Yhn BusinessBusiness first seen 4 d ago, last 1 h ago, peak #9
Visa gets Beijing's green light for bank card business
Visa has received approval from Chinese regulators to operate its domestic bank card business in China, according to a CNBC report. The green light from Beijing would allow the US payments giant to process transactions in the country's domestic card market, long closed to foreign networks. The development is being discussed as a notable opening of China's financial sector to Western firms.
Why now: Regulatory approval for a major US payments company to enter China's domestic card market is a significant development in US-China financial relations.
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