Can American Express Make Money in China? — Market Mad House
Published in
7 min readJun 16, 2020
American Express (NYSE: AXP) could begin processing online and offline payments in China within six months.
The People’s Bank of China (PBOC) issued Express (Hangzhou) Technology Services, a network clearing license on 13 June 2020, Bloomberg reports. To elaborate Express (Hangzhou) Technology Services is Amex’s Chinese joint venture. The PBOC is China’s central bank.
A network clearing license allows Express (Hangzhou) Technology Services to operate a payment-processing network in China. Thus, the…
