China Calls On Visa And Mastercard To Slash Bank Card Transaction Fees By Up To Half: Report
Portfolio Pulse from Benzinga Neuro
China has requested Visa Inc. and Mastercard Inc. to reduce their bank card transaction fees for foreign card transactions. The Payment & Clearing Association of China is negotiating with these companies to lower fees from 2-3% to 1.5%. This initiative aims to simplify payments for international visitors in China.
June 21, 2024 | 9:51 am
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NEGATIVE IMPACT
Mastercard Inc. has been asked by China to reduce its bank card transaction fees from 2-3% to 1.5%. This regulatory pressure could impact Mastercard's revenue from foreign card transactions in China.
The request to lower transaction fees could reduce Mastercard's revenue from foreign card transactions in China, negatively impacting its short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Visa Inc. has been asked by China to reduce its bank card transaction fees from 2-3% to 1.5%. This regulatory pressure could impact Visa's revenue from foreign card transactions in China.
The request to lower transaction fees could reduce Visa's revenue from foreign card transactions in China, negatively impacting its short-term stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100