Josh Swissman quoted on americanbanker.com
What China’s post-COVID travel reopening means for payments providers
While cross-border travel revenue for card networks and processors has rebounded in many global regions — surpassing pre-pandemic levels — Asia’s recovery has lagged behind primarily due to lingering lockdowns. That’s poised to change as China this week reopened its borders for travel.
There are already indications of strong pent-up travel demand that could be a boon for Mastercard and Visa, which have each seen significantly lower revenue from cross-border travel spending in Asia since the pandemic began.
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