Visa makes progress in China, but still faces hurdles

T1Covered by 1 source · first reported by American Banker (headlines) at 13 Oct, 19:53 UTC

U.S. payment companies have struggled to gain a foothold in China, but Visa has made progress, receiving approval from the People's Bank of China to prepare to establish a domestic card clearing business in the world's largest payment market. But it still has to apply for a full operating license.

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Sources

• T1Visa makes progress in China, but still faces hurdlesAmerican Banker (headlines)13 Oct, 19:53