China Approves Visa to Prepare for Domestic Bankcard Clearing Institution
Visa said it received approval from China’s central bank to begin preparing to establish a domestic bankcard clearing institution, bringing it closer to entering China’s domestic payments market.
Visa Inc. (V) said Tuesday that China’s central bank approved its application to begin preparations for a domestic bankcard clearing institution. S. payments network closer to entering China’s domestic payments market.
Visa shares rose more than 1% in the overnight session.