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China’s two dominant mobile payment solutions, WeChat Pay and Alipay, have announced that they will now allow foreign visitors to use their platforms for cashless payments. This move is expected to greatly benefit tourists and business travelers who visit China, as they will no longer need to rely on cash or struggle with language barriers when making payments.
Top things to Know
– WeChat Pay and Alipay, China’s leading mobile payment solutions, will now allow foreign visitors to use their platforms for cashless payments.
– This move is expected to greatly benefit tourists and business travelers who visit China.
– Foreign visitors will no longer need to rely on cash or struggle with language barriers when making payments.
– WeChat Pay and Alipay have a combined market share of over 90% in China’s mobile payment market.
– To use these platforms, foreign visitors will need to download the respective apps and link their international credit cards.
– WeChat Pay and Alipay have been widely adopted in China, with many businesses accepting these payment methods.
– The use of mobile payments in China has surged in recent years, with over 80% of Chinese consumers using mobile payment platforms.
– The convenience and ease of use of mobile payments have made them the preferred method of payment in China.
– The introduction of mobile payment options for foreign visitors is part of China’s efforts to promote cashless transactions and enhance the country’s digital economy.
– This move is also expected to boost tourism and make it easier for foreign visitors to navigate the local payment landscape.
China’s mobile payment market is dominated by two major players: WeChat Pay, owned by Tencent, and Alipay, owned by Ant Group. These platforms have a combined market share of over 90% in China’s mobile payment market. They have been widely adopted in the country, with many businesses accepting these payment methods.
To use WeChat Pay or Alipay, foreign visitors will need to download the respective apps and link their international credit cards. Once set up, they can make payments by scanning QR codes at participating merchants. This eliminates the need for cash and simplifies the payment process for foreign visitors.
The use of mobile payments in China has surged in recent years, with over 80% of Chinese consumers using mobile payment platforms. The convenience and ease of use of mobile payments have made them the preferred method of payment in the country. By allowing foreign visitors to use these platforms, China aims to provide a seamless payment experience and enhance the overall visitor experience.
This move is part of China’s efforts to promote cashless transactions and enhance the country’s digital economy. Cashless payments offer numerous benefits, including increased efficiency, reduced costs, and improved transparency. By encouraging the use of mobile payments, China aims to create a more efficient and secure payment ecosystem.
In addition to the convenience for foreign visitors, this move is also expected to boost tourism in China. With the availability of mobile payment options, foreign visitors will find it easier to navigate the local payment landscape and make purchases at various establishments. This, in turn, is expected to attract more tourists and boost the country’s tourism industry.
Overall, the introduction of mobile payment options for foreign visitors in China is a significant development. It allows tourists and business travelers to enjoy the seamless, cashless payment experience that has become the norm in the country. With WeChat Pay and Alipay now accessible to foreign visitors, China is taking a step towards becoming a more inclusive and technologically advanced destination for travelers.
– WeChat Pay and Alipay now allow foreign visitors to use their platforms for cashless payments.
– Foreign visitors can download the respective apps and link their international credit cards.
– Mobile payments have a market share of over 90% in China’s mobile payment market.
– Over 80% of Chinese consumers use mobile payment platforms.
– This move is part of China’s efforts to promote cashless transactions and enhance the digital economy.
– It is expected to boost tourism and make it easier for foreign visitors to navigate the local payment landscape.
Original article: https://techcrunch.com/2023/07/21/foreign-visitors-to-china-can-finally-go-cashless-like-locals/
