6th November, 2019 – Visa Inc., the world’s leader in digital payments has released its official statement today in response to Tencent’s announcement that it intends to support international card schemes in its mobile wallet.
Visa believes Tencent’s move 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 that 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 travelers visiting China.
“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,” stated by Visa in its latest statement.