Visa Receives Clearance to Bring Card Business to China
By PYMNTS
AI summary of the source article
Visa announced that the People’s Bank of China approved its "Application to Prepare." The clearance permits the payments company to begin establishing a domestic bankcard clearing operation in China.
Key facts
- Visa announced on Tuesday (Oct. 13) that it received permission to bring its card business to China.
- The People’s Bank of China (PBOC) approved Visa's "Application to Prepare."
- The approval permits Visa to start setting up a domestic bankcard clearing operation in China.
Source excerpt · PYMNTS
Visa has been granted permission from China to bring its card business to that country. The American payments giant announced Tuesday (Oct. 13) that the People’s Bank of China (PBOC) had approved its “Application to Prepare,” which lets Visa begin work on setting up a domestic bankcard clearing operation in China. The company called the […] The post Visa Receives Clearance to Bring Card Business t…