BKartA chief flags competition concerns over Facebook’s Libra, Google, Apple payment systems

The German competition authority is keenly monitoring developments over Facebook’s yet-to-be-launched cryptocurrency Libra, with president Andreas Mundt flagging concerns that the platform’s ability to gather financial data will further bolster its dominance.

The Bundeskartellamt (BKartA) is also monitoring Apple Pay and Google Pay – payment services offered by the smartphone maker and the search giant respectively – for competition concerns, Mundt told PaRR in an interview.

The Bonn-headquartered agency chief said that Facebook already collects a lot of personal data and is a dominant player.