In early June, Visa International announced that banks outside of the Chinese mainland that process transactions from the cards through China Unionpay's system rather than Visa's will be fined $50,000 by the company for the first transaction. They will be $25,000 per month for the following transactions,?Visa said. China Unionpay, China's only debit and credit card payment handling network, responded shortly after,?saying that "no party has the right to limit cardholders' choice of overseas payment network".

??? Visa to block UnionPay's int'l transactions

????China UnionPay fires back at Visa

????China's UnionPay expands

??? Visa's UnionPay ban remains unenforced