Payments Watchdog To Focus On Competition After UK Probe

By Najiyya Budaly (January 14, 2022, 2:13 PM GMT) -- Britain's payments regulator has said it will focus on ensuring that competition is working well in the sector over the next year, after senior MPs expressed concerns about Visa and Mastercard's dominance in the market.

The Payment Systems Regulator said on Thursday that competition will be one of its top priorities in 2022. The watchdog said in a so-called strategy document that it plans to promote competition between payment services because this will lead to better and more affordable services for consumers.

The regulator said that it is not clear whether there is sufficient competition in retail payment methods as the...

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