Author: Danielle Popov

Chinese mobile payment platforms have long been dominated by domestic firms, catering to locals and restricting use by foreigners due to financial and data-control laws. However, in a recent announcement, the People’s Bank of China promised to make it more convenient for visitors to make payments in China, as part of a broader effort to attract overseas tourists and foreign investment. Yan Fang, head of the PBOC’s Payment and Settlement Department, stated that foreign visitors can now choose among various payment methods, including bank cards, cash, and mobile payments. In June, there was a significant increase in transactions made via…