Tencent and Ant Financial, fintech companies in China, have partnered with Mastercard to enable tourists to use international cards.
Travellers visiting China will now be able to use their international debit and credit cards for payments via Tencent and Ant Financial’s mobile wallets WeChat Pay and Alipay, respectively.
The Mastercard Global Destinations Index 2019 found China to be an emerging destination market.
Mastercard expects that the latest alliance will allow easy and smart payments in China for travellers, who hold 2.6 billion of its cards globally.
In addition to Mastercard, Tencent partnered with Visa, American Express, Discover and JCB to facilitate foreign cards use via WeChat Pay. Users will be able to make transactions at multiple merchants in China.
A statement from Visa read: “Visa believes this is a great step forward, both for consumers travelling to China and the overall payments industry.
“This partnership means that we’ll be working towards an environment where Visa cardholders will be able to use their Visa card in China at the millions of places where WeChat Pay is accepted, instead of having to rely on cash.”
Tencent was quoted by Reuters as saying: “The inconvenience of not being able to use the widely adopted local mobile payments is becoming a major pain point for overseas people living in or visiting mainland China.”
Meanwhile, Ant Financial introduced a new version of the Alipay app to support foreign cards. The app will accept debit and credit cards from Mastercard as well as Visa, Discover and JCB.