Visa and Mastercard accused of market monopoly in UK
Visa and Mastercard face regulatory action in the United Kingdom following a payments watchdog’s investigation. The Payment Systems Regulator (PSR) is considering “remedies” for the two companies after uncovering a lack of competition in the card payment market, according to a Thursday (March 6) press release.“Cards are a popular and convenient way to make payments in the U. K., so any issues in the card market can have a negative impact on … businesses and ultimately consumers,” PSR Managing Director David Geale said in the release. “We have found that there is a lack of competition in the market and evidence that Mastercard and Visa might have been able to charge U. K. businesses millions of pounds more than they would in a properly competitive market, impacting on their ability to invest and grow.”The findings showed that Visa and Mastercard face “ineffective competitive constraints” in supplying scheme and processing services to acquirers and merchants, the release said. Fees have jumped by at least 25% since 2017, costing U. K. businesses at least an extra 170 million pounds (about $219 million) per year. The companies have not offered “sufficiently clear and detailed information” on fees, leading to worsening outcomes for merchants and acquirers, especially in terms of raising their costs, per the release.“They then have little choice but to either pass these increased costs onto consumers or incur the costs themselves, impacting their ability to invest,” the release said. Reached for comment by PYMNTS, a Visa spokesperson said the company’s fees reflect the “immense value” the company provides merchants, consumers and financial institutions.“This includes extremely high levels of security and fraud prevention, near-perfect operational resilience and reliability, and a wide range of consumer protections and high-quality products and services that serve consumer and merchant needs,” the company said. “Through our investments, the U. K. has been a global pioneer in payments technology.”Mastercard did not reply to PYMNTS’ request for comment.div>Mastercard did not reply to PYMNTS’ request for comment. The PSR’s action came as Mastercard’s and Visa’s place in the marketplace is being called into question elsewhere. For example, November brought a report that the European Commission was investigating whether the companies’ “scheme fees” were harming retailers. Also in November, the Senate Judiciary Committee convened a hearing on Visa’s and Mastercard’s fees, with Sen. Dick Durbin of Illinois, then-chair of the committee, accusing the companies of having a “stranglehold” on the credit card market.
Trending Now - TOP 100
1
Why Africa’s Mineral-Rich Countries Stay Poor: The Hidden Truth Behind Cobalt, Gold, and the Resource Curse, and Profit Shifting.
2
Crystal Palace stunned Liverpool to win the Community Shield
3
More than 50k Russian troops have deserted war from Ukraine
4
Michelle Obama Says America “Ain’t Ready” for a Woman President: Candid Remarks on Kamala Harris Loss and Gender Bias in 2025.
5
MIT Study Reveals AI's Fatal Flaw: Why ChatGPT Still Can't Understand 'No.
6
Why Your Phone Screen Is Shaking: Causes, Fixes, and Prevention Tips
7
Introducing Runfarbiz Network TV Global News software 2026
8
Elon Musks SpaceX to invest in xAI From $2 billion funding to $113 billion valuation.
9
Acidic Vokoz plans another major concert
10
WordPress Settings Required For Any Good Website Development And Clean User Interface
11
ARSENAL TO SIGN MADUEKE FROM CHELSEA
12
Types of Hacking Methods That Are Popularly Being Used By Hackers.
13
SPORTS: All transfer rumors
14
Man United receive key Marcus Rashford transfer exit 'approval' as £44.8m enquiry made
15
The health benefits of eating sugarcane on daily basis
16
YOU CAN CONTACT SYPHILIS IN YOUR EYES IF YOU ENGAGE IN THESE THREE THINGS.
17
Ugandans spend Shs 55bn a day on TikTok data - Report
18
What Is Agood Webhosting ?
19
Do These Simple Steps To Stop Mustarbation Addiction.
20
Kalaki Leaders Embark On Benchmarking Tour To Revive Education Standards At Top-Performing VH Public School
21
UPDF has disqualified More than 60000 Applicants In Intitail Phase Screening.
22
Runfarbiz Related Premium Offers Now Includes Investment, Subscription For Voice, Data & Airtime Bundles Options Updated.
