Apple is facing an antitrust class-action lawsuit in the US; and more!

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Welcome to your daily FinTech news!

NEWS HIGHLIGHT

Apple is facing an antitrust class-action lawsuit in the US accusing it of illegally profiting from card issuers through policies that prevent competition to its Apple Pay wallet. A complaint filed in San Francisco federal court accuses Apple of denying rivals access to the NFC chip technology in iPhones needed to develop a competing mobile wallet. Link here.

FINTECH NEWS

#payments

• Meta is launching a new “payments in chat” feature on Instagram. With this new feature, users can purchase products from small businesses and track orders via direct messages on Instagram in the United States. Link here.

#expansion

• Plum launched in Belgium. Belgians can now link their accounts to Plum from nine major banks including BNP Paribas Fortis, ING, and Hello Bank. Link here.

#layoffs

• Gemini has made another round of layoffs, affecting seven per cent of its staff, according to TechCrunch. Link here.

#breakingnews

• Ping Express executives convicted for $160 M money laundering. Two US-based Nigerian fintech executives pleaded guilty to failure to maintain an effective anti-money laundering policy. Link here.

#crypto

• Buenbit launched a local currency loan product that uses crypto as collateral. Link here.