Visa teams with Tencent to support mobile payments In China

Everyone wants to get a "piece of China". Visa has released a statement saying Tencent’s announcement that it will support international card schemes in its mobile wallet is “a great step forward” for the payments industry.

“Visa believes this is a great step forward, both for consumers travelling to China and the overall payments industry. In a truly global commerce environment, collaboration is essential to provide consumers with a seamless payments experience,”

Visa said in a release. 

“Visa is excited to work with Tencent, one of China’s leading fintech companies, on a secure, convenient and interoperable mobile payment experience that will benefit the large number of international travellers visiting China,”

the statement added.

“This partnership means that we’ll be working towards an environment where Visa cardholders will be able to use their Visa card in China at the millions of places where WeChat Pay is accepted, instead of having to rely on cash.”