Visa has become the first foreign card payment company to file an application to participate in the Chinese domestic market as a bank-card clearing institution, Global rival Mastercard is expected to follow suit. Photo: Alamy Stock Photo

Visa applies for direct access to China’s bank-card clearing market as it moves to challenge UnionPay dominance

Card payment giant becomes first overseas player to move on China, Mastercard also talking about following suit

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Visa has become the first foreign card payment company to file an application to participate in the Chinese domestic market as a bank-card clearing institution, Global rival Mastercard is expected to follow suit. Photo: Alamy Stock Photo
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