America's Consumer Financial Protection Bureau (CFPB) said on Thursday it is probing some of the biggest names in the electronic payments industry, requesting detailed information from them on how they collect and use people's spending data.
A strings of demands was issued by the government watchdog to Amazon, Apple, Facebook, Google, PayPal, and Square, said CFPB Director Rohit Chopra, and more could be sent to others. In addition, the agency is also looking into Chinese payment providers WeChat Pay and Alipay, saying the duo are "combining messaging, e-commerce and payment functionality into super-apps," which America's internet goliaths may try to imitate.
“Big Tech companies are eagerly expanding their empires to gain greater control and insight into our spending habits,” said Chopra in a statement [PDF]. “We have ordered them to produce information about their business plans and practices.”