Block is facing a Class Action lawsuit over a Cash App Investing data breach; & more!

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Welcome to your daily FinTech news!

NEWS HIGHLIGHT

Block is facing a Class Action lawsuit over a Cash App Investing data breach last year that impacted 8.2 million customers. Block in April informed the SEC that a former employee had downloaded reports, without permission, containing customer information on US Cash App users. Link here

FINTECH NEWS

#insight

• Southeast Asia’s digital economy is booming. This explosive growth is also attracting criminals and putting merchants, banks, and consumers at risk of financial losses and missed revenue. Link here


• The landscape of U.S. merchant payments assets. After intense M&A activity in the last two decades, is there still M&A liquidity in U.S. merchant payments? See Flagship Advisory Partners' infographic here.


• Philippines kicks off ASEAN FinTech month. These initiatives are set amidst the rapid development of the Philippine FinTech industry, which attracted $342 million in the first half of last year alone. Link here


• The winners of the FinTech awards 2022. Top awards on the night included Erika Villanueva and Dom Pym, picking up FinTech Leader of the Year awards. Link here


• Colombian neobanks reach 30.6 M users. Colombia's Daviplata and Nequi are the country’s most popular digital wallets, with 15.6 million and 13.5 million users, respectively. Link here