This will allow tourists to use their smartphones to pay tens of millions of Chinese merchants that already accept the domestic version of WeChat Pay.
WeChat Pay and Alipay, the two dominant Chinese mobile payments services, had for years limited the use of foreign bank cards due to the government’s rigid financial and data controls.
After the country reopened its borders to overseas visitors earlier this year, difficulties in making everyday payments have become a frequent source of complaints.
Shenzhen-based Tencent plans to change that by letting foreign users link their credit or debit cards issued by Visa and other major international operators from July, said Royal Chen Qiru, vice-president of Tencent Financial Technology.
The number of online payments users in China surpassed 911 million in December 2022, accounting for around 85 per cent of the country’s internet population, according to the latest report by China Internet Network Information Centre.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
