$6.6 billion fintech Wise accused by rival of harming competition
Publishing timestamp: 2023-01-27 07:29:44
Summary
Wise, a public company, has been accused by rival fintech company Atlantic Money of undermining competition in the money transfer market. Atlantic Money has written a letter to the U.K. Competition and Markets Authority alleging that Wise unfairly removed it from its price comparison section and refused to include it on its foreign exchange fee comparison site. Wise has responded that it removed Atlantic Money for operational reasons and that it is proud to list cheaper competitors. The letter could be a precursor to a probe investigating whether Wise's conduct breaches competition law.
Sentiment: NEGATIVE
Tickers: WISE-GB,
Keywords: internet, fintech, technology, markets, wise plc, venture capital, business news,