Visa (V) and Tencent signed a memorandum of understanding covering international payments, AI-supported commerce, and global business growth, Tencent said Thursday.
The companies plan to ease payments for travelers to and from China through Tencent's TenPay Global platform and Visa Pay, and to widen remittance services through Visa Direct into the Weixin Pay network, the company said.
They will also explore AI-assisted shopping through Visa Intelligent Commerce and extend a gaming payments partnership to cover Tencent's overseas AI businesses, Tencent said.
Shares of the company were up 1% in Thursday premarket activity.
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