Trump Presses Xi to Open China’s 963.6 Trillion Yuan Payments Market to Visa
President Trump pressed Xi Jinping to lift China’s block on Visa’s entry into its payments market with 10.2 billion cards in circulation and 963.6 trillion yuan in transactions in 2025. CEO Ryan McInerney joined Trump’s 30-member delegation to Beijing as Trump labeled Visa “a big deal” and urged market access.
1. Visa Exclusion from China
Visa remains excluded from mainland China’s payments market despite American Express and Mastercard receiving approvals. At the end of 2025, China’s payments system supported 10.2 billion bank cards.
2. Trump’s Push in Beijing
During a state visit, President Trump personally urged Xi Jinping to remove restrictions on Visa’s operations, calling the company “a big deal.” Visa CEO Ryan McInerney was part of the 30-member U.S. corporate delegation in Beijing.
3. Market Opportunity
China’s payments market processed 963.6 trillion yuan in transactions last year. Entry into this market would represent a significant revenue opportunity for Visa’s card processing services.