GZ releases policy to enhance payment services for Canton Fair

Guangzhou will optimizate payment services to enhance convenience for both inbound tourists and participants of the Canton Fair, according to a press conference held by Information Office of the Government of Guangzhou on April 10.

The city has implemented several measures to address the inconveniences faced by inbound travelers, including insufficient deployment of overseas bank card terminals, difficulties in cash payments, and limited awareness and accessibility of mobile payment options.

A press conference about the Canton Fair is held by the State Council Information Office, P.R.C. on April 1. Xinhua

Key areas, including major commercial districts, tourist attractions, resorts, cultural and entertainment venues, accommodations, and transportation hubs, have been identified for POS terminal placement and upgrades. As of April 8, coverage of overseas bank card acceptance among key merchants in Guangzhou has reached nearly 80%.

Guangdong branch of the People's Bank of China is prioritizing entry ports to set up RMB cash exchange facilities, making currency exchange and cash usage easier for foreign tourists.

As of March, the coverage rate of ATMs supporting overseas bank card withdrawals in Guangzhou is high, reaching 98%.

The city also encourages mobile payments for inbound tourists and attendees of the 135th Canton Fair. With China's 86% mobile payment adoption rate, foreigners are suggested to link their overseas bank cards to popular platforms like Alipay and WeChat. Transactions below a certain amount are exempt from identity verification. The city has raised the mobile payment limit to US$5,000 per transaction andUS $50,000 annually to address payment limit concerns.

Currently, residents from Hong Kong and Macao can pay for public transportation by linking their local e-wallets to "Yangcheng Tong." Similarly, tourists from 13 countries and regions including Singapore, Malaysia, Thailand, South Korea, and Mongolia can utilize their e-wallets for payments within China.

In March, Guangzhou witnessed 126,000 overseas bank card transactions totaling 170 million yuan (US$23.5 million). ATM withdrawals reached 366,000 transactions, amounting to 88 million yuan, while foreign currency exchanges totaled 23,000 transactions at 50.617 million yuan.

According to the press conference, the city is confident in achieving a 90% acceptance rate for overseas bank cards in key areas before the Canton Fair. (GD Today)