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Everywhere They Want to be, and Now China, Too

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This April 22, 2005 file photo shows logos for MasterCard and Visa credit cards at the entrance of a New York coffee shop. Fair Isaac, the company behind the widely-used FICO credit score, on Thursday, April 2, 2015 announced a pilot program to help millions of Americans get easier access to credit, based on their record of paying utility bills, instead of their history of loan repayments. (AP Photo/Mark Lennihan, File)

This April 22, 2005 file photo shows logos for MasterCard and Visa credit cards at the entrance of a New York coffee shop. (AP Photo/Mark Lennihan, File)

KEN SWEET, AP Business Writer

NEW YORK (AP) — The Chinese are spending trillions of dollars on their credit and debit cards, and U.S. companies are finally getting a slice of that giant pie.

China announced Wednesday that foreign companies like Visa, MasterCard and American Express can bring their payment processing networks into that country, starting June 1.

The news sent shares of Visa and MasterCard soaring.

The Chinese payment industry is massive, and up until this announcement, was closed off to foreign-owned companies.

While foreigners or locals in the world’s second-largest economy could use their Visa or MasterCard, the companies were charged a fee by a government-approved company called UnionPay to process transactions. Chinese Visas or MasterCards had to be co-branded with UnionPay.

Customers in China spent $5.2 trillion on UnionPay’s network in 2013, according to China’s Central Bank, up 48 percent from the year before. By comparison, Visa handled $6.9 trillion in transactions on its global network in the same year.

“China obviously represents a massive opportunity for the networks … and one that the networks have been attempting to access for years,” Keefe, Bruyette & Woods analyst Sanjay Sakhrani said.

Visa, MasterCard and American Express now will be allowed to set up their own networks in China through a subsidiary, China’s State Council said. The move is an effort to “promote healthy competition in the country’s bankcard clearing market,” the regulator said.

China’s payment industry has been a sore spot between the U.S. and that country for some time. The World Trade Organization ruled in 2012 that UnionPay was effectively a government-sanctioned monopoly.

Payment processors make most of their money by charging a small fee on every transaction in their networks. Access to China’s growing market could generate a significant amount of new revenue for Visa, MasterCard and American Express, once they establish a presence there.

“We are hopeful these new regulations will permit additional participants in the Chinese domestic market,” said Visa spokesman Paul Cohen.

MasterCard said China’s announcement was a “step in the right direction.”

Visa’s stock jumped $2.86, or 4 percent, to $68.21 in afternoon trading and MasterCard rose $3.73, also 4 percent, to $91.50.

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Oakland Post: Week of July 1 – 7, 2026

The printed Weekly Edition of the Oakland Post: Week of July 1 – 7, 2026

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Inaugural Juneteenth Awards Ceremony Celebrates the Fillmore’s Black History, Leadership and Resilience

Addressing more than 100 Black and Asian attendees, San Francisco Mayor Daniel Lurie stated “San Francisco is reliant on the Black community, and we must invest in this community.”

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District 5 Supervisor Bilal Mahmood, Rev. Dr. Amos Brown, Pastor Emeritus of Third Baptist Church, SF Mayor Daniel Lurie. Photo by Linda Parker Pennington.
District 5 Supervisor Bilal Mahmood, Rev. Dr. Amos Brown, Pastor Emeritus of Third Baptist Church, SF Mayor Daniel Lurie. Photo by Linda Parker Pennington.

By Linda Parker Pennington

The Fillmore Community Ambassadors held its first annual Juneteenth Wesley Johnson White Horse Awards ceremony on June 19 inside the newly reopened Fillmore Heritage Center.

The event featured awards for former San Francisco mayors London Breed and Willie Brown, along with Third Baptist Church Pastor Emeritus, Rev. Dr. Amos Brown.

The Koret Heritage lobby at the newly reopened center at 1330 Fillmore St. held a standing-room-only, culturally diverse and multi-generational audience while the art gallery featured photos of Fillmore community members in action, red Japanese lanterns, art and calligraphy, and Chinese artwork, giving the space a multicultural feel.

Addressing more than 100 Black and Asian attendees, San Francisco Mayor Daniel Lurie stated “San Francisco is reliant on the Black community, and we must invest in this community.”

