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The UK launches an anti-competitive behavior investigation into Mastercard, Visa, and PayPal
ME News Report, May 6 (UTC+8), the UK financial regulatory authority announced that it has launched investigations into Mastercard (MA.N), Visa (V.N), and PayPal (PYPL.O) due to suspected anti-competitive behavior related to the flow and use of funds in PayPal’s digital wallet. The UK Financial Conduct Authority stated on Wednesday that no conclusion has yet been reached regarding whether the companies involved have violated competition laws. PayPal disclosed this investigation in a regulatory document this week. A PayPal spokesperson said the company is cooperating with the FCA investigation, but will not comment further as the case is still ongoing. (Source: PANews)