International Credit Cards Now Accepted on China’s Biggest Payment Apps
International travelers to China have a reason to celebrate. China’s biggest payment apps, Alipay and WeChat Pay, have started accepting international credit cards. This change is a significant one. It allows travelers to use services like taxis and subways with ease. They can also shop at outlets across the country using these apps. This move marks a significant shift in China’s approach. It shows a new focus on foreign investment and international tourism.
A Revival of Efforts
This development marks a renewed effort by Alipay and WeChat Pay to accommodate foreign credit cards, following some limited access provided in late 2019. The move aligns with Beijing’s strategy to attract foreign investment and international travelers to boost its economy.
Alipay’s Announcement
Alipay, operated by Ant Group and the largest payment app in China, announced that users can now link their Visa, Mastercard, Diners Club, and Discover cards to their digital wallets. This change is effective immediately and is expected to benefit the increasing number of foreign tourists visiting China.
WeChat Pay Follows Suit
WeChat Pay, owned by Tencent and the second most popular payment app in China, made a similar announcement. Users can now link their Visa, Mastercard, JCB, or Discover credit or debit cards for payments at millions of merchants across China.
China’s Cashless Society
China is nearly a cashless society, with $434 trillion in electronic transactions annually. Over 80% of daily consumption transactions occur on mobile platforms, with Alipay and WeChat Pay dominating the digital payment services market.
Previous Restrictions for Foreign Visitors
Previously, foreign visitors found it challenging to access these apps’ services as they required a mainland Chinese bank account and a local mobile phone number. The easing of these restrictions is a welcome change for international travelers.
The Impact of Covid Restrictions
The stringent Covid restrictions over the past three years led to a tightening of conditions for foreign credit card use on these apps. However, as the country emerges from these restrictions, Alipay and WeChat Pay have begun to loosen these conditions.
Partnerships with International Card Organizations
Mastercard recently announced that its cardholders can link their cards to the Alipay app, allowing them to make cashless payments across China. Similarly, Tencent announced that it would open its WeChat Pay system to international card organizations like Visa.
In a nutshell, the acceptance of international credit cards on China’s major payment apps marks a significant step in making the country more accessible to international travelers. As China continues to host large-scale international events and competitions, these changes will undoubtedly enhance the mobile payment experience for foreign users in the country.
