Mastercard fined £31.5m over illegal UK prepaid cards cartel

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Five firms fined total of £33m for agreeing not to compete with each other for local council business

Photograph: Roberto Machado Noa/Rex/ShutterstockPhotograph: Roberto Machado Noa/Rex/ShutterstockFive payment companies including Mastercard have been fined a total of more than £33m for operating illegal cartels when providing prepaid cards for local authorities to distribute to vulnerable people.

 

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