Mastercard is among five companies which broke the law for cartel behaviour when offering pre-paid cards to vulnerable members of society, Britain's Payment Systems Regulator said on Wednesday.
Mastercard, allpay, APS, PFS and Sulion agreed not to compete or poach each other's customers on cards used by local authorities for welfare payments to the homeless, victims of domestic violence and asylum seekers, the PSR said.The investigation is ongoing and the companies can make representations on the provisional findings, the PSR said.
"Pre-paid card services, like these, can provide significant benefits to local authorities as one way to make welfare payments to some of the most vulnerable people in society," said Chris Hemsley, managing director of the PSR.
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