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Thread: Visa divorced China Unipay!

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[quote=LONELYJOURNEY,397938]Once as partners, but now they seem to start a "war" against each other.

The FT reports that Visa has required the banks to stop using China Unipay's channel to process international transactions for VIsa and Unipay Dual Credit Card. In the meantime, those who hold Visa and China Unipay dual credit card  to pay their bills outside Chinese mainland will have to pay through Visa's channel. And they wlll be charged with 1 to 2 percent handling fee.

Why does Visa take this move? The China Unipay has expanded too fast these years, especially beyond China's borders. It's growth has become a threat to Visa. It is said that American Express and Mastercard might follow Visa's step too.

Well, their move actiuall has caused a suspicion. See, they took this move to block China Unipay outside China just after US Trade Offcials talked with them including Mastercard and American Express.

Clearly, the dispute between Visa and China Unipay is just a part of the trade war between US and China.

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