To ask His Majesty's Government, following the increasing popularity of the use of digital wallets, what steps they are taking to ensure the (1) security, and (2) privacy, of consumers using digital wallets for contactless payments.
Answered on
1 August 2024
The government recognises the importance of ensuring payment methods, including digital wallets, offer a high level of security and privacy to consumers.
Between them, the independent Payment Systems Regulator and Financial Conduct Authority are responsible for ensuring payments systems and financial markets are working well for consumers.
These regulators have jointly published a Call for Information to better understand the impacts of the increasing popularity of digital wallets on consumers and businesses, including in relation to security and privacy. This Call for Information is open for responses until 13 September.