23
Crazy Things Awife May Do To Mess Up Her Relationship
24
Kampala Traffic Jam Continues To Be Dominated By Bodaboda Riders & Taxis Amidst Coming Events.
25
Solomon Kampala, Son of Bobi Wine, Engages Mexican Partner Helen Jaquez in Stunning Lakeside Proposal
26
We are now operating on both Ads revenue Model and Subscription Offers Just like Spotify, TikTok, Deezer, Apple Music , Mdundo, Boomplay, YouTube Music, Facebook Streams , Latest Runfarbiz Network system Upgrade.
27
Billionaires Elon Musk and Mark Zuckerberg almost ended up in a cage fight over their competing social media platforms.
28
Nigerian researcher develops wireless charging tech for electric vehicles.
29
Africa aviation industry, Isaac Balami University of Aeronautics and Management, IBUAM, first aeronautics university Africa.
30
NRM Party Primary Elections Has Failed UpTo Ten Ministers , Report Confirmed by Electoral Commission Uganda.
31
The tech world was left stunned when Perplexity, the $18 billion AI startup led by Indian-origin CEO Aravind Srinivas, made an audacious $34.5 billion cash offer to acquire Google Chrome.
32
Two Suspected Ugandan Rebels Killed in Kampala Explosion.
33
Protect your soul, The world isn’t worth it.
34
Iran holds state funeral for military leaders killed in Israel conflict.
35
Fintechs Dominate Africa's Top Startup Valuations in 2025: Flutterwave, OPay, and Wave Lead the Unicorn List.
36
A comprehensive biography of Raila Odinga, exploring his journey from political detainee to Prime Minister, his five presidential bids, and his complex legacy in shaping modern Kenya.
37
Official Digital Transformation Update From Runfarbiz Network Admin, Try To Read To The Last Paragraph
38
The landscape of modern warfare is on the brink of a seismic shift, and China is at the forefront of this transformation.
39
Trump Health 2025 Perfect MRI No Idea What Body Part Was Scanned, Full Story.
40
Billionaire Telegram Founder Leaves His $14 Billion Fortune to the 100+ Children He’s Fathered—Which Means $132 Million for Each Lucky Gen Alpha Kid.
41
Assistant referee Peter Kabugo passes away during sports club Villa match against UPDF
42
Uganda Secures Over $2 Billion in World Bank Financing to Bolster Development.
43
Exposed Tricks How Some Financial Credit Institutions In The Names Of Money Lenders Are Stealing From Poor Ugandans .
44
Iran-Israel War: Origins, Casualties, Global Impact, and Future Projections.
45
Russia Begins Production of Advanced Oreshnik ICBM: A New Era in Strategic Capabilities.
46
The Opposition Claims Hundreds Of Tanzanian Protesters Around 700 Already Dead.
47
Why J Donald Trump Is Still Dominating American Politics
48
VINKA AND FIK FAMAICA TO LEAD MUBs GALA
49
Uganda Police Ban Campaign Processions and Ambulance Misuse as Bobi Wine Launches Kampala Campaigns in Kawempe | 2026 Elections.
50
UPDF Bids Farewell to Over 600 Retirees in Nationwide Ceremonies.
51
Uganda’s New Law Allowing Military Trials for Civilians.
52
Mdundo Temporarily Blocked My Music Page After Hitting 1 million Streams Plus, My 5 million Uganda Shillings Will be losts .
53
President Yoweri Museveni has promised to address two critical needs in Obongi District—electricity and better roads
54
SFC soldier shoots three dead in Agago
55
Best Music Affiliate Program This 2026 For Musicians.
56
Runfarbiz Network Improved Streaming Features Includes The Following.
57
Singer Daudi Mugema dies in Gulu
58
Six Dangerous Diseases You Can Catch Through Kissing _What You Need To Know.
59
Top Most Corrupt Institutions Made To Control Human Race Under The Financial Matrixs They Are Not Telling You.
60
Antoine Semenyo £65m Release Clause Active in January: Man City, Liverpool & Spurs Monitoring Bournemouth Star.
