2026-10-13 · South China Morning Post
🔮 China gives green light to Visa for local clearing organisation after years-long wait
People’s Bank of China will allow the US card payment giant to set up a local entity to process domestic transactions within its network
The People’s Bank of China on Tuesday gave its approval to Visa to make preparations for a locally registered bank card clearing organisation, calling the move a major step in the country’s financial opening up in an online statement. mixed