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Daniel Ruhman

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Cumbuca
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Daniel Ruhman

The Regulatory Rat Race: How Instant Payments Are Breaking Traditional Banking Alliances

Visa and Mastercard are applying for payment licences in Brazil. Read that again. These are the two companies that spent decades building their business on partnerships—relying on issuing banks to do the operational work whilst they collected interchange fees. Now they are going direct. They are competing with the very institutions that made them ...

15 October 2025 /payments

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