The Zhitong Finance App learned that on Tuesday, Visa (V.US) and Mastercard (MA.US) both rose more than 1% in early trading, reaching record highs. According to the news, US payment giant Visa announced that it has received approval from the Central Bank of China to establish a bank card clearing business in mainland China, paving the way for it to follow the steps of rivals Mastercard (Mastercard) and American Express (American Express) and enter China's huge payment market.

Visa CEO Ryan McInerney (Ryan McInerney) said in a statement that for more than 40 years, Visa has been an active participant in China's vibrant payment ecosystem and looks forward to taking necessary steps to develop local business in mainland China in accordance with relevant regulations of the People's Bank of China.

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