Chinese technology conglomerate Tencent has signed a memorandum of understanding (MoU) with Visa to explore collaboration on cross-border payments, AI-powered commerce, enterprise AI, and international business expansion.
The proposed partnership combines Tencent’s payment platforms, digital services, and technology capabilities with Visa’s global payment network and cross-border money movement products.
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The MoU follows Visa’s regulatory approval to start preparations to establish a domestic bankcard clearing institution in China.
As agreed, Tencent and Visa plan to expand their existing work serving international visitors to China.
The companies will explore ways to simplify payment acceptance for inbound and outbound travellers through TenPay Global, Tencent’s cross-border payment platform, and Visa Pay.
For travellers going to and from China, the companies will consider payment options at participating merchants on the Weixin Pay and Visa networks
The companies also plan to extend their cross-border remittance work through Visa Direct. The initiative would allow more overseas senders to transfer funds into the Weixin Pay ecosystem.
The work will be subject to applicable regulatory, data governance, and security requirements.
Additionally, Visa and Tencent will examine how AI and agentic technologies could support digital commerce. The companies said the work will focus on payment security, consumer control, and trust.
Tencent’s international payments platform, Midas, and Visa have previously worked together in the gaming sector.
The proposed partnership now includes Tencent’s overseas AI businesses.
Further, the companies will assess how Visa Intelligent Commerce could support transactions initiated with help from AI agents. These use cases could include product discovery, selection, and purchases for eligible users, as well as developer-agent payment experiences and AI-native commerce models.
Tencent senior executive vice president and its Cloud and Smart Industries Group CEO Dowson Tong said: “Our expanded partnership with Visa builds on our ongoing efforts to better serve users and businesses across Tencent’s ecosystem.
“By making cross-border payments more convenient and exploring how Tencent Cloud’s AI and agent capabilities can complement Visa’s global network and expertise, we hope to create more seamless commerce experiences for consumers and new opportunities for businesses, both in China and internationally.”
