PayPal

Ticker PYPL

Today's data summary

Market closed
% change
+0.55%
Price US dollars
116.04
Change
+0.64
As of 19:09 18 Jan 2020
Market cap. US dollars
136,021.24 million
As of 19:09 18 Jan 2020

Latest updates

Paypal merger could 'lead to higher prices'

Paypal sign
Getty Images

Commenting on the CMA's investigation into the proposed $2.2bn merger between US payments company PayPal and Swedish start-up iZettle, Mike Cherry of the Federation of Small Businesses said: “The CMA is absolutely right to scrutinise this potential acquisition on behalf of smaller businesses.

"It’s vital that – if completed – the merger doesn’t lead to even higher prices for card processing services or stifle much-needed innovation."

Paypal merger faces CMA probe

Paypal on a phone
Getty Images

The competition watchdog has raised concerns about the $2.2bn merger between US payments company PayPal and Swedish start-up iZettle.

The Competitions and Markets Authority said the tie-up could push up prices and reduce the range of services on offer to customers.

It warned: "PayPal could face insufficient competition in the UK after acquiring its market-leading rival."

It said that the merger will be referred for an in-depth Phase 2 investigation, to be carried out by a group of independent CMA panel members, if the two firms don't address the concerns.