A PYMNTS Company

UK: PayPal’s iZettle deal raises antitrust concerns

By  |  November 26, 2018

PayPal’s US$2.2 billion acquisition of European financial-technology startup iZettle is being scrutinized by the UK antitrust watchdog over concerns the deal could lead to higher prices for payment services and reduce competition, reported The Wall Street Journal.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    PayPal, which closed the deal in September, could ultimately face pressure to unwind part of the transaction that centers on the companies’ businesses in the UK unless it addresses the concerns from the Competition and Markets Authority (CMA) in that market.

    “We are now working to address the CMA’s concerns and demonstrate that the market will remain competitive, so we can move forward with integrating iZettle into our global platform,” a PayPal spokesman wrote in an emailed statement.

    Full Content: Wall Street Journal
    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.