✉news BusinessBusiness first seen 14 d ago, last 9 h ago, peak #1
Visa Wins Approval to Prepare for China Payments Business
Visa has received approval to prepare for launching a payments business in China, according to a Wall Street Journal report. The move would give the US card giant a foothold in one of the world's largest payments markets, long dominated by domestic players like UnionPay and mobile services from Alibaba and Tencent.
Why now: Foreign card networks gaining access to China's tightly controlled payments market is a rare and consequential opening for global finance.
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