With the resumption of travel, cross-border business and major sports events in the Chinese mainland, Mastercard announced today that its cardholders can now link their cards to WeChat Pay, or as it’s locally called, Weixin Pay, a mobile payment service within the WeChat app, as a new payments option that further improves the digital payment experience of travelers during their visits.
Expanding on a partnership established in 2019 to offer enhanced digital payment solutions to both consumers and merchants, the latest development gives Mastercard cardholders full access to WeChat Pay’s merchant network in the Chinese mainland and provides another safe and convenient way for travelers to pay like a local when traveling around the Chinese mainland1.
The extended merchant network includes categories such as dining, transportation, shopping, accommodation and more. Travelers with Mastercard cards can now utilize multiple payment methods through the WeChat app, such as scanning QR codes, presenting payment codes, Mini Programs and in-app payments, enriching their payment experience online and offline.
For merchants, especially small and medium-sized enterprises (SMEs), the WeChat Pay-Mastercard tie up gives them more opportunities to transact with travelers who now have access to one of the most widely accepted payment methods in the Chinese mainland, allowing them to get around easily, without hassle.
According to the latest Mastercard data insights, consumer spending has shown resilience with a continued focus on experiences and travel. During the second quarter of 2023, cross-border travel was robust, reaching 154 percent of 2019 levels, up 6 percent from the previous quarter. Moreover, the Chinese mainland saw improvement in inbound cross-border travel to approximately 50 percent of the levels seen in 2019. As the Chinese mainland anticipates major international sporting events, such as the Asian Games, it embraces the prospect of welcoming more travelers.
1 People entering the Chinese mainland can use their passports, Mainland Travel Permit and Mainland Residence Permit for Hong Kong SAR, Macau SAR, and Taiwan residents, or Foreign Permanent Resident ID Card to set up their WeChat Pay, link a Mastercard credit card or debit card and start enjoying mobile payments.
