British regulators to examine Big Tech’s digital wallets

British regulators said on Monday, July 15, that they were looking into the soaring use of digital wallets offered by Big Tech firms, including whether there are any competition, consumer protection or market integrity concerns.

The Financial Conduct Authority and Payments Systems Regulator is seeking views on the benefits and risks, and will assess the impact that digital wallets such as Apple Pay, Google Pay, and PayPal have on competition and choice of payment options at checkout, among other things.