UK FCA Probes Payments Giants Over PayPal Wallet #
The UK’s Financial Conduct Authority is investigating PayPal, Mastercard and Visa over suspected anti-competitive conduct linked to the funding and use of PayPal’s digital wallet. The probe is being carried out under the Competition Act 1998, with Mastercard and Visa also facing scrutiny over potential abuse of a dominant market position
The investigation matters because it puts major payments networks and digital wallet arrangements under closer UK regulatory review. The FCA said it has not reached any conclusions or found that competition law has been broken, while the companies have said they are cooperating with the inquiry.