Business · Economy · 1 hr ago
China approves Visa’s local company to prepare a bank card clearing business
China’s central bank has approved Visa’s Beijing-based company to prepare to run a bank card clearing business.
The company, Visa Information Technology (Beijing) Co., is a foreign-invested business set up by Visa in China.
The approval allows it to begin preparations, but does not mean it can start operating yet.
It has one year to complete the preparations.
After that, it can apply to open the business.
The central bank and the National Financial Regulatory Administration must approve the application before a bank card clearing licence is issued.
The next step is for the company to complete its preparations and seek that approval.
China’s central bank approved Visa’s local company to prepare a bank card clearing business.
The company is Visa Information Technology (Beijing) Co., a foreign-invested enterprise established by Visa in China.
It must complete preparations within one year.
After that, it may apply to open for business, subject to approval by the central bank and the National Financial Regulatory Administration.
A bank card clearing business licence will be issued after approval.
- Who
- China’s central bank approved Visa Information Technology (Beijing) Co.
- What
- The company was permitted to prepare a bank card clearing business.
- When
- The approval was announced on October 13, 2026.
- Where
- China.
- Why
- Not stated
This story does not have two clearly opposing sides.
China’s central bank announced it had approved the company to prepare a bank card clearing business.
The company must complete preparations and may then submit an application to open for business.
The central bank and the National Financial Regulatory Administration will review it; if approved, a bank card clearing business licence will be issued.
- Approval date
- October 13, 2026
- Company
- Visa Information Technology (Beijing) Co.
- Preparation deadline
- Within one year
- Next step
- Apply to open for business after preparations are complete
- Licence
- Issued after approval by the central bank and the National Financial Regulatory Administration
Sources
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