New Payment App Alipay for Visitors to China
Visitors to China can now enjoy a new mobile-payment app.The latter is developed to allow tourists and business travelers to make mobile payments on the mainland in the country. This was impossible in the past. This article will tell you more about the topic and will help you with PayPal micropayments UK.
New Payment App in China &PayPal Micropayments UK
In China, payments made via mobile devices accounted for $42 trillion in 2018, as the People’s Bank of China reported. Alibaba (BABA) and Tencent (TCEHY) are playing a dominant role in the space of cashless payments in China. They offer Alipay and WeChat Pay platforms to consumers.
According to Alibaba-affiliated Ant Financial, this new international service will be perfect for the increasing number of visitors to China. By the way, about 31 million people visited China last year. They spent nearly $73 billion, based on government statistics.
Thanks to this new service, Alipay users can download and purchase prepaid cards via the app with the help of international debit/credit cards. The prepaid cards come with a 90-day expiration period. The remaining money canautomatically be refunded.
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Making Payments in China
Previously, the only method to use the mentioned apps for payments was to open a Chinese bank account. Now, it’s no longer the only option.
Thanks to Alipay, tourists can now open a prepaid account to transfer money from Visa, MasterCard, JCB, or MasterCard. It’s allowed to load up to ¥2.000RMB ($285USD) at a time.WeChat Pay, which is owned by Tencent, has recently announced that it’s going to launch services for foreign visitors to China.
To sum up, Alibaba’s Ant Financial has recently introduced its new international mobile-payments app Alipay. This makes it possible for visitors and business travelers to complete mobile payments in mainland China.
Author Bio: Payment industry guru Taylor Cole is a passionate payments expert who understands the complex world of merchant accounts and PayPal micropayments UK. He also writes non-fiction, on subjects ranging from personal finance to stocks to cryptopay. He enjoys eating pie in his backyard porch, as should all right thinking people.