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MasterCard Incorporated Message Board

  • stockmauler stockmauler Sep 17, 2010 12:25 PM Flag

    T-I-M-B-E-R-R-R-R-R-R-R-R-R !!!!!!!!!!

    Shorting MA as fast as I can. Under 180 very very soon.

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    • News will be great for MA. Buy dips.

      Credit card processor Visa Inc. (V) has been blocked from doing any new business in China for almost one year, amid an ongoing dispute with China UnionPay, the country's state-backed bank card monopoly, the Financial Times reports Thursday, citing people familiar with the matter.
      Visa told UnionPay in 2009 to stop processing international transactions for co-branded cards through UnionPay's own payment system rather than Visa's, but the Chinese company has refused to comply.
      Since the demand was made, UnionPay wouldn't consider any new business lines with Visa, people in China's bank card industry told the FT.
      A Visa representative said: "We have been in China for more than a decade and we have a long history of working with China UnionPay. While we continue to grow our cross-border payments business, like all payment companies we look forward to eventually participating in the domestic payments market."
      UnionPay declined to comment, the newspaper says.
      San Francisco-based Visa is at the center of a case filed Wednesday by the U.S. government against China at the World Trade Organization. Washington says China UnionPay's insistence on using only its own payment processing system amounts to market-access restrictions that violate trade rules.
      China has 10 days to respond to the U.S. request for WTO consultations on the case.
      Full story at http://www.ft.com/cms/s/0/890f6152-c19d-11df-8e03-00144feab49a.html
      -Dow Jones Newswires; 212-416-2900

 
MA
90.72-0.16(-0.18%)Apr 24 4:00 PMEDT