MasterCard International claims to have won the bidding to develop and run the first of six projects in China aimed at improving credit card and debit card transaction processing there.

The New York-based association says it has received exclusive rights to the Guangzhou Golden Card project. The project will utilize MasterCard's new switching center in Guangzhou and serve the neighboring cities of Beijing and Shanghai, the card association said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.