The Parliamentary Joint Committee on Corporations and Financial Services has begun an inquiry into Mobile payment and digital wallet financial services.
The inquiry will focus on:
- the nature of commercial relationships and business models, including any imbalance in bargaining power, operating between providers of mobile payment digital wallet services and:
- providers of financial services in Australia;
- merchants and vendors; and
- differences between commercial relationships in Australia and other jurisdictions;
- the implications for competition and consumer protection;
- the adequacy, performance and international comparison of Australian legislation, regulations, self-regulation, industry codes, standards and dispute resolution arrangements; and
- any related matter.
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Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.