Visa and Tencent have signed a memorandum of understanding (MoU) to explore collaboration on cross-border payments, AI-powered commerce and global business growth.

The agreement aims to combine Tencent’s digital platforms and payment capabilities with Visa’s global payments network to develop new payment and commerce experiences.

The companies will explore ways to make cross-border payments easier for travellers to and from China through Tencent’s TenPay Global platform and Visa Pay. They will also look at expanding cross-border remittance services through Visa Direct, enabling more overseas senders to transfer funds into the Weixin Pay ecosystem.

Tencent and Visa will also examine how AI and agentic technologies could support digital commerce, including AI agents that help users discover, select and purchase products and services.

The companies said they will focus on maintaining consumer control, security and trust while exploring new AI-enabled payment experiences.

The partnership builds on existing work between the two companies, including collaboration around Tencent’s gaming ecosystem, international payments platform Midas and risk management services. The companies also plan to explore AI payment opportunities across Tencent’s overseas AI businesses.

Dowson Tong, senior executive vice president of Tencent and chief executive of its Cloud and Smart Industries Group, 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.”

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