Electronic Payments10d agobearish
UK FCA opens competition investigation into PayPal, Visa and MastercardThe FCA’s move comes amid rising digital wallet usage in the UK.
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The Wall Street Journal11d agobearish
PayPal, Visa, Mastercard Probed by UK RegulatorsPayPal Holdings, Visa and Mastercard are under investigation by U.K. authorities for anticompetitive conduct related to PayPal's digital wallet. The Financial Conduct Authority, the finance regulator in the U.K., said Wednesday that it "has reached no conclusions nor made any findings" that competition law had been broken. Shares in Visa and Mastercard fell 1% and 1.4%, respectively, while PayPal shares were down about 0.33% as the broader market surged.
