The Australian government said on Wednesday it plans to introduce laws empowering the central bank to regulate digital wallet providers, including Apple Pay and Alphabet Inc's Google Pay. The proposed rules would enable the Reserve Bank of Australia (RBA) to monitor digital wallet payments in the same way it monitors credit card networks and other transactions, and would also empower the Treasurer to order regulators to examine whether any payment platform poses a risk to the nation. "The government is addressing the risks posed by new digital payment services that are currently unregulated to protect consumers, promote competition and drive innovation," Australia's treasurer said in a statement.
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