Since 21 July, the Chinese government authorises visitors to link the account used with Visa and Mastercard cards to China's most popular mobile payment platforms.
This measure offers visitors the convenience of paying for a multitude of services online. Like booking taxis, taking the metro, hiring a bike or an electric scooter. Or pay for goods and services at millions of points of sale across the country.
Government authorisation is the result of efforts by online payment providers Alipay and WeChat Pay to accept foreign credit cards. These two platforms had already provided limited access to their services for foreign credit card holders in 2019. At that time, only a few shops and services recognised foreign card payments.
The Covid crisis had put the brakes on any further development. This authorisation is therefore most welcome. Observers explain this relaxation by Chinese regulators by the need to attract foreign investment and international tourists.. Such a measure could contribute to the revitalising China's economywhich is currently going through an air pocket.
Alipay, China's largest payment application managed by Ant Group, announced on Friday that foreign users can link cards issued by Visa and Mastercard, as well as Diners Club and Discover, to the Alipay digital wallet.
The announcement followed that of digital giant Tencent. It owns the country's second most popular payment app, WeChat Pay (Weixin Pay in China). WeChat users can now combine credit or debit cards issued by Visa, Mastercard, JCB or Discover to make payments at tens of millions of merchants in China.
An easier day-to-day life in an almost cashless country
This possibility is a giant steps forward for foreign visitorsbecause it simplifies everyday life in China. That's right, until now, it has been impossible to access mobile application services. The app had to be linked to a Chinese bank account and a local mobile phone number. However, thehina has become an almost cashless country. Many foreign travellers, for example, are refused cash payments in certain shops.
There are some 434,000 billion dollars worth of electronic transactions every year.. More than 80 % of these take place on mobile platforms, according to figures from Chinese card payment company UnionPay.
In order to pay online, foreign users must authenticate their identity by uploading their passport, while verification codes will be sent directly to potential foreign telephone numbers.
