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Mastercard has received regulatory approval to expand its operations in China. This includes running a yuan-denominated bank card clearing service, issuing credit cards, and processing domestic payments. The approval allows Mastercard to tap into the trillions of dollars in card transactions made in China annually. The company's efforts to detect and tackle crypto fraud have also been doubled with an AI tie-up. Mastercard's wider acceptance in China is expected to benefit expats, visitors, and the company's overall presence in the country.
CNN: Mastercard will soon be widely accepted in China https://t.co/34pSG9Vldq
Mastercard says wide adoption of central bank digital currencies would be ‘difficult’ right now https://t.co/3LwfkvOoAq https://t.co/af6ZCpzYAk
Mastercard gets green light for domestic payments processing in China https://t.co/02O8oOYPuj
Mastercard will soon be widely accepted in China https://t.co/iv7etIBD5I
Mastercard finally got regulatory approval to issue credit cards in China -- more than two decades after teh country's WTO promise. https://t.co/AQcvGIpCTV via @wsj
Mastercard has gotten approval to run a yuan-denominated bank card clearing service in China through a JV, giving the U.S.-based firm a shot at a slice of the fees generated by the trillions of dollars in card transactions made in the country each year. https://t.co/IDbV0kNYEa
China approves Mastercard’s card clearing joint venture in boon for expats, visitors https://t.co/4eZRSVo8vf via @scmpnews
Mastercard doubles down on effort to detect and tackle crypto fraud with AI tie-up https://t.co/O2Cbj4Oine
Mastercard doubles down on effort to detect and tackle crypto fraud with AI tie-up https://t.co/y4DQvb9Equ