n November 19, the People’s Bank of China (PBC), the country’s central bank, announced it will allow Mastercard NUCC Information Technology (Beijing) Co. Ltd., a joint venture between Mastercard and Chinese firm NetsUnion Clearing Corp., to conduct bank clearing business in China. This approval made Mastercard the second international bank card clearing institution operating in the Chinese market, following American Express,
A More Open Clearing Market
Dec 07, 2023
2 minutes
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