Financial Services Financial Services

Mastercard’s role in UK prepaid-cards cartel leads to GBP31 million fine by payments regulator

By Simon Zekaria
  • 18 Jan 2022 06:08
  • 18 Jan 2022 06:08
Mastercard and four other prepaid credit card companies have been fined more than 33 million pounds ($45 million) collectively by a UK watchdog for operating two cartels that hurt local authorities and consumers.
The Payment Systems Regulator said that, over six years from 2012, the parties broke competition rules by colluding

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Simon Zekaria

Senior Correspondent


Simon Zekaria is a senior correspondent in London, covering UK regulation. Prior to joining MLex, Simon reported on business news for The Wall Street Journal, including on telecommunications, media, technology and consumer affairs. Simon was also a writer for the WSJ on diverse subjects such as Brexit, UK politics and global sport. Simon was previously a correspondent on competition issues and European politics for Thomson Reuters and Agence France-Presse in Brussels. Simon is a graduate of Edinburgh University, with Masters degrees in literature and law. A French speaker, he has studied at the Sorbonne University, Paris.

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