Mastercard and Visa Dominate Market; IMF Assessment of UK Economy
Tuesday, 21 May 2024, 06:36
Regulator's Concerns:
Chris Hemsley, managing director of the Payment Systems Regulator, points out issues with the card market in the UK, including rising fees and lack of transparency.
Market Evaluation:
- Competition not protecting businesses effectively
- No effective competition to Mastercard and Visa
- Limitations in choice and alternative providers for optional services
This assessment leads to the conclusion that the market is not working well.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.