Mastercard Faces UK Fine For Pre-Paid Cards 'Cartel'

Law360, London (March 31, 2021, 11:01 AM BST) -- Britain's payments watchdog set out provisional findings on Wednesday that five payment companies including financial giant Mastercard violated antitrust laws by operating a cartel for pre-paid card services, with three of them facing fines of up to £32 million ($44 million).

Mastercard and four other payment companies took part in anti-competitive behavior by agreeing not to compete, the payment regulator has said. (AP Photo/Elise Amendola) Mastercard, allpay, APS Payments, Prepaid Financial Services Ltd. (PFS) and Sulion Ltd. engaged in anti-competitive behavior by agreeing not to compete or poach each other's clients, the Payment Systems Regulator said.

The pre-paid cards at the...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!