acquirers and merchants dont overlook them

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Amidst all the hype about new payments methods and channels, it’s easy to ignore smaller, single-market players – but to do so would be a mistake.

Domestic payment schemes accounted for 12% of all global payments last year – and they’re adapting strongly for the digital environment.

New research from RBR shows that several big markets are seeing a rapid increase in domestic scheme branded cards.

India, Russia and Brazil stand out in particular, with growth driven by schemes like RuPay, Mir and ELO.

In Russia, the growth of Mir is down to public sector workers receiving their salary payments

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MS Amlin launches reinsurance sidecar Phoenix 1 Re

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MS Amlin Asia Pacific (MS AAP) has launched a local special purpose reinsurance vehicle (SPRV) known as Phoenix 1 Re Pte Ltd in Singapore.

The new reinsurance sidecar will provide collateralised capacity to support MS Amlin Syndicate 2001’s Asia reinsurance portfolio through its Singapore-based underwriting platform, a statement from the company said.

Phoenix 1 Re has US$42 million of collateralized capacity, providing alternative capital investors access to MS Amlin’s strong historical performing and diverse regional portfolio, which spans over 10+ territories, specifically excluding key peak perils, such as Japan and Australia. Around half of the capacity came from Asia-based investors

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Brexit is done – what are the impacts on the payments industry?

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Brexit is done, and its done with a trade deal. We look at what this means for payments in the short to medium term, from passporting rights to staffing, interchange rates and digital ID.

Depending on your thinking, Brexit could be anything from a deluded attempt to recover Britain’s nineteenth century glories through to escaping from a debt-ridden, sclerotic trading bloc-cum-superstate.

While such lofty debates don’t concern us here, Britain’s decision to leave the EU generates significant risks for payments, from doing business with European markets to staffing, interchange fees and the future implementation of Open Banking and digital ID.

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US Banks and may use stablecoins for payment activities

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The Office of the Comptroller of the Currency (OCC) has published a letter clarifying national banks’ and federal savings associations’ authority to participate in independent node verification networks (INVN) and use stablecoins to conduct payment activities and other bank-permissible functions.

US Banks and may use stablecoins for payment activities

“While governments in other countries have built real-time payments systems, the United States has relied on our innovation sector to deliver real-time payments technologies,” said Acting Comptroller of the Currency Brian P. Brooks.

“Some of those technologies are built and managed by bank consortia and some are based on independent node

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