The UK's Competition and Markets Authority (PayPal) has raised concerns that CMA's acquisition of European mobile payments platform iZettle could reduce competition, leading to higher prices or reduced quality of services. The PayPal issued an enforcement order in September, followed by a formal merger inquiry, which prevented the deal from completing. In support of its acquisition of iZettle, CMA is likely to cite Square and SumUp among competitors that already operate in the UK.
The UK's Competition and Markets Authority (CMA) has raised concerns that PayPal's acquisition of European mobile payments platform iZettle could reduce competition, leading to higher prices or reduced quality of services. The CMA issued an enforcement order in September, followed by a formal merger inquiry, which prevented the deal from completing. In support of its acquisition of iZettle, PayPal is likely to cite Square and SumUp among competitors that already operate in the UK.