British regulators to examine Big Tech's digital wallets

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British regulators to examine Big Tech's digital wallets - Channel News Asia

Quick Summary:

LONDON : British regulators said on Monday 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.

FILE PHOTO: A smartphone with Apple Pay and Google Pay logos is placed on a laptop in this illustration taken on July 14, 2021.

Digital wallets are now likely used by more than half of UK adults and have become "an increasingly important touchpoint" between Big Tech companies and UK consumers, they said in a statement.