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MNI BRIEF: PBOC To Support Foreign Visitors' Digital Payments

MNI (Singapore)
(MNI)Beijing

The People’s Bank of China will facilitate mobile payments for foreign visitors by simplifying processes for linking overseas bank cards to mobile payment applications and increasing payment limits, said Zhang Qingsong, deputy governor of the PBOC told reporters on Friday.

The Bank will guide major platforms including Alipay and Tenpay to increase limits for single transactions for foreign nationals using mobile payments from USD1,000 to USD5,000, and the annual cumulative transaction limit from USD10,000 to USD50,000, Zhang said, noting that protection of personal information should be a priority.

In 2023, four million inbound travelers used mobile payments in China, with the number of transactions exceeding 70 million, totaling over CNY10 billion, Zhang said.

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