China to bring down payment barriers for foreigners to revive tourism
- Mobile payments limits will be increased and tourist attractions encouraged to accept cash and bank cards, central bank says
- Platform operators must also accept more cards issued by foreign banks
The central bank said on Friday that foreigners would be able to spend up to US$5,000 on a single mobile payment transaction, up from the previous US$1,000 limit.
The annual mobile payment ceiling for foreigners would rise from US$10,000 to US$50,000, putting them on a par with Chinese nationals, according to the People’s Bank of China.
Major tourist attractions across the country will upgrade payment facilities to accept the range of transaction methods, from mobile payments, to bank cards, and cash.
Hotels, restaurants, retailers, public transport and taxis must also accept cards and cash, and foreign currency exchange services will be improved.
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“We want to share with foreign friends the mobile payment method that we Chinese like the most, while respecting their habit of making large payments via bank cards,” PBOC deputy governor Zhang Qingsong said.
