Shanghai rolls out enhanced payment services for expats ahead of CIIE
In the lead-up to the 6th China International Import Expo, Shanghai has implemented a comprehensive set of regulations and initiatives to upgrade payment options available for expatriates.
A priority lies in increasing the acceptance of overseas bank cards across key consumption scenarios. Over 36,000 point-of-sale devices have been installed across shopping centers, tourist destinations, restaurants, hotels, airports, and train stations. This has enabled easy transactions for international visitors. A sign marking acceptance of types of bank cards is shown on the site.
Among them, more than 35,000 POS machines now serve high-traffic commercial complexes, convenience stores, and tax refund shops. Another 500 terminals serve three-star and above hotels as well as scenic sites. Rail hubs and airports together have nearly 700 machines.
The complete foreign card payment processing has been made available to all retailers within the National Exhibition and Convention Center (Shanghai), the venue of CIIE. A green channel is offered for international cards that have trouble making payments.
Mobile payment functionality has also received enhancements. Apart from utilizing the UnionPay app to apply for a prepaid "tour card", visitors can now instantly link foreign cards to Alipay and WeChat Pay for in-app shop payments. About 30 countries and regions including China's Hong Kong, China's Macao, Japan, South Korea, and Singapore additionally enable the utilization of their home e-wallets in Shanghai.
To guarantee cash access, 8,212 ATMs citywide now dispense renminbi upon foreign card withdrawals. Concurrently, 6,410 teller counters spanning 3,512 Chinese banks provide currency exchange services and priority lanes for modest transactions. Dedicated forex operators and agencies further diversify options near transit hubs and hotels.
Shanghai moreover has vigorously promoted the digital renminbi, or e-CNY, which only requires overseas mobile numbers to open four types of e-wallets. These then enable on-site currency conversions and merchant spending. Over 1.7 million businesses in the city — including lodging facilities, eateries, retail establishments, and tourist attractions — presently accept digital currency.
The optimized combination of financial upgrades is coordinated under the municipal government of seven departments including the Shanghai Municipal Commission of Commerce and People's Bank of China Shanghai Branch.
Zheng Zheng contributed to this story.
