FCA launches probe into PayPal, Mastercard and Visa

(Sharecast News) - The Financial Conduct Authority said on Wednesday that it has launched an investigation into suspected anti-competitive behaviour between PayPal, Matercard and Visa. The regulator said in a brief statement that it is investigating Mastercard and PayPal under Chapter I in the Competition Act 1998, and Mastercard and Visa under Chapter II, for "suspected anti-competitive conduct linked to the funding and usage of PayPal's digital wallet".

The FCA said it has reached no conclusions nor made any findings with regard to competition law having been broken.