English
Back
Download
Log in to access Online Inquiry
Back to the Top

Chinese payment giants revive effort to accept foreign credit cards

$TENCENT (00700.HK)$ and $BABA-W (09988.HK)$ Ant Group said that they would allow users to link international credit cards to their platforms, an issue that has long plagued foreign visitors as the country’s payment system has kept credit cards out for years.

Tencent, operator of the popular chat app WeChat and payment network WeChat Pay, said on Wednesday (Jun 28) that WeChat users overseas can link credit cards issued by Visa to their WeChat app from next month. Foreign tourists can then pay with WeChat when travelling in mainland China.

This comes after $MasterCard (MA.US)$ announced last week that cardholders can link credit or debit cards to the Alipay digital wallet where they can finally “pay like a local”. Alipay is the mobile payment app owned by Ant.
Chinese payment giants revive effort to accept foreign credit cards
“Our efforts to further open payment services to visitors coincide with the full resumption of travel and tourism to China, as well as major upcoming international events in the country scheduled this year,” Tencent said in a statement on Wednesday.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more
2
4
+0
1
Translate
Report
18K Views
Comment
Sign in to post a comment
focus on hot stocks
523
Followers
5
Following
3063
Visitors
Follow
Reassessing Chinese Assets
Following the introduction of China's groundbreaking DeepSeek technology, Wall Street giants have revised their investment outlooks for the Chinese market.