---- Kassiererin bereitet eine Kreditkarte von China CITIC Bank von China UnionPay und Visa Zahlung bei einem Shop in LinAn Stadt unterstützt Streichen, Osten C
--FILE--A cashier prepares to swipe a credit card of China Citic Bank supported by China UnionPay and Visa for payment at a shop in LinAn city, east Chinas Zhejiang province, 29 June 2013. Visa Inc. Chief Executive Officer Charlie Scharf said China is not opening as quickly as expected to foreign payment processors and must be viewed as a five- to 15-year opportunity. It is 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 in New York during an industry conference sponsored by Keefe, Bruyette & Woods Inc. Scharf plans to be in China next week and said the company needs to understand why the market has not become more open to foreign firms. Visa, the worlds biggest bank-card network, has been in talks with U.S. and local officials, Chinese banks and China UnionPay Co., he said. UnionPay is a payment processor founded in Shanghai by the State Council and central bank that competes globally with Visa and MasterCard Inc.
