日前，中国支付清算协会发布关于吸纳会员的公告显示，根据《中国支付清算协会章程》《中国支付清算 协会会员管理办法》等相关规定，该协会审议通过了中国印钞造币集团、内蒙古农村商业银行、德州银 行、济宁银行、联合信用评价有限公司、河南多鑫创联网络信息服务有限公司等6家单位的入会申请。 与此同时，中国支付清算协会决定准予中国印钞造币集团加入协会成为理事单位，内蒙古农村商业银行等5家 单位加入协会成为普通会员。入会时间自2026年1月1日起计算。 券商中国记者梳理发现，2025年3月12日，中国支付清算协会曾发布《关于注销会员资格的公告》，共有6家单 位会员资格被取消。根据彼时公告，按照《中国支付清算协会章程》《中国支付清算协会会员管理办法》等相 关规定，经审议，中国支付清算协会决定注销北京银联商务有限公司、广东银结通电子支付结算有限公司、大 连中鼎支付有限公司、中汇电子支付有限公司、汇明商务服务有限公司、天津金融资产登记结算有限公司等6 家单位会员资格，即日起生效。 在2025年上半年，北京银联商务、广东银结通支付、大连中鼎支付、中汇电子支付、汇明商务等均已注销支付 牌照。 A股突发！多只大牛股，紧急提示风险！ 盘中， ...

北京商报讯（记者 董晗萱）2月6日，中国支付清算协会官微发布春节反诈温馨提示。老年人接到冒充 子女晚辈称出事需紧急打款的电话，务必保持冷静，先挂断电话通过官方联系方式与家人核实，看到境 外开头陌生号码要高度警惕。子女也需多向独居老人普及反诈知识，避免被骗。遇到疑似诈骗，请及时 报警或拨打96110反诈专线。 ...

Investment Rating - The report maintains an "Outperform" rating for Visa, with a target price raised to US$400.60, indicating a potential upside of 21.8% from the current price of US$328.93 [2][7]. Core Insights - In 1Q FY26, Visa's total revenue reached US$15.17 billion, a year-over-year increase of 14.0%, slightly above expectations. Net revenue, after deducting client incentives, grew 14.6% to US$10.90 billion, also exceeding forecasts [3][11]. - The growth in revenue was driven by strong performance in Commercial and Money Movement Solutions (CMS) and Value-Added Services (VAS), with CMS revenue increasing by 20% year-over-year and VAS revenue up 28% year-over-year [3][11]. - Visa's stablecoin strategy has evolved into an integrated capability stack, expanding its card issuance and settlement services to over 50 countries, with stablecoin settlement volume reaching an annualized US$4.6 billion by the end of 2025 [5][12]. - Management remains optimistic about the company's outlook, maintaining full-year guidance unchanged, with projected net revenue growth of 11.3% for FY26, supported by resilient global payment trends and strong growth in CMS and VAS [7][16]. Financial Summary - For FY26, Visa expects net revenue growth of 11.3%, with diluted EPS projected to grow from US$12.93 in FY26 to US$15.94 by FY28, reflecting a sustained low double-digit growth rate [3][7]. - Operating expenses in 1Q FY26 rose by 16.2% year-over-year, influenced by unfavorable foreign exchange impacts and increased marketing expenses [3][11]. - Visa's return on equity (ROE) is projected to remain high, at 59.5% for FY26, with a price-to-earnings (P/E) ratio of 25 for the same year [2][3].

中国银联对此高度重视，特此严正声明如下：我公司从未联合或授权任何机构发行所谓"农业专属卡"。 我公司从未也不会开展或涉及所谓的"高收益理财"项目。该"农业专属卡"未经银联授权使用银联标识已 构成对银联权益的严重侵害。银联将坚决维护自己的合法权益并保留一切合法权利追究相关责任。 每经AI快讯，2月2日，中国银联官网发布《严正声明》。声明指出，近期市场上出现一种带有银联标 识所谓"农业专属卡"。公安机关及监管机关已接到群众的举报及信访，称有公司诱使其投资并购买该 等"农业专属卡"，用于投资理财。 ...

