The UK Payments Systems Regulator (PSR) and the Financial Conduct Authority (FCA) are seeking views on the benefits and risks of digital wallets for people and businesses, the July 15 announcement said. The use of digital wallets has grown rapidly over the past few years and may now be used by more than half of UK adults. With Apple Pay, Google Pay and PayPal becoming the three most widely used digital wallets in the UK today, digital wallets have become an increasingly important point of contact between big tech companies and UK consumers. As a result, regulators are keen to better understand the impact of the growing popularity of digital wallets on consumers and businesses.