Yes - See Below:
The MasLife Prepaid Mastercard is issued by Prepaid Financial Services Limited pursuant to a license from Mastercard International Incorporated. Prepaid Financial Services Limited is authorized by the Financial Conduct Authority under the Electronic Money Regulations 2011, firm reference number 900036, for the issuance of electronic money and provision of payment services
Registered Office: Fifth Floor, Langham House, 302-308 Regent Street, London, W1B 3AT. Company Registration number: 06337638.
Prepaid Financial Services Limited, as a regulated Electronic Money Institution (“EMI”) and per regulation 20 of the Electronic Money Regulations (“EMRs”) 2011, adopts all steps necessary to segregate and safeguard funds received in exchange for e-money that has been issued. This includes segregating client funds into designated accounts with authorised credit institution(s) / custodian(s). Acknowledgement letters from each authorised credit institution(s) and custodian(s) are in place, outlining that the funds and assets in the safeguarding account(s) are held for the benefit of the firm’s customers and that no institution or custodian has interest in, recourse against or right over the relevant funds or assets in the safeguarding account.