Competition Act 1998 investigations | FCA

https://www.fca.org.uk/news/press-releases/competition-act-1998-investigations

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2026-05-07 07:57:25 · csoo@vixio.com

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We are investigating Mastercard, PayPal and Visa under Chapter I of the Competition Act 1998, and Mastercard and Visa under Chapter II of the Competition Act 1998, for suspected anti-competitive conduct linked to the funding and usage of PayPal’s digital wallet.

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TITLE: Financial Conduct Authority Investigates Mastercard, PayPal and Visa Under Competition Act 1998 BODY: On May 6, 2026, the Financial Conduct Authority (FCA) announced it is investigating Mastercard, PayPal and Visa under Chapter I of the Competition Act 1998, and Mastercard and Visa under Chapter II of the Competition Act 1998. The investigations follow the publication of financial reporting by PayPal Holdings Inc and concern suspected anti-competitive conduct linked to the funding and usage of PayPal's digital wallet. The FCA has reached no conclusions or made any findings regarding whether competition law has been broken. Chapter I of the Competition Act 1998 prohibits agreements, concerted practices and decisions by associations of undertakings that may prevent, restrict or distort competition within the UK or affect trade within the UK, unless excluded or exempt. Chapter II prohibits conduct amounting to abuse of a dominant position in a market that may affect trade within the UK. The FCA is currently gathering evidence in these cases. The authority may proceed to issue a statement of objections setting out its provisional view that an infringement of the law has occurred. If a statement of objections is issued, the addressees will be provided with an opportunity to make written and oral representations before the FCA makes a final decision on whether the law has been broken. Not all cases result in the issuance of a statement of objections. The FCA's powers and procedures under the Competition Act 1998 are separate and different from those followed in relation to enforcement of the Financial Services and Markets Act 2000. Competition Act 1998 cases may also be brought by the Competition and Markets Authority. REFERENCES: Financial Conduct Authority. "Competition Act 1998 Investigations." Press Release, May 6, 2026. https://www.fca.org.uk/news/press-releases/competition-act-1998-investigations

Competition Act 1998 investigations | FCA Competition Act 1998 investigations Press Releases First published: 06/05/2026 Last updated: 06/05/2026 Following the publication of financial reporting by PayPal Holdings Inc, we can confirm we are investigating Mastercard, PayPal and Visa 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. Notes to editors The Competition Act 1998 prohibits agreements, practices and conduct that may damage competition in the UK. The Chapter I prohibition in the Competition Act 1998 prohibits agreements, concerted practices and decisions by associations of undertakings which have as their object or effect the prevention, restriction or distortion of competition within the UK or a part of it and which may affect trade within the UK or a part of it unless they are excluded or exempt. The Chapter II prohibition in the Competition Act 1998 prohibits conduct which amounts to the abuse of a dominant position in a market, and which may affect trade within the UK. The powers and processes that the FCA has and follows in relation to the Competition Act 1998 are separate and different from those followed in relation to enforcement of the Financial Services and Markets Act 2000. Further detail on the FCA’s procedures in CA98 cases is available in our CA98 guidance . Competition Act 1998 cases may also be brought by the Competition and Markets Authority. The FCA is currently gathering evidence. The FCA may proceed to issue a statement of objections setting out its provisional view that there has been an infringement of the law. Not all cases result in the FCA issuing a statement of objections. If the FCA ultimately proceeds to issuing a statement of objections, it will provide the addressee(s) of that statement of objections with an opportunity to make written and oral representations, before it makes a final decision on whether the law has been broken. Was this page useful? Yes No What can we do to improve pages like this? What did you find helpful? Submit Feedback Leave this field blank Print Page Linkedin Twitter Share page Media Centre Press releases and contacts for journalists and other media Sign up to receive daily and weekly news and publications email alerts

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