All news

UK regulator launches investigation into Mastercard, PayPal, and Visa

Details of the investigation have not been disclosed

LONDON, May 6. /TASS/. The UK's Financial Conduct Authority (FCA) has launched an investigation into the international payment systems Mastercard and Visa, and the payment service PayPal, on suspicion of violating UK competition laws.

"We can confirm we are investigating Mastercard, PayPal and Visa <...> for suspected anti-competitive conduct linked to the funding and usage of PayPal’s digital wallet," the regulator said in a press release published on its website.

Details of the investigation have not been disclosed. The FCA has not yet reached any conclusions and is currently gathering evidence.

According to Reuters, digital wallet usage has risen sharply in the UK. Last year the share of card transactions using a digital wallet jumped to 29%, compared to 8% in 2023.