New CFPB report questions Big Tech’s role in contactless payments

Apple’s and Google’s roles in contactless payments analyzed as regulator prepares rules to accelerate shift to open banking.

The US Consumer Financial Protection Bureau (CFPB) has published a new report highlighting the impact of Big Tech companies’ policies and practices that govern tap-to-pay on mobile devices like smartphones and watches.

The agency pointed out that although Apple forbids banks and payment apps from accessing the tap-to-pay functionality on

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