Business
The Chinese capital has set up overseas guest payment service centers at its two major airports to enhance payment options for international visitors.
Demonstration zones have been established in Beijing Capital International Airport and Bejing Daxing International Airport thanks to collaboration between China's central bank, the People's Bank of China (PBOC), and the Beijing local government. The zones, aiming to cater to the diverse needs of overseas visitors for payment services, officially began operations on Monday.
"We have formulated specific work plans and issued guidance. Overseas visitors can swipe their cards for large-amount payments, scan QR codes for small-amount payments, or opt for cash transactions. We are focusing on key projects including mobile payments, acceptance of overseas bank cards and cash-using account services, and have introduced a series of targeted solutions," said Zhang Qingsong, PBOC's deputy governor.
Global passengers can scan QR codes to pay via various channels, including payment apps like Alipay and WeChat, or cards like Visa and Mastercard, while inbound travelers from countries such as Singapore, Malaysia, Thailand, and South Korea can use their local e-wallet.
In addition, merchants at the two airports now fully support QR code payments.
"Next, we will adhere to the standards we have set and make 'Beijing service' a brand to further expand the functions of the payment service center and improve the integrated development of cross-border financial services. We will expand the coverage of these payment services and promote them to other areas in Beijing, creating a showcase that highlights Beijing's robust financial services," said Jin Wei, vice mayor of Beijing.
These services have largely shortened payment procedures for overseas visitors.
"If you're not familiar with the local [payment] ecosystems, such as Wechat or Alipay, it's quite difficult to get around. So with this new service, you basically can, as soon as you arrive, you can hook a foreign credit card to Alipay. And then you're right into the system. You don't have to exchange money at a money exchange. You don't have to return it on your at the end of your trip. So it's really quite a nice advancement for foreigners who are visiting China," said Michael Wester, a long-term foreign resident and owner of a Beijing-based business that services overseas visitors.
Recently, China has further expanded its global outreach by signing visa-free travel agreements with Singapore and Thailand.
The introduction of this payment service is expected to help streamline business transactions and travel for foreigners in China are expected, fostering greater ease and efficiency.