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    News in brief

    Mastercard planning to become a PSP in China

    News in brief

    Mastercard is planning to apply to become a payment service provider (PSP) in China this year but is still deciding whether to do so alone or with a partner, according to Reuters. “China in June allowed foreign payment card companies to operate in the country under new rules,” the publication reports. “Under the rules, China’s national security and cyber security standards must be met. Applicants must also hold 1 billion yuan (US$150m) in registered capital in a local company.”

    Filed by Email Rian Boden Published • Last updated 25 July 2016, 13:36

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