Industry Minister Suggests Competition Bureau Look at Digital Wallets

Published on July 16, 2024

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. In a letter to the bureau, Mr. Champagne points to other countries that are taking action to ensure no one entity dominates the space. In a deal approved last week, the European Union accepted a promise by Apple to open its “tap to pay” iPhone payment system to rivals, ending an EU anti-trust case. 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....

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