UK FCA PROBES PAYPAL, VISA, MASTERCARD

The FCA's investigation marks a rare deployment of its competition law enforcement powers. The regulator is examining whether the three payments giants have engaged in practices that restrict fair competition in the digital payments market. Visa stated the investigation specifically concerns PayPal's digital wallet offering, though full details of the alleged violations remain limited. The move suggests potential concerns about how the major payment processors handle wallet functionality or restrict competitor access. PayPal has positioned its digital wallet as a key competitive tool against traditional card networks. The investigation could have significant implications for how these companies structure their services and compete in the rapidly evolving digital payments space. Neither PayPal nor Mastercard has publicly commented on the investigation. The FCA's action underscores growing regulatory scrutiny of major payment networks globally, with competition authorities increasingly focused on digital payment ecosystems.