Visa and Mastercard’s Chinese Entry Delayed by Central Bank: FT  Bloomberg

The People’s Bank of China declined to acknowledge Visa and Mastercard’s applications to process renminbi payments, the Financial Times reports, citing unidentified people familiar with the application process. – Applications submitted to central bank more than a year ago, people say – Procedure for applications published in 2017 says PBOC must decide on applications within 90 days of acknowledging receipt – The PBOC, Visa and Mastercard did not respond to requests for comment More from Bloomberg.com – Trump, Putin and a Test of Presidential Power – The Next American Car Recession Has Alrea…