British Regulators Probe Big Tech Digital Wallets for Competition and Consumer Protection Issues
British Regulators Investigate Big Tech's Digital Wallets
British regulators are closely examining the use of digital wallets by Big Tech companies like Apple Pay, Google Pay, and PayPal.
Competition and Consumer Concerns
The Financial Conduct Authority and Payments Systems Regulator seek to understand the impact of digital wallets on competition, consumer protection, and market integrity in the UK.
- Benefits and risks assessment
- Impact on payment options at checkout
- Growing importance as a touchpoint
With over half of UK adults using digital wallets, regulators aim to assess the benefits, risks, and implications for payment options at checkout, emphasizing the growing importance of this technology in connecting Big Tech firms with consumers.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.