The Zhitong Finance App learned that on October 13, the People's Bank of China updated the bank card clearing agency's administrative license information and issued an administrative licensing decision to Weiss Information Technology (Beijing) Co., Ltd. to prepare a bank card clearing agency. According to the arrangement, Weiss Company is required to complete the preparatory work within one year, after which it can submit an application to open a business. The People's Bank of China, together with the General Financial Supervisory Administration, will issue a bank card clearing business license after approval. According to reports, Weiss Information Technology (Beijing) Co., Ltd. is an enterprise corporation established by Visa in China and is a foreign-invested enterprise.
Visa announced the approval on the same day. Visa CEO Ryan McInerney (Ryan McInerney) said, “The approval of this preparatory application is another important milestone in Visa's long-term commitment to serving the Chinese market. We highly appreciate the important role played by the leaders of China and the US in promoting a constructive and stable strategic relationship between the world's two major economies. For more than 40 years, Visa has actively participated in the development of China's dynamic payment industry and is a long-term contributor to the construction and innovative development of China's payment ecosystem. We look forward to actively carrying out follow-up work in accordance with the relevant regulations of the People's Bank of China in order to expand the domestic industry as soon as possible.”
According to McCain, China is one of the most advanced and dynamic digital payment markets in the world, has a highly innovative payment ecosystem, and continues to promote a high level of openness of the financial industry to the outside world. Visa looks forward to further bringing world-leading innovation capabilities, security and operational experience to the Chinese market, better serving Chinese consumers and corporate customers, and contributing to the continued innovation and development of the Chinese payment industry. Visa will continue to complete follow-up work and carry out bank card clearing operations within China.