61
REPORT REVEALS ALARMING HUMAN RIGHT ABUSES IN KARAMOJA MINING SECTOR.
62
Uganda and Kenya Assure No War Over Indian Ocean Oil Dispute , Museveni Remarks, Mudavadi Response & EAC Diplomacy 2025.
63
The Secret Life of Squirrels: A Tale of Love, Loyalty, and Forests in the Making.
64
TotalEnergies Sued in Uganda Over Unpaid Bill for Toxic Fuel Depot Cleanup in Kampala.
65
U.S. President Donald Trump recently expressed admiration for Pakistan.
66
Daily USSD Codes for MTN UG and Airtel UG that may assist you when having some Emergencies.
67
UGANDA SIGNS BILATERAL AIR SERVICE AGREEMENT WITH OMAN.
68
Bunyoro Kingdom Rejects UCDA Rationalization, Calls for Increased Funding
69
_biography_–_the_rising_star_in_the_music_industry..jpeg)
DAX (Daniel Nwosu) Biography – The Rising Star in the Music Industry.
70
Qatar, UAE, Saudi Arabia, and other Gulf nations have shut down airspace amid rising tensions, causing massive flight cancellations and travel chaos. Latest updates here.
71
Bebe Cool Announces Release of New Single, ‘Circumference’
72
See why your always having sex on dreams, Secrets Exposed.
73
British firm discovers gold worth over $5B in western Kenya.
74
Arsenal Eye Move for Liverpool Wonderkid Joshua Abe | 15-Year-Old Right-Back Transfer News.
75
Auditor-General Demands Shs2 Trillion Forensic Tax Audit on Uganda Telecom Companies Over Revenue Discrepancies.
76
Microsoft has unveiled their new Copilot AI model
77
Uganda and Kenya Harmonise SGR Standards: Land Acquisition Accelerates for Malaba-Kampala Railway Project.
78
GOVERNMENT OF UGANDA TO RECRUIT OVER 2800 TEACHERS AHEAD OF NEW TERM.
79
UPC's Jimmy Akena Vows No Space for NRM in 2026 Elections: Uganda People's Congress Resurgence Ahead of General Polls.
80
Pakistan Tightens Cash Dollar Sales in Bid to Curb Outflow and Support Rupee.
81
Kylian Mbappé Breaks Messi Record: Youngest to 400 Career Goals Since Pelé at Age 26.
82
Stop praying like this, You will summon demonic forces from abyss without knowing
83
![Boywisky music official ft Bill Ranka Uganda have already released a new song titled "Yom Cwinya"](/rfpro/posts/boywisky_music_official_ft_bill_ranka_uganda_have_already_released_a_new_song_titled_"yom_cwinya".jpg)
Boywisky music official ft Bill Ranka Uganda have already released a new song titled "Yom Cwinya"
84
Causes and prevention of high blood pressure
85
Why Bobiwine Has Been Failing The Political Presidential Elections In Uganda.
86
25 Motivational Tips & Quotes that shall Inspire You.
87
Aliko Dangote Became The Richest Black Man In The World — And Now He Plans To Invest $1B In Industrial Projects In Zimbabwe.
88
UPDF SALUTS SEVEN GENERALS , AWAITING THEIR OFFICIAL RETIREMENT
89
CDF Kainerugaba On Behalf Of UPDF Is Planning To Reshuffle Their Generals Like GEN Elwelu.
90
SEE NAMES OF UGANDANS SHORTLISTED FOR GOVERNMENT PAYROLL JOBS AS HEAD TEACHERS, DEPUTIES IN KCCA SCHOOLS.
91
Toyota has unveiled a zero-emission internal combustion engine — something the world thought was impossible.
92
Museveni Urges Ugandans to Embrace Swahili for Commerce, Pledges 100 Million to Swahili Sacco
93
GOVERNMENT REDUCES ELECTRICITY TARIFFS TO EASE CONSUMER COSTS.
94
MANCHESTER UNITED HAVE REJECTED A £40MILLION OFFER FROM ITALIAN SIDE NAPOLI FOR ALEJANDRO GARNACHO.
