✉news BusinessBanking first seen 4 d ago, last 3 d ago, peak #6
Visa Wins Central Bank Approval To Clear Card Payments In China
Original: Visa Secures Central Bank Approval To Launch Domestic Bank Card Clearing Business In China
Visa has received approval from China's central bank to launch a domestic bank card clearing business in the country. The move would allow Visa to process domestic payments in China directly, a market long dominated by state-backed UnionPay and largely closed to foreign card networks. It marks a significant step in the gradual opening of China's financial services sector to foreign firms.
Why now: It signals a major opening of China's tightly controlled domestic payments market to a foreign card network.
VisaPeople's Bank of ChinaChinaUnionPay
Rank over time, top of the chart is #1. 13 snapshots from 4 d ago to 3 d ago.
Evidence
- Visa Secures Central Bank Approval To Launch Domestic Bank Card Clearing Business In China · Yahoo Finance
- Visa Secures Central Bank Approval To Launch Domestic Bank Card Clearing Business In China · TIKR.com
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