china credit cards foreigner deposit and mobile payments

If you're a foreigner planning to live or travel in China, understanding how credit cards and mobile payments work is essential. Most Chinese credit cards require a foreigner's deposit, which can be a significant amount.

You can deposit up to 50,000 CNY (around $7,300 USD) in a Chinese bank account to obtain a credit card, but some banks may require a higher deposit. The deposit amount and requirements can vary depending on the bank and credit card type.

In China, mobile payments have become increasingly popular, with Alipay and WeChat Pay being the two leading platforms. You can link your credit card to these platforms for easy transactions.

It's quite challenging for foreigners to get a credit card in China. Different banks have different requirements, but one thing is certain, you'll need to deposit a certain amount of money first to the account.

You can link your international credit or debit cards to WeChat Pay or Alipay, but not all cards are accepted. Most Visa, MasterCard, and American Express credit cards are accepted, but debit cards are less reliable.

Some banks may have specific requirements for certain card types, like Revolut cards, which work smoothly for some users. However, getting a credit card as a foreigner is almost impossible, even with a large amount of cash to deposit in the bank.

To get a credit card in China, you'll need a working visa and a red working book, which is a document issued to foreign employees. Your company will also need to provide a letter stating your monthly income.

It's worth noting that the banks in China have very strict rules concerning approval of credit cards for foreigners. So, good luck if you're trying to get one!

WeChat Pay is a convenient and seamless payment method for foreigners in China, allowing them to link their international credit or debit cards to the platform. This enables them to make payments to merchants across various sectors, including dining, shopping, transportation, and hotel accommodation.

To link your foreign card to WeChat Pay, you'll need to follow these simple steps: update your app to the latest version, open WeChat, go to the "Me" section, tap on "Wallet" to access your payment options, click on "Bank Card" and choose "Add a New Bank Card." Then, enter your card number, select the type of card, and the issuing organization, and fill in the required card and personal information.

After filling out the information, click "Submit" and a confirmation message will appear when the binding is successful. You'll also receive an SMS verification code, which you'll need to enter to complete the verification process.

The mobile phone number you use for verification should be capable of receiving SMS verification codes, and it doesn't have to be a mainland China number. Once you've completed the verification process, create a 6-digit payment password to ensure the security of your WeChat Pay account.

WeChat Pay supports a range of international credit cards, including Visa, MasterCard, JCB, and Discover Global Network, as well as debit cards from various banks. However, some users have reported that debit cards are less reliable, and specific card types may work better with different banks.

Here's a summary of the steps to link your foreign card to WeChat Pay:

Note that some users have reported that WeChat may occasionally ask for additional identification or a small test payment to finalize the setup.

Alipay is a popular mobile payment platform in China that allows foreigners to connect their international bank accounts and make payments through their phones.

You can download and open Alipay, set up an account if you don't have one, and opt to use your foreign number for verification.

To add an international credit or debit card to Alipay, navigate to the "Bank Cards" section, click on "Add a Card", and input your card details.

Alipay may ask for additional documents or SMS confirmation to complete the verification process.

A small in-store purchase in China is required for full activation, so make a trial payment to ensure the connection works seamlessly.

Most Visa, MasterCard, and American Express credit cards are accepted by Alipay, although debit cards may be less reliable.

Some users have found that specific card types work better with different banks, so it's worth trying out a card like Revolut to see if it works smoothly.

Transaction limits apply, with a maximum of RMB 3,000 (US$416.88) per single transaction for Alipay, compared to RMB 6,000 (US$833.76) for WeChat Pay.

Mobile payments in China are a convenient and seamless way to make transactions, especially for foreigners. China's mobile payment market is expected to reach a value of US$37.15 trillion by the end of 2023, with an annual growth rate of 8.38 percent between 2023 and 2028.

Foreign users can make payments in China via WeChat by linking their international credit or debit cards to the WeChat Pay platform. This allows them to "pay like a local" in China, without the need to carry cash or open a Chinese bank account. Foreign users can link their cards to WeChat Pay by following the simple steps outlined in the article.

To link a foreign card to WeChat Pay, users can update their app, access the "Me" section, tap on "Wallet", and click on "Bank Card" to add a new card. They will need to enter the card number, select the type of card, and fill in the required card and personal information. A confirmation message will appear when the binding is successful.

Some credit cards work better with different banks, so it's worth noting that most Visa, MasterCard, and American Express credit cards are accepted, but debit cards may be less reliable.

Making payments in China is a breeze, especially with the rise of mobile payments. China's mobile payment market is one of the most advanced in the world and is expected to reach a value of US$37.15 trillion by the end of 2023.

To make payments in China, foreign users can link their international credit or debit cards to the WeChat Pay platform, making it easy to set up on their WeChat app. Foreign visitors can add their international cards issued by Visa, Mastercard, JCB, or Discover Global Network.

WeChat Pay allows foreign users to make payments to merchants across various sectors, including dining, shopping, transportation, and hotel accommodation. This convenient payment method enables foreign users to “pay like a local” in China.

QR codes have played a pivotal role in facilitating fast and convenient mobile payments in China. These codes can be found at various shops and establishments across the country, further encouraging the adoption of digital payment methods.

Tencent's recent upgrade to WeChat Pay has put it in direct competition with Alipay's similar service for overseas users. Both platforms offer comparable functionalities to cater to the needs of international users in China, employing slightly different approaches to enhance the payment experience.

By allowing international credit or debit card linkage, Tencent aims to simplify payment processes for inbound travelers and expatriates, promoting a cashless and convenient payment environment in the country.

Mobile payments in China have come a long way, with the market expected to reach a value of US$37.15 trillion by the end of 2023.

The widespread availability of QR codes has played a pivotal role in facilitating fast and convenient mobile payments. These codes can be found at various shops and establishments across the country.

China has taken a unique path in adopting mobile payments, unlike some countries that underwent a gradual transition from cash to credit cards. Credit card usage in the country remains relatively low compared to other payment methods.

Major players like Alibaba and Tencent have introduced digital payment platforms, such as AliPay and WeChat Pay, which have emerged as powerful entry points to vast ecosystems of both offline and online goods and services.

Tencent's recent upgrade to WeChat Pay allows foreign visitors to link their international credit or debit cards, putting it in direct competition with Alipay's similar service for overseas users.

WeChat Pay's upgrade is specifically tailored to foreign users in China, providing them with seamless access to millions of merchants across various sectors. By allowing international credit or debit card linkage, Tencent aims to simplify payment processes for inbound travelers and expatriates.

To use WeChat Pay with a foreign card, users can follow these simple steps: open WeChat, go to the Wallet section, link a new bank card, confirm through SMS, and optionally verify through additional identification or a small test payment.

Most Visa, MasterCard, and American Express credit cards are accepted, although debit cards may be less reliable. Specific card types may work better with different banks, so it's worth checking beforehand.

Here's a list of common cards that work with Alipay and WeChat Pay: