The UK’s Financial Conduct Authority is investigating PayPal, Mastercard and Visa for alleged anti-competitive conduct related to the funding and usage of PayPal’s digital wallet, the regulator said, in a rare exercise of its competition powers.
The financial regulator said it had reached no conclusions about whether the firms had broken competition law.
The investigation relates to potential breaches of the UK Competition Act 1998, which prohibits practices that may distort competition or trade.
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Market dominance
