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 its latest report, the CMA's investigation found that while there were no major issues with the deal, it was still subject to "substantial concerns" about whether competition would be affected.
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.