE BILL PAYING EXPERIENCE
About: More than half of energy and consumer finance companies have the ability to process all monthly bill payments digitally. The kicker? Only 12% of them do. Digital Payments Edge, a PYMNTS and ACI Worldwide collaboration, examined 207 billing and debt collection experts at these companies to find out why it is still elusive to go completely digital.
