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Industry minister suggests Competition Bureau look at digital wallets

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Competition Bureau Nyheter

Digital Wallet,Apple Pay,Apple

OTTAWA — Industry Minister François-Philippe Champagne says the issue of competition in the big tech-dominated digital wallet market should be on the...

OTTAWA — Industry Minister François-Philippe Champagne says the issue of competition in the big tech-dominated digital wallet market should be on the Competition Bureau's radar.

Mobile wallets rely on near-field communication, or NFC, which uses a chip to wirelessly communicate with a merchant’s payment terminal.The EU said Apple Pay is the biggest NFC-based mobile wallet on the market, and accused the company of denying others access. They said Apple Pay, Google Pay and PayPal are the most widespread systems, and called digital wallets, which are likely now used by more than half of UK adults, “an increasingly important touchpoint between big tech firms and UK consumers.”

 

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