Payment Methods in China
Cash
Cash is often the most efficient and widely accepted payment method when you first visit a new place. In China, RMB (Renminbi) is the legal currency.
You can exchange foreign currency for RMB at airports or banks, or withdraw cash from ATMs that accept Visa or Mastercard. Some of the most reliable ATMs are operated by the Bank of China and the Industrial and Commercial Bank of China. If you need small-denomination banknotes, such as 10-yuan notes, some ATMs from China Merchants Bank and Agricultural Bank of China offer a small-denomination withdrawal service.
Please note that banking regulations set the maximum daily cash withdrawal limit at 10,000 yuan.
Online Payment Platforms
Online payments are widely used in China. Alipay and WeChat Pay are the most common services.
You can download WeChat from https://weixin.qq.com and Alipay from https://www.alipay.com.
First, download the app and register for an account. You will need to provide a phone number and verify it with an SMS code.
Next, you must upload clear photos of your passport to complete the identity verification process. After that, you can activate your payment account and link your card (both VISA and MasterCard are accepted). However, please note that using an international card may involve handling fees and currency conversion charges.
Finally, you can scan a merchant’s QR code to pay directly, or show your payment code at supermarkets.
Additionally, Alipay has introduced Tap to Pay technology and provides devices to some small retailers. If your phone supports NFC and has Alipay installed, you can tap the blue symbol to pay or place an order.
Debit/Credit Cards
In most situations, cards are also an efficient payment method. Almost every merchant has a POS machine. UnionPay is the most widely accepted card network in China. Some large malls have POS machines that support VISA and MasterCard (Note that very few POS machines support Apple Pay or Google Wallet).
You can also apply for a debit or credit card at a bank. You should contact a local bank for more information. A passport and residence permit are required.
E-CNY Hard Wallet
The E-CNY Hard Wallet is a physical card or device for using China’s digital currency. It is a convenient option, especially for short-term visitors.
You can purchase and top up a Hard Wallet at designated bank counters, such as those at the Bank of China. Some airports and shopping malls also have self-service machines for this purpose.
To use it, you simply tap the Hard Wallet on POS machines that support the E-CNY. This payment method is accepted by some merchants in scenarios like public transportation, supermarkets, and shopping malls.
A key advantage is that it allows for basic payments without needing a Chinese bank account or a local phone number. Please note that the balance on a single Hard Wallet card cannot exceed 2,000 yuan.