Visa Receives Approval to Begin Preparations for a Domestic Business in China
Business Wire•13/10/2026•00:11 ET
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Key Highlights
- ➤Visa receives PBOC approval to prepare a domestic bankcard clearing institution in China
- ➤Approval allows Visa to begin formal preparations for domestic payments operations
- ➤Visa targets entering China’s domestic payments market after completing regulatory requirements
Expert Statements
Ryan McInerney, Chief Executive Officer of Visa
“The approval of our Application to Prepare marks a significant step forward in Visa’s long-standing commitment to China. We greatly appreciate the important role of the leaders of the United States and China in pursuing a constructive and strategically stable relationship between the world’s largest economies.”
Ryan McInerney, Chief Executive Officer of Visa
“For more than 40 years, Visa has been an active contributor to China’s dynamic payments landscape. We look forward to taking the necessary steps in the process, pursuant to the PBOC’s regulations, to begin operating domestically in China.”
Visa Receives Approval to Begin Preparations for a Domestic Business in China
Visa (NYSE:V), a global leader in digital payments, today announced that it has received approval of its Application to Prepare from the People’s Bank of China (PBOC), which allows the company to begin formal preparations to establish a domestic bankcard clearing institution in China. This marks an important milestone toward the company serving China’s domestic payments market.
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