PayPal said the UK Financial Conduct Authority (United Kingdom financial regulator) is examining payment fund flows and how the PayPal digital wallet uses Mastercard and Visa, while the regulator has not concluded whether competition law was broken.
The UK Financial Conduct Authority (United Kingdom financial regulator) is investigating Mastercard, Visa and PayPal over suspected anti-competitive conduct linked to fund flows and the use of Mastercard and Visa within the PayPal digital wallet. PayPal disclosed the probe this week and said it is cooperating. The regulator stated it has not reached a conclusion on whether competition law was breached. The case centers on digital payments infrastructure rather than a cryptocurrency product, but wallet access and payment routing are closely watched across the broader digital asset market because they can affect how users move money into online financial platforms.