Visa Statement on Tencent’s intent to support international card schemes into mobile wallet

November 06, 2019, 2:17 PM Eastern Time

Visa Inc. (NYSE: V) today provided the following statement in response to Tencent’s announcement that it intends to support international card schemes in its mobile wallet:

“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 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.”

Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit About Visavisa.com/blog and @VisaNews.