Tencent and Visa signed a memorandum of understanding on Oct. 29 to establish a cooperation framework covering cross-border payments, agentic commerce, enterprise AI, and global expansion support for enterprises. The partnership will leverage Tencent's TenPay Global platform and Visa Pay to facilitate cross-border transactions for inbound and outbound travelers, while deepening integration with the WeChat Pay ecosystem through Visa Direct for cross-border remittances. A key focus of the agreement is exploring next-generation agentic payment scenarios using Visa Intelligent Commerce technology. This initiative aims to enable AI agents to assist users in discovering, selecting, and purchasing goods and services autonomously. The collaboration follows Visa obtaining a license in early October to prepare for establishing a bank card clearing institution within China.