Implications of Big Tech's Presence in Payments Under FCA Review
Monday, 15 July 2024, 20:41
Exploring Big Tech's Influence on Payments
The Financial Conduct Authority (FCA) is delving into the role of Big Tech firms in the payments sector.
Key Considerations
- Consumer Protection: Examining how Big Tech's services impact consumer rights.
- Competition: Assessing the competitive landscape influenced by tech giants.
- Systemic Risk: Addressing concerns about potential risks to the financial system.
The FCA's consultation reflects a proactive stance toward regulating Big Tech's involvement in payments, aiming to ensure a fair and secure financial environment.
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.