2026年1月19日，为期一周的世界经济论坛年会（冬季达沃斯论坛）正式开幕，来自世界各地的政界要 员、著名学者、企业家代表等汇聚一堂。本届年会以"对话的精神"为主题，旨在让与会者进行思想碰撞 并促成合作，探索应对互联互通挑战的长期解决方案，解锁促进增长、增强韧性与扩大影响力的新机 遇。 在全球数字经济加速演进、跨境贸易蓬勃发展的背景下，中国银联对接国际高标准经贸规则，与全球合 作伙伴深度协同，在数字支付与数字贸易领域持续深耕，构建起多元化、高效能的跨境金融服务生态， 为中外企业跨境经贸往来注入强劲动力。从优化双向跨境支付体验到创新对公支付解决方案，从数字贸 易场景延伸到"一带一路"沿线布局，银联与国际伙伴携手书写跨境支付互联互通的合作篇章。 构建双向支付服务体系 优化跨境人员经贸往来体验 为满足跨境人员流动与经贸往来的多元化支付需求，银联持续推动卡基网络和账基网络的底层互通及端 到端对接，实现卡到卡、卡到账、账到卡、账到账的全形态资金流转，解决不同形态网络兼容问题，构 建起覆盖境内外的双向支付服务体系。 在服务中国公民出境方面，银联落地推广"繁花行动"，携手境内商业银行开展精细化用户经营，打 造"境内境外皆好 ...

Core Viewpoint - The People's Bank of China (PBOC) held a meeting on January 15, 2026, focusing on the development of a modern payment system aligned with the "14th Five-Year Plan" and the goal of building a strong financial nation [2]. Group 1: Meeting Objectives and Outcomes - The meeting aimed to summarize the payment settlement work of 2025, analyze the current situation, and outline key tasks for 2026 [2]. - The PBOC noted that since 2025, regulations and systems in the payment sector have been continuously improved, leading to enhanced regulatory and service levels [2]. Group 2: Key Requirements for 2026 - The PBOC emphasized the need to accelerate the construction of a cross-border payment system for the Renminbi and promote interconnectedness in cross-border payments [2]. - There is a focus on diversifying and developing a multi-layered cross-border payment system [2]. - The meeting called for strict implementation of transparent regulation for payment institutions and functional regulation of payment services [2]. Group 3: Industry Development and Innovation - The PBOC aims to create a healthy industry ecosystem through a combination of administrative and self-regulatory measures [2]. - Continuous optimization of payment services is essential, with an emphasis on providing convenient and secure payment options [2]. - The enhancement of service quality in payment systems is to be driven by innovation, promoting the upgrading of the industry [2].

Core Viewpoint - Visa has announced support for Chinese-issued Visa cards to be linked to Apple Pay, breaking the previous exclusivity of UnionPay cards in China [1][2][3] Group 1: Initial Banks and Partnerships - The first eight banks to support this initiative include Industrial and Commercial Bank of China, Bank of China, Agricultural Bank of China, Bank of Communications, China Merchants Bank, CITIC Bank, Ping An Bank, and Industrial Bank [2] - Visa is also collaborating with Shanghai Pudong Development Bank, China Construction Bank, Minsheng Bank, and China Everbright Bank for future support [2] Group 2: Consumer Benefits and Promotions - Consumers can now use Apple Pay with Visa cards for contactless payments abroad, eliminating the need to carry a physical Visa card [2][4] - Various promotional activities have been launched by the initial banks to attract customers, including cashback offers and incentives for using Apple Pay with Visa cards [4][5] - For example, China Merchants Bank offers a 1% cashback on all overseas transactions made with Apple Pay linked Visa cards, while Ping An Bank provides a $5 cashback for transactions over $5.01 [4][5] Group 3: Technological Advancements - Visa has emphasized its investment in data and payment security, introducing payment tokenization services to enhance security in cross-border transactions [6][8] - Payment tokenization removes sensitive information during online or mobile shopping, significantly reducing fraud risks [6] - The integration of Visa cards with Apple Pay allows for the application of payment tokenization in more overseas payment scenarios, improving convenience and security for cardholders [6][7] Group 4: Security Features - When a China Merchants Bank Visa card is linked to Apple Pay, the actual card number is not stored on the device or Apple's servers, enhancing security [8] - A unique Device Account Number is generated and encrypted for secure storage, ensuring that payment information is protected [8]

Core Insights - Visa has become the first international card organization to support Apple Pay card binding for Chinese cardholders, enhancing payment convenience [1] - The collaboration aims to facilitate cross-border payments, allowing users to make contactless payments abroad using Apple Pay with Visa cards [2][4] - Visa's payment tokenization technology is a key security feature that enhances the safety of mobile payments and e-commerce experiences [4][5] Group 1: Visa and Apple Pay Collaboration - Visa supports both single and dual-branded cards for Apple Pay binding, with initial backing from eight major banks in China [1] - The partnership is expected to expand, with additional banks like Shanghai Pudong Development Bank and China Construction Bank joining in the future [1] - This collaboration marks a significant shift as Apple Pay previously only supported UnionPay cards in China [1][7] Group 2: Payment Convenience and Security - The integration allows for seamless in-store payments abroad, requiring only a double-click of the side button on the device for authentication [2] - Each transaction is secured through Face ID, Touch ID, or device password, ensuring a secure payment process [2] - Visa's tokenization service removes sensitive card information during transactions, significantly reducing fraud risk [4][5] Group 3: Market Impact and Future Developments - Visa aims to enhance the payment experience for cardholders both domestically and internationally, with plans to upgrade existing dual-branded cards by 2025 [8] - The company has achieved over 50% of e-commerce transactions utilizing payment tokenization, with a goal of reaching 100% [5] - Visa's global network connects approximately 1.75 million merchants across over 220 countries, serving more than 4.9 billion cardholders [8]

