The development enables Visa to join rivals Mastercard and American Express in competing for a share of China's payments market. The company is scheduled to report its next quarterly earnings on Oct 27 after the market closes.
Tuesday, October 20, 2026
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Visa Wins Approval for First China Bank Card Clearing Move
Business8 days ago
The central bank of China authorized the US payments firm to start preparations for a domestic bank card clearing operation within the country. The People's Bank of China granted the permission to establish a clearing business, which will allow the company to move toward processing transactions locally. Visa's CEO stated that the company looks forward to taking the necessary steps in the regulatory process to begin operating domestically.
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