Chongqing - Mobile payment is highly developed and widespread in China, predominantly through Alipay and WeChat Pay. These platforms enable users to swiftly make payments via QR codes, applicable almost anywhere, whether online or in physical stores. Users can link their bank accounts or top up through various methods, enhancing convenience in daily activities such as public transport, dining, and shopping. According to the China Internet Network Information Center (CNNIC), as of December 2023, over 954 million Chinese netizens utilize mobile payments routinely.
The People's Bank of China recently released a comprehensive Guide to Payment Services for foreigners, detailing quick payment options, including bank cards, mobile payments, and cash. These systems accommodate major international cards like Visa and MasterCard and are supplemented by mobile payment tools such as Alipay, WeChat Pay, and UnionPay QuickPass, which simplify smartphone transactions. This adaptability is especially advantageous for foreigners who do not possess Chinese bank accounts.
Moreover, foreigners can easily open foreign currency accounts at major Chinese banks with just their passports, facilitating cross-border transactions and daily expense management. The promotion of the digital yuan introduces another convenient payment method for foreigners.
International students in China, like Abdulsalam and Shehab from Chongqing University, shared a smoother mobile payment experience. They appreciate the advanced, seamless transaction methods, reflecting the modernized financial landscape in China.
(Li Tao, as an intern, also contributed to this report.)