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Visa and Mastercard can now be used on China's biggest payment apps | CNN Business

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Visa and Mastercard can now be used on China’s biggest payment apps

Starting Friday, visitors are able to link their Visa\n \n and Mastercard\n \n accounts to China’s most popular mobile payment platforms, allowing them to book taxis, ride the subway and pay for goods and services at millions of outlets across the near-cashless country. The move marks a revival of efforts by Alipay and WeChat Pay to accept foreign credit cards after they provided some limited access in late 2019.

And more than 80% of the transactions for daily consumption take place on mobile platforms, according to figures from Chinese card payment company UnionPay. Alipay and WeChat Pay are dominant in digital payment services, accounting for a combined 91% market share. But for most foreign visitors, accessing the apps’ services was previously impossible — they needed to have a mainland Chinese bank account and a local mobile phone number.

 

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