95
In tit-for-tat, Zambia suspends Kenya Airways flights over country’s denial of access to Zambia Airways
96
Cloudflare Outage November 18 2025: Why the Internet Broke and How Cloudflare Actually Works Behind the Scenes.
97
H.E Yoweri Kaguta Museveni Is The Most Concerned Ugandan Patriot.
98
KAGINA PREPARES TO HAND OVER UNRA TO MINISTRY OF WORKS.
99
How to stay the happy life without money in your pocket
100
PAUL POGBA'S LONG-AWAITED RETURN TO FOOTBALL IS CANCELLED LAST-MINUTE DUE TO UNFORESEEN CIRCUMSTANCES '....AS FANS FUME OVER EX-MAN UNITED STAR BEING DENIED HIS COME BACK AFTER DOPING BAN.
RECENT CONTENTS
Jeff Bezos Reclaims No. 3 Richest Title From Sergey Brin After Amazon Store Closures
Jeff Bezos became the world’s third-richest person again on Tuesday while reclaiming the spot from Google cofounder Sergey Brin, who surpassed Bezos earlier this month, as Amazon shares rose after announcing it would shutter dozens of retail stores to expand its Whole Foods Market business. Shares of Amazon rose 2.4% to above $244 as of 3:15 p.m. EST, while Alphabet shares increased slightly (0.6%). An uptick for Amazon’s stock followed...
Read More
Saudi Giant Acquires 123-Year-Old South African Firm Barloworld in $1.3 Billion Deal
Saudi Arabia’s Zahid Group has completed its acquisition of South African industrial company Barloworld in a landmark deal valued at R23 billion (about $1.3 billion).
The transaction, finalized in January 2026, takes the 123-year-old firm private after more than a century on public markets and stands out as one of the most significant corporate cross-border deals between the Middle East and Africa in recent years.Barloworld’s shares will be delisted from...
Read More
Deputy CDF Okiding hails parade discipline ahead of Liberation Day.
Lt. Gen. Sam Okiding, the Deputy Chief of Defence Forces, has commended security forces for improving discipline and coordination as Uganda prepares to mark Liberation Day on Monday.
Speaking at Kololo Ceremonial Grounds after inspecting parade rehearsals, Lt. Gen. Okiding said earlier shortcomings in the drills had been addressed and expressed confidence that the country would stage a flawless national celebration. He said some simple mistakes had been corrected and that...
Read More
UNEB SPEAKS ON PLE 2026 RELEASE.
KAMPALA, Uganda — The Uganda National Examinations Board dismissed reports Wednesday that the release of the 2025 Primary Leaving Examinations results has been delayed by a recent internet shutdown.Jennifer Kalule-Musamba, the board’s principal public relations officer, said claims linking the results timeline to the Jan. 14 internet interruption are false. She noted the reports were intended to cause panic among candidates and parents.The marking, verification and quality assurance processes for...
Read More
Ghana Government Security Official Has Arrested 9 Nigerians Involved In Scamming 400000$ from 200 Cyber Crime Victims
Ghana's security forces have arrested nine Nigerians suspected of co-ordinating a host of cyber-crime activities from makeshift offices in and around the capital, Accra.
Forty-four others, believed to be victims brought to Ghana from Nigeria under false pretences, have also been detained and handed over to the immigration authority.
During the two-day intelligence-led operation, raids uncovered 62 laptops, 52 mobile phones and two pump-action guns, the authorities have said.
There is a growing...
Read More
Why Burkina Faso, Mali, and Niger Are Launching a Shared Telecom Satellite with Russia.
Burkina Faso, Mali, and Niger have taken a decisive step toward reshaping the Sahel’s digital and economic future, turning to Russia to build the region’s first shared telecommunications satellite. The project, discussed under the framework of the Alliance of Sahel States (AES), underscores the three countries’ growing emphasis on technological sovereignty, regional integration, and economic self-reliance amid shifting geopolitical alliances. According to officials cited by Business Insider Africa, the satellite...
Read More