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In accordance with the new PBOC policy, Ant Group is increasing transaction limits for travelers using e-wallet services.

March 08, 2024
1 Min Read

Ant Group is increasing the yearly cumulative transaction limit from USD 10,000 to USD 50,000 and the single transaction limit for foreign visitors utilizing its cross-border payment services from USD 1000 to USD 5000 in response to China's new policy to facilitate foreign visits.

Ant's dual cross-border mobile payment solutions are subject to the new regulations. Thanks to Ant International's cross-border payment system Alipay+, tourists from other countries can use their home wallets to make payments just like locals, or they can download the Alipay app and bind their international cards.

Ten such wallets will be able to seamlessly process payments on China's 80 million merchant network as of February 2024. These merchants include AlipayHK (Hong Kong SAR, China), MPay (Macao SAR, China), Hipay (Mongolia), Changi Pay and OCBC Digital (Singapore), Touch 'n Go eWallet (Malaysia), Kakao Pay, Naver Pay and Toss Pay (South Korea), and TrueMoney (Thailand).

China's State Council published guidelines on March 7, 2024, with the goal of improving payment services and making payments easier for visitors from other countries. The People's Bank of China (PBC) has also declared that it will direct payment platforms to increase the $1,000 single transaction limit and the $50,000 annual transaction limit for foreign