Visa CEO Says China Delays Opening Card-Payments Market
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Visa Inc. Chief Executive Officer Charlie Scharf said China isn’t opening as quickly as expected to foreign payment processors and must be viewed as a five- to 15-year opportunity.
“It’s going to take a long time for the market to actually open up in a way that we actually do have that level playing field,” Scharf told analysts today in New York during an industry conference sponsored by Keefe, Bruyette & Woods Inc.