United Kingdom

On behalf of the team

On 18 January 2022 the UK economic regulator for the payment systems industry, the Payment Systems Regulator Limited (PSR), fined five companies more than 33 million pounds for cartel behaviour in the prepaid cards market.[1]Decision of the PSR of 18 January 2022 on anti-competitive conduct in the prepaid card services sector. The companies fined are Mastercard Inc., Allpay Ltd, Advanced Payment Solutions Ltd, Prepaid Financial Services Ltd and Sulion. The larger part of the fine was imposed on Mastercard Inc. The PSR concluded that the five parties infringed competition law by agreeing to not compete or poach each other’s customers in the prepaid cards market in Great Britain. This meant less competition and less choice for local authorities that used the prepaid cards for distributing welfare payments to vulnerable customers.