Visa and Mastercard left out in cold as Chinese Central Bank refuses to process application

www.paymentscardsandmobile.com

The Chinese central bank, after allowing American Express to operate in the country last year, have rejected both Visa and Mastercard's applications that would have allowed the networks to operate in country and process renminbi. The best part - the applications themselves weren't rejected, the Central Bank has simply ignored the fact that they were submitted in the first place. Talk about passive aggressive at a whole other level.

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