Fintech in France has been booming for the last couple of years as the country has been among the first to adapt to Bitcoin and establishing over the counter selling points.
However, Fintech in France is now under the anti-trust watchdog gun as Autorite’ de la concurrence, the competition authority launches a probe into the industry that aims to focus on various payment services.
In the wake of coronavirus pandemic, China is launching the Digital Yuan while the United States is expected to bring its human resources up to the mark by enabling internet access across the country.
On the other hand, various payment options comprising the Fintech in France include mobile payments, blockchain-based payments. These payment options and services are powered by Fintech startups and some old giants alike.
Financial watchdog seeks issues from Fintech in France
Now in the latest effort, the financial watchdog is peeking into the industry to gather feedback on the integration between fintech in France and the conventional banking and fiat methods to figure out possible issues.
The Autorite de la concurrence questionnaire comprises the following question themes.
- How respondents understand the changes taking place in the sector?
- What they see as the competitive advantages held by different players?
- What the business practices they expect to see implemented by the different firms?
The effort is taking place with the idea that the new advancements have are where impacting the supply side they are pushing the bourgeoisie towards a more digital lifestyle amidst the wake of cloud, cryptocurrency, and digital payments. All in the wake of big tech entering the market such as Facebook and Google trying to integrate their payment methods to boost up startups.