EMEA

Mastercard’s $920 million acquisition of VocaLink hasn’t cleared all the regulatory hurdles yet, but it’s closer to the finish line now that the U.K. Competition and Markets Authority (CMA) has said it will consider a strategic solution Mastercard has proposed to offset potential threats to competition.

The Financial Conduct Authority has given the green light to Geoswift, the Hong Kong-based cross-border payments company, to operate collection and settlement services between the U.K. and China.

Mastercard Inc. preyed on more than 46 million unknowing consumers by unfairly charging card fees over a 16-year period, lawyers seeking to bring a 14 billion-pound ($17.2 billion) class-action lawsuit told a London court.

The U.K.’s Competition and Markets Authority (CMA) is on the verge of announcing its decision in its regulatory review of Mastercard’s acquisition of VocaLink, the London-based agency said.

German car maker Daimler AG has acquired PayCash Europe SA as part of its plans for a broad range of new vehicle-related mobile payment services dubbed “Mercedes Pay," in the latest deal linking automobile manufacturers with payment providers.

Payment companies' efforts to modernize by connecting systems through partnerships and acquisition has invariably caused a chain reaction of competitive issues in the eyes of regulators.

Swedish mobile point of sale company iZettle has raised about $80 million in funding, in part from U.S. investors.

British consumers, who helped the economy emerge largely unscathed from the Brexit vote, now face their next big health check.

When Diebold wrapped up its $1.8 billion Wincor Nixdorf acquisition last August, there was one asterisk on the deal: The U.K. Competition and Markets Authority (CMA)—which this week threw a flag on Mastercard’s proposed acquisition of VocaLink—wanted to explore whether the ATM network giants’ merger stifled local competition.

Mastercard's $900 million acquisition of British payment company VocaLink is under fire, as the U.K.'s Competition and Markets Authority contends the deal will give the card network an unfair advantage in ATM-related negotiations.