How to pay in China: China’s cashless revolution – a guide to new payment options

Foreign employees and visitors in China can now pay with international cards, such as Mastercard or Visa, by scanning QR codes online or directly on site. The Ecovis experts explain the new cashless payment options.

In recent years, payment in China has undergone a remarkable transformation, evolving into an almost cashless society characterised by mobile solutions. While this payment method has not yet arrived in Germany, it is ubiquitous in China and simplifies people’s everyday lives. It has now become much easier for foreign visitors to use this new payment method locally.

Updating the digital payment system

Alipay, a leading mobile payment app operated by the Alibaba subsidiary Ant Group, forms the cornerstone of China’s digital payment system, alongside WeChat Pay, which is owned by Tencent. As of July 2023, these two major mobile payment platforms have introduced a significant update that allows users to link international cards, including Mastercard and Visa. This integration enables the seamless payment for goods and services online or in person by scanning QR codes.

China is once again showing how digitalisation can be used to drive growth.

Richard Hoffmann, Lawyer, ECOVIS Rechtsanwaltskanzlei Richard Hoffmann, Heidelberg, Germany

In addition, there was a recent change to the guidelines for WeChat Pay and Alipay which also benefits both international tourists and business travellers. In future, foreign visitors will be able to spend up to USD 50,000 per year with the mobile payment apps. This is a significant increase on the previous limit of USD 10,000, which considerably expands the financial options for foreigners. For individual transactions, the limit has been raised from USD 1,000 to 5,000.

China’s pioneering role in payments

The remarkable shift in Chinese payments reflects the country’s innovation and opens the doors for smoother global interaction. The recent developments in Alipay and WeChat Pay are helping foreign visitors navigate a digital cashless society. By integrating international cards and adjusting transaction limits, China is leading the way in the digitalisation of payments and sharing the benefits of these innovations with the world.

For further information please contact:

Richard Hoffmann, Lawyer, ECOVIS Rechtsanwaltskanzlei Richard Hoffmann, Heidelberg, Germany
Email: richard.hoffmann@ecovis.com

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