BUZZ — Visa rises after securing Chinese approval for card — clearing business preparations

* Visa shares gain 1.6% to $395.66 premarket * The credit card giant receives China's approval to prepare for a domestic bank card-clearing business * Nod a major step for V to entering one of the largest payment markets * Rivals Mastercard, American Express already in business * Visa has a year to complete preparations before applying for license, the People's Bank of China said * Year through last close: V ahead 10.99%, AXP down 15.80% and MA up 4.24% (Reporting by Jayasree Prabhu) ((jayasree.prabhu@thomsonreuters.com)