fintech / news / / Reuters
PayPal, Mastercard and Visa say they are cooperating with the FCA.
The FCA is investigating PayPal's contractual agreements with Mastercard and Visa for competition issues.
KEY POINTS
- Mastercard and Visa received FCA information notices regarding their relationships with PayPal's digital wallet.
- Digital wallet card transaction usage in Britain jumped to 29% from 8% in 2023.
- This FCA probe follows joint regulator reports raising specific competition concerns with digital wallet providers.
- Britain's antitrust watchdog previously secured commitments to enhance fairness and interoperability among major digital wallets.
COMPANIES
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