- Morgan Stanley is out with a new note covering the impact of China opening up competition for bank card clearing services in the nation.
- The investment firm thinks Visa (V +5.9%) and MasterCard (MA +4.6%) could begin operations in China in late 2016 or early 2017.
- The development could add $336M to $360M in revenue for Visa and $224M to $240M for MasterCard by 2021.
- Shares of both payments stocks have ripped gains on strong volume.
- Previously: Door opens for MasterCard and Visa in China