✉news BusinessBusiness first seen 14 d ago, last 53 min ago, peak #1
Visa Wins Approval to Prepare for China Payments Business
Visa has received approval to begin preparations for launching a payments business in China, according to a Wall Street Journal report. The move marks a step toward the US card network setting up domestic operations in the country, where foreign payment firms have long faced regulatory barriers. The approval signals gradual opening of China's payments market, though further licensing steps remain before Visa can process transactions locally.
Why now: China's payments market is huge and largely closed to foreign card networks, so any regulatory approval is a significant business development
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