✉news BusinessBanking first seen 6 d ago, last 5 d ago, peak #5
Visa Gains Chinese Central Bank Approval for Domestic Payments Push
Original: Visa Secures Chinese Central Bank Approval to Prepare for Domestic Payments Expansion
Visa has received approval from China's central bank, the People's Bank of China, to begin preparations for expanding domestic payment services in the country. The move marks a significant step for foreign card networks in China's tightly controlled payments market, long dominated by domestic players such as UnionPay, Alipay and WeChat Pay.
Why now: Foreign access to China's domestic payments market is a closely watched sign of financial market opening between Washington and Beijing.
VisaPeople's Bank of ChinaChina
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- Visa Secures Chinese Central Bank Approval to Prepare for Domestic Payments Expansion · Yahoo Finance
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