Business · 3 hours ago
China Approves Visa to Prepare Domestic Card Payments Business
Elma.bejtovic via Wikimedia Commons (CC-BY-SA-4.0)
China's central bank has approved Visa's application to start preparing a domestic bank card clearing business, six years after the US firm applied. The move could let Visa process yuan payments inside China, a market long dominated by UnionPay, WeChat Pay and Alipay. Mastercard and American Express already won similar approval. One analyst linked the timing to Trump and Xi Jinping's expected meeting next month.
Reported by CNBC · How we write briefs