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
  • consumers;
• 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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