Visa receives approval to operate a domestic payments business in China
Visa received approval from China's central bank to offer bank card clearing services in the country. The approval allows Visa to begin operations in China's payments market. American Express also received a processing license in June 2020. Visa has one year to finalize operations before final authorization.
- Visa received approval from the People's Bank of China to offer bank card clearing services in China.
- Visa has one year to complete advance arrangements for operations in China.
- American Express received its processing license in June 2020.
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