UK Watchdog Investigates Whether Visa, Mastercard and PayPal Digital Wallet Deals Restrict Competition in Fast-Growing Payments Market
The FCA has opened an investigation into Visa, Mastercard and PayPal over whether their digital wallet agreements may be limiting competition in the UK. At the same time, Mastercard is also involved in a separate pilot with banks and crypto firms to test faster cross-border settlement using tokenised US Treasuries.
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