British regulators to examine Big Tech's digital wallets

FILE PHOTO: A smartphone with Apple Pay and Google Pay logos is placed on a laptop in this illustration taken on July 14, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

LONDON (Reuters) - 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.

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