The MasterCard global payment system expects double-digit growth in credit card transactions in China provided Beijing opens its domestic transactions to foreign companies. At present, the Chinese market is dominated by the state-backed UnionPay.
"That's going to change with China opening up. We will be able to process domestic transactions just like a domestic national player," Ling Hai, co-president for MasterCard Asia Pacific told Reuters.
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INC News, 16/11/2015 - via RT
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