From CNBC:

China is encouraging businesses to accept foreign bank cards, mobile pay for international visitors, and the digital Chinese yuan. The country is stepping up efforts to encourage foreign tourism and business as authorities enact visa-free travel policies. Visa executives said the number of travelers in and out of mainland China remained below 2019 levels.

Last summer, the two dominant mobile pay apps, WeChat and AliPay, started allowing verified users to connect their international credit cards. Foreign visitors using Alipay or WeChat Pay don’t need to provide ID information if their total annual transaction volume is under $500, which is estimated to account for over 80% transactions.

Mastercard in November received approval from the PBOC to begin processing domestic payments in China, and Ant Group said users of 10 major mobile payment apps in countries such as Singapore and South Korea could use the same apps to scan Alipay QR payment codes in mainland China. China’s plan for supporting payments for foreigners in the country focuses on allowing card transactions for large payments and mobile pay for smaller amounts.



Read more: China’s central bank encourages local businesses to accept foreign payment cards