District 5 Supervisor Bilal Mahmood acknowledged that “the Fillmore community has had a difficult history. Thanks to Rev. Amos Brown’s continuous focus on accountability and resistance, you hold us accountable and continue to inspire us.”

Mahmoud is referring to the Fillmore’s Japanese residents who were forced from their homes and sent to concentration camps during World War II. Black people occupied those homes until the return of their Japanese neighbors and then gave them back, while homes that had been unoccupied were lost. The presence of the Asian community on Juneteenth is a testament to that shared history.

In receiving his honor, Amos Brown elicited a powerful spontaneous call-and-response, where members of San Francisco’s many Black churches proudly shouted out the names: “Bethel AME! Providence Baptist! Jones Memorial! Glide!”

Awards program Master of Ceremonies Shawn Richards of Brothers Against Guns warmly introduced Breed, highlighting her many accomplishments, particularly on “March 16, 2020, when she became the first mayor to shut down a major U.S. city due to COVID-19, saving thousands of lives.”

The audience was captivated by Breed’s emotional speech touching on past traumas, present conditions, and future hopes for the neighborhood where she grew up.

She recalled another trauma of the neighborhood during the City’s redevelopment era in the 1960s, where Black residents were forced to move with a promise of being able to return that was largely unfulfilled.

“We remember when this land was just a field because they bulldozed hundreds of Victorian homes that Black people owned. They built the Fillmore Center, where most Black people can’t afford to live or start their own business. But we are still here.”

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Black Repertory Group Needs Volunteers to Help Shape the Next Generation of Artists and Leaders

Legendary performers such as Whoopi Goldberg and Danny Glover worked with and were inspired by BRG’s founders. More recently, Grammy award-winning artist Kehlani attended the Black Repertory Group Summer Day Camp for several years.

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Courtesy image.
Courtesy image.

By Sean Vaughn Scott, Special to The Post

For more than 60 years, the Black Repertory Group (BRG) has changed lives through the arts.

Founded in 1964 by educators and visionaries Birel L. Vaughn and Nora Vaughn, BRG has become one of America’s oldest continuously operating Black theater institutions. For generations, it has preserved culture, developed talent, and provided opportunities for young people to discover their voices and their potential.

The results speak for themselves.

Legendary performers such as Whoopi Goldberg and Danny Glover worked with and were inspired by BRG’s founders. More recently, Grammy award-winning artist Kehlani attended the Black Repertory Group Summer Day Camp for several years.

Long before international recognition, Kehlani performed on the BRG stage. During a summer day camp production of  “Princess and da Frog,” she portrayed Ray, the lovable firefly whose light guided others through the darkness. Her journey is proof that today’s camper may become tomorrow’s artist, entrepreneur, educator, or leader.

Located at 3201 Adeline St. in Berkeley, BRG continues that mission through its Youth Summer Day Camp of the Arts.

BRG is currently accepting applications and maintains an open enrollment program. Students may enroll throughout the summer as space permits and immediately become part of the BRG family.

We are also proud to be a multicultural opportunity program, welcoming children and families from all backgrounds, cultures, and communities. Through theater, music, dance, public speaking, visual arts, technical theater, and leadership development, students gain confidence, discipline, creativity, and lifelong skills.

As our programs grow, so does our need for volunteers.

We are seeking community members to assist with youth mentoring, registration, costumes, set construction, painting, props, ushering, photography, social media, marketing, technical theater, and fundraising activities. Whether you volunteer for a few hours or throughout the season, your support directly impacts the lives of young people.

BRG also partners with churches, civic organizations, alumni associations, fraternities, sororities, and community groups through theater party fundraisers, group sales, and buy-out performances. These partnerships have helped organizations raise funds while supporting arts and cultural programming.

The theater also serves as the home of the Berkeley NAACP Chapter, which meets every second Saturday of the month from 1 to 3 p.m.

For more than six decades, the Black Repertory Group has remained committed to one belief: every child deserves an opportunity to shine.

The next great artist may already be among us.

The next Kehlani may already be walking through our doors.

We invite you to volunteer, enroll, participate, and become part of the legacy.

For more information please go to www.blackrepertorygroup.com, call (510) 652-2120, or email info@blackrepertorygroup.com

Sean Vaughn Scott is the director of the Black Repertory Group.

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