UK regulator fines Mastercard, others for prepaid cards cartel

FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White

LONDON (Reuters) - Britain's payments regulator on Tuesday fined five payments companies including Mastercard a total of 33 million pounds ($45.01 million) for cartel behaviour involving prepaid cards issued to vulnerable people on welfare benefits.

Mastercard received the largest fine of 31.56 million pounds ($43.04 million). The other companies fined were allpay, Advanced Payment Solution, Prepaid Financial Services and Sulion.