BUZZ - Visa shares rise after approval to prepare bank card clearing business

October 13 - ** Visa V.N shares rose 1.6% in premarket trading, to $395.66

** The credit card giant has received (link) approval in China and will begin preparations for domestic bank card clearing operations

** This approval marks an important step for Visa in entering one of the world’s largest payment markets

** Competitors Mastercard (MA.N) and American Express (AXP.N) are already operating there

** The People’s Bank of China said Visa has one year to complete preparations before applying for a license

** By the close of the previous trading day, Visa’s share price had risen 10.99%, AXP fell 15.80%, and MA rose 4.24%

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