China is addressing the challenges foreign visitors face with its domestic payments system, heavily reliant on QR codes, by implementing new regulations to make transactions more accessible. The government's efforts include mandating starred hotels and tourist destinations to support all types of card payments, including foreign bank cards. This move aims to ease the payment process for international travelers and the elderly. Concurrently, Paytm's UPI transactions have declined to 1.2 billion in March from 1.3 billion in February and 1.4 billion in January, while competitors like PhonePe and GooglePay have experienced gains.
Chinese hotels with three-star ratings and above have been told to accept foreign bank-card payments, as the government tries to make life easier for those visiting the country and giving its ailing economy a boost https://t.co/JKZjKQyC0S
#PhonePe said that the initiative will help #Indian tourists to provide familiar payment options during their stay. Read more https://t.co/bJ0Vq51o9y https://t.co/RUkElO8bmC
China has issued new guidelines mandating improved #payment services for the elderly and international travelers at starred hotels and tourist destinations. These establishments must now support all types of card payments, including both domestic and foreign bank cards.… https://t.co/hRJGNEFe8U
💸 @Paytm #UPI payments drop further in March; @PhonePe, @GooglePay show gains Paytm processed around 1.2 billion UPI transactions in March, down slightly from 1.3 billion transactions in February and 1.4 billion in January. By @PratikBhakta_89 https://t.co/GStVfWTY5W
In Depth: QR is king in China these days and that’s a big problem for foreign visitors who are shut out of the domestic payments system due to regulatory and technology issues. The government is now on a mission to open it up. https://t.co/oaRoqhresR