00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tencent and Visa announced an expanded partnership Thursday to develop cross-border
00:07payment solutions and AI-powered commerce, according to CNBC. The companies plan to make
00:13payments easier for travelers entering and leaving China through Tencent's WeixinPay and Visa
00:18networks. They will also expand their collaboration through Visa Direct to facilitate overseas money
00:24transfers into WeixinPay. The agreement includes developing agentic commerce solutions,
00:30that allow AI agents to help consumers select and purchase products. The announcement follows
00:35approval from the People's Bank of China for Visa to begin preparations for a domestic bank card
00:40clearing business. Visa and Tencent have collaborated since at least 2019, when Visa announced plans to
00:47enable international cardholders to make payments through WeChat Pay in China. For all things money,
00:53visit Benzinga.com.
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