Visa rises after securing Chinese approval for card-clearing business preparations

Visa

13/10/2026 11:42

** Visa V.N shares gain 1.6% to $395.66 premarket
** The credit card giant receives China's approval to prepare for a domestic bank card-clearing business 
** Nod a major step for V to entering one of the largest payment markets
** Rivals Mastercard MA.N, American Express AXP.N already in business
** Visa has a year to complete preparations before applying for license, the People's Bank of China said
** Year through last close: V ahead 10.99%, AXP down 15.80% and MA up 4.24%

 (Reporting by Jayasree Prabhu)
 ((jayasree.prabhu@thomsonreuters.com))