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Visa obtains approval from China's central bank to prepare for domestic payment business

The Wall Street Journal +3 ·

V Visa Inc
$389.27 +0.99%
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  1. 1Visa Inc received approval from China's central bank on Tuesday to begin preparations for establishing a domestic bank card payment institution.
  2. 2CEO Ryan McInerney said this approval is a significant step in the company's ongoing commitment to China, where it has operated for over 40 years.
  3. 3Visa operates a global payment network spanning more than 200 countries and regions.

So what's the key point?

Visa is now able to start its local bank card payment business in China. This approval is an important step for Visa to continue its operations in the Chinese market.

Source The Wall Street Journal +3 · View original ↗

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