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I am investigating the anti-competitive behavior of Mastercard, Visa, PayPal
The UK Financial Conduct Authority has launched an investigation into Mastercard, Visa, and PayPal over suspected anti-competitive behavior related to the transfer and use of funds within PayPal’s digital wallet.
The FCA stated that no conclusions have been reached regarding whether the parties have violated competition laws. PayPal disclosed the investigation in a filing with regulators this week.
The FCA’s move focuses on how money is transferred and used within PayPal’s digital wallet ecosystem. There are no additional details yet about the scope of the investigation or when the agency will announce its findings.
A PayPal spokesperson said the company is cooperating with the FCA investigation and declined to comment further as the matter is ongoing.
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