PayPal, Mastercard, Visa under investigation by U.K.’s FCA

The U.K.’s Financial Conduct Authority said in a statement: “Following the publication of financial reporting by PayPal Holdings Inc (PYPL), we can confirm we are investigating Mastercard (MA), PayPal and Visa (V) under Chapter I in the Competition Act 1998, and Mastercard and Visa under Chapter II in the Competition Act 1998, for suspected anti-competitive conduct linked to the funding and usage of PayPal’s digital wallet. The FCA has reached no conclusions nor made any findings with regard to competition law having been broken.”