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