Payment Systems Regulator flexes muscles in high profile competition law case

Posted on 19th January 2022

Blake Morgan LLP was pleased to advise their client, Sulion Limited, in a recent high profile investigation relating to cartels by the Payment Systems Regulator (“PSR”). This is believed to be the PSR’s first competition law case, and its largest investigation to date.

The investigation related to cartels in the prepaid cards market in the UK, and ultimately concluded that the five parties infringed competition law by agreeing not to compete or poach each other’s customers in the prepaid cards market in Great Britain. Mastercard who sponsored the network, were given a fine of over £31.5 m, and PFS, allpay and APS were given fines between them totalling £1.7m. Blake Morgan’s client was fined £572.

Partner Mark Jones led the team for Blake Morgan, working with Selva Ramasamy QC and Tom Broomfield of QEB Hollis Whiteman.

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