Your current location:HOME >travel >China further streamlines mobile payments for foreigners 正文
TIME:2024-05-21 13:32:09 Source: Internet compilationEdit:travel
(Xinhua) 09:05, March 02, 2024Maria (R), a Brazilian student, scans a QR code on a vending machine a
Maria (R), a Brazilian student, scans a QR code on a vending machine at the Yenching Academy of Peking University in Beijing, capital of China, April 13, 2023. (Xinhua/Ren Chao)
BEIJING, March 1 (Xinhua) -- China has reiterated its commitment to facilitating mobile payment for foreigners, a move that indicates its resolve to enhance high-level openness.
Zhang Qingsong, deputy governor of the People's Bank of China, said the central bank will guide payment platforms such as Alipay and Tenpay to raise the single transaction limit for overseas travelers using mobile payments from 1,000 U.S. dollars to 5,000 dollars, and the annual cumulative transaction cap will be raised from 10,000 dollars to 50,000 dollars.
Efforts will also be made to simplify identity verification and provide easier access for foreign visitors to manage various processes, such as card binding, according to Zhang.
Zhang said the central bank will also guide payment institutions to introduce a slew of convenient measures to "make mobile payments products satisfactory and pleasing for foreign friends to use."
After years of rapid growth, China has emerged as a front-runner in mobile payment. The penetration rate for mobile payments in the country reached 86 percent, the highest in the world, by the end of 2023.
However, the widespread use of mobile payment also poses hurdles for first-time visitors to China. Foreign visitors relying on bank cards and cash may encounter difficulties during payment processes, as street vendors or small-scale service providers often prefer mobile payment to cash or international credit cards.
The inconvenience experienced by some foreign visitors can mainly be attributed to the differences in payment practices between China and other countries, said Xu Hong, dean of the College of Tourism and Service Management, Nankai University.
"It is imperative to develop diversified means of payment and provide convenient and tailored services for foreign visitors to meet their payment demand," Xu added.
The Chinese government has already rolled out multiple measures to help foreigners enjoy a hassle-free payment environment in China, akin to that enjoyed by locals.
Meanwhile, Chinese banks are actively working to broaden the acceptance of overseas bank cards and facilitate cash usage within the country. Major payment institutions are encouraged to diversify the range of mobile payment products and develop digital yuan solutions to cater to the mobile payment requirements of foreigners.
Alipay and WeChat Pay, China's two major payment apps, now allow foreign users to link their international credit cards, including Visa and Mastercard, to their platforms, greatly streamlining the payment processes.
Efforts are also afoot to strengthen regulations concerning mobile payments. China has issued rules on the supervision and administration of nonbank payment institutions to address concerns over privacy protection.
Zhu Keli, a researcher at the China Institute of New Economy, said that enhancing payment services can stimulate consumption among foreigners in China and consequently spur the development of related industries.
Meanwhile, the payment environment also plays an important role in enhancing the country's image in the global arena, Zhu added.
Target to lower prices on basic goods in response to inflation2024-05-21 13:15
Rebel Wilson posts rare photo of mother Sue Bownds and reveals her unique career2024-05-21 13:01
Stuart Skinner gets 1st postseason shutout as Oilers beat Kings 12024-05-21 12:59
High hopes on tourism boom as Thailand cheers Chinese tourists' return2024-05-21 12:47
Supreme Court declines to hear challenge to Maryland ban on rifles known as assault weapons2024-05-21 12:34
Bookings for cultural, culinary travels surge ahead of Spring Festival2024-05-21 12:33
iQIYI signs strategic partnership with Tourism Authority of Thailand2024-05-21 12:16
Bookings for cultural, culinary travels surge ahead of Spring Festival2024-05-21 11:59
Red Lobster seeks bankruptcy protection after closing some restaurants2024-05-21 11:14
Scotland's leader faces a week of high2024-05-21 11:07
Six killed in a 'foiled coup' in Congo, the army says2024-05-21 13:22
Pacers hit franchise playoff best 22 32024-05-21 13:10
Pacers hit franchise playoff best 22 32024-05-21 13:03
China's domestic tourism expected to fully recover in summer2024-05-21 12:58
Nuggets blow 202024-05-21 12:52
Scenery of Shigu Town, located by huge bend of Jinsha River in SW China2024-05-21 12:43
James Corden reunites with his Gavin & Stacey co2024-05-21 12:26
Trains added to ease ticket shortage2024-05-21 11:29
Trump accepts a VP debate but wants it on Fox News. Harris has already said yes to CBS2024-05-21 11:28
Chelsea defender Cucurella replaces injured Gaya in Spain squad2024-05-21 11:17