✉news BusinessBusiness first seen 5 d ago, last 5 d ago, peak #12
Visa wins approval to prepare bank card clearing business in China
Original: Visa wins approval to prepare a bank card clearing business in China
Visa has received regulatory approval to prepare to operate a bank card clearing business in China, a significant step for a foreign payments company in a market long dominated by domestic networks like UnionPay. The move follows China's gradual opening of its card clearing sector to international firms, giving Visa a path to process domestic payments in the country.
Why now: China's opening of its card payments market to foreign firms is a major development in global finance.
Evidence
- Visa wins approval to prepare a bank card clearing business in China · The Seattle Times
- Visa wins approval to prepare a bank card clearing business in China · News4JAX
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