UK’s payment regulator has fined Mastercard, along with four other companies, for anti-competitive behavior in the prepaid cards market that could have resulted in higher prices paid by local authorities to distribute welfare payments among vulnerable members of society.
On Tuesday, the Payment Systems Regulator (PSR) imposed fines totaling more than ($44.86 million) on the five parties—MasterCard ($42.90 million), Prepaid Financial Services (PFS) ($1.25 million), allpay ($38,804), Advanced Payment Solutions (APS) ($1.03 million), and Sulion ($777).