Core Viewpoint - Visa has become the first international card organization to support Apple Pay card binding for Chinese cardholders, enhancing the convenience of cross-border payments [3]. Group 1: Impact on Cross-Border Payments - The integration allows for easier offline payments, enabling Chinese consumers to make contactless payments abroad by simply double-clicking the side button on their iPhone or Apple Watch [4]. - For mobile and online payments, consumers can use Apple Pay in foreign apps or websites without needing to create accounts or repeatedly enter personal information [4]. - Visa cardholders will continue to enjoy the same rewards and benefits as with physical cards, along with exclusive offers for first-time binding and travel-related scenarios [4]. Group 2: Card Binding Process - Cardholders can add their Visa cards to Apple Wallet without manually entering card numbers, either through the bank's app or directly via Apple Wallet [5]. - Some banks already support instant issuance of Visa cards and immediate binding for immediate use [5]. Group 3: Payment Tokenization Service - Visa has increased investment in data and payment security, launching a tokenization service that enhances security for cross-border transactions [6]. - Tokenization removes sensitive information during online or mobile shopping, reducing fraud risk and data breaches [6]. - Since December 2016, all financial institutions in China have been required to implement payment tokenization technology [6]. Group 4: Security Measures - When adding a Visa card to Apple Pay, the actual card number is not stored on the device or Apple's servers; instead, a unique device account number is generated and securely stored [10]. - In case of device loss, Visa can immediately disable the digital account number stored on the device [10]. - The Apple Secure Element is designed to securely store payment information, enhancing the overall security of the payment process [11]. Group 5: Market Position and Future Developments - Visa has been promoting the application of payment tokenization for over a decade, with over 50% of e-commerce transactions in its global ecosystem now utilizing this technology [8]. - Visa aims to achieve 100% payment tokenization, having prevented $1.1 billion in fraud losses in the fiscal year 2025 [8]. - Visa's payment network spans over 220 countries and regions, connecting approximately 175 million merchants and serving over 4.9 billion cardholders [11].

Core Insights - Visa has become the first international card organization to support Apple Pay card binding for Chinese cardholders, enhancing payment convenience [1] - The collaboration aims to facilitate cross-border payments, allowing users to make contactless payments abroad using Apple Pay with Visa cards [2][4] - Visa's payment tokenization technology is a key security feature that enhances the safety of mobile payments and e-commerce experiences [4][5] Group 1: Visa and Apple Pay Collaboration - Visa supports both single and dual-branded cards for Apple Pay binding, with initial support from eight banks including Industrial and Commercial Bank of China and China Bank [1] - The collaboration is expected to expand as Visa and Apple work with additional banks like Shanghai Pudong Development Bank and China Construction Bank [1] - This partnership marks a significant shift as Apple Pay previously only supported UnionPay cards in China [1] Group 2: Payment Convenience and Security - Users can make offline payments by simply double-clicking the side button on their devices, allowing for a seamless payment experience without opening any apps [2] - Each transaction is secured through Face ID, Touch ID, or device password, with a dynamic security code sent to the issuing bank for authorization [2] - Visa offers cardholders the same rewards and benefits as physical cards, along with exclusive promotions for first-time users and travel-related scenarios [2] Group 3: Tokenization and Security Measures - Visa's payment tokenization service removes sensitive card information during online or mobile transactions, significantly reducing fraud risk [4][5] - Over 50% of e-commerce transactions within Visa's ecosystem have adopted payment tokenization, with a goal of reaching 100% [5] - The fraud rate for transactions using Visa payment tokens has decreased by over 35%, preventing an estimated $1.1 billion in losses for the fiscal year 2025 [5] Group 4: Future Developments and Market Reach - Visa's payment network spans over 220 countries and regions, connecting approximately 175 million merchants and serving over 4.9 billion cardholders [7] - The collaboration with Apple Pay is seen as a revitalization of dual-branded cards, enhancing the payment experience for users traveling abroad [7] - Visa plans to upgrade existing "Visa + UnionPay" dual-branded credit cards to improve user experience both domestically and internationally by 2025 [7]