FinTech Matters newsletter | June 2022
- Erlang Solutions Team
- 7th Jun 2022
- 7 min of reading time
Contents
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Read on to discover what really matters for tech in financial services right now.
With some much needed recalibration in tech markets, there are still some interesting innovations happening in fintech around payments and other areas that are encouraging as we head for H2 2022.
Michael Jaiyeola, Fintech Marketing Lead
The Top Stories Right Now
Google brings virtual cards using autofill to Chrome and Android
Google launched its digital wallet and virtual cards at their recent I/O developer conference.
From this summer, shoppers with an eligible Visa, American Express, Mastercard or Capital One card can use Autofill on Chrome and Android with a temporary virtual number instead of the actual card numbers.
According to Google, this provides a more secure and seamless experience as you will no longer need to enter long card numbers and hunt for your CVV every time you want to check out online.
Apple faces an antitrust charge over NFC payments
The European Commission has charged Apple for restricting access to the iPhone’s NFC chip technology for payments. The EC has looked into other payment services being unable to directly use the NFC chip for an app that might rival Apple Pay. While NFC is available in most payment terminals, you can only use Apple Pay for wireless communication for ‘tap and go’ payments.
The EC has sent Apple a ‘statement of objections’ informing the tech giant of a preliminary view that it abused its dominant position in markets for mobile wallets on iOS devices.
EU launches Digital Finance Platform
The European Commission has launched the EU Digital Finance Platform, a website designed to build dialogue between fintech players and supervisors.
The platform is live after being first announced as part of the EC’s digital finance strategy in 2020. The objective is to untie the fragmented nature of digital financial services across Europe’s Single Market to enable innovation and growth.
At launch, there are two main parts to the platform. The first is an observatory offering interactive features such as a Fintech Map, events and a section where users will be able to share relevant research material.
The second section is a gateway which will act as a single access point to supervisors, with information about national innovation hubs, regulatory sandboxes and licensing requirements.
More content from us
MongooseIM is our real-time, mobile messaging platform for one-one messaging, group chat and social features. Discover how we helped NayaPay (the chat-led mobile payments platform) add MongooseIM as a secure messaging backend.
There’s a lot going on in payments right now from growth in real-time, embedded and integration of cryptocurrency. We cover this and more in our two-part blog series.
SumUp is another successful fintech company built using Erlang technology. We spoke with their Elixir engineering manager Daniel Pilon, who is working on building SumUp Bank, about software engineering principles in the financial services domain.
ElixirConf EU 2022 – coming soon as a hybrid event 9-10 June in London and online. The Elixir programming language is used to build the systems at the likes of Solaris Bank, TaxJar (a Stripe company) and Memo Bank.
Erlang Solutions bitesize
We’re hiring! Looking for your next developer gig? You should first check out our open positions here. Also, here’s a handy list of the top 25 CTOs in fintech that is worth a look too!
RabbitMQ Summit – is happening in person at CodeNode in London on 16 September as an online and in-person event. RabbitMQ is a technology found in nearly all fintech stacks and this conference is the go to place to hear from the experts who are using it.
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