Visa Approved to Prepare for Bank Card Clearing Institution in China

According to Visa's official service account on October 13, Visa has been officially approved by the People's Bank of China to prepare for the establishment of a bank card clearing institution within China. Visa will continue to complete subsequent work and conduct bank card clearing business in China. Visa CEO McInerney stated that the approval of this preparation application is another significant milestone in Visa's long-term commitment to serving the Chinese market. The company looks forward to actively carrying out follow-up work in accordance with the relevant regulatory requirements of the People's Bank of China, striving to commence operations in the country as soon as possible.