Ryan McInerney

Money

Visa waited more than six years for China's green light and got an option, not a market

On October 13, 2026, China's central bank let Visa begin preparing a domestic clearing business for renminbi bank cards, more than six years after the American network applied. Beijing still owns every gate to the license; the reason to want through runs beyond cards, to payments made by AI agents that shop on people's behalf.

October 13, 2026 · 3 min read