PSR updates on competition in pre-paid cards sector

The PSR has publishes the non-confidential version of its decision following its investigation into two cartels in the pre-paid cards market. In January it confirmed its fines totalling around £33m on Mastercard, allpay, Advanced Payment Solutions, Prepaid Financial Services and Sulion following its finding that the parties breached competition law by agreeing not to compete or poach each others’ customers in relation to pre-paid cards used by local authorities to distribute welfare payments to vulnerable people.