Mastercard And NetsUnion Begin Processing Payments In Chinese Mainland; Mastercard Cards Issued By Chinese Banks Now Accepted As Of May 2024
Portfolio Pulse from Benzinga Newsdesk
Mastercard and NetsUnion have announced a partnership to begin processing payments in the Chinese mainland. Starting May 2024, Mastercard cards issued by Chinese banks will be accepted in China.
June 13, 2024 | 1:14 pm
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POSITIVE IMPACT
The partnership between Mastercard and NetsUnion to process payments in China may have a positive impact on the broader Chinese market, which is represented by the iShares China Large-Cap ETF (FXI).
The collaboration between Mastercard and NetsUnion could enhance the financial infrastructure in China, potentially benefiting the broader Chinese market. This may positively impact the iShares China Large-Cap ETF (FXI).
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Mastercard has partnered with NetsUnion to process payments in the Chinese mainland. This move will allow Mastercard cards issued by Chinese banks to be accepted in China starting May 2024.
The partnership with NetsUnion opens up a significant market for Mastercard, potentially increasing its transaction volume and revenue. The acceptance of Mastercard cards issued by Chinese banks will likely boost Mastercard's presence in China.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100