HARRISON (dpa-AFX) - The Payment Systems Regulator in the UK has fined Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion as they were found to infringe competition
UK's payment regulator has fined Mastercard, along with four other companies, for anti-competitive behavior in the prepaid cards market which could have resulted in higher prices paid by local authorities to distribute welfare payments among vulnerable members of society.
<h3><span>The PSR concludes its investigation into two cartels in the prepaid cards market by deciding that five parties have broken competition law and imposing fines on them. </span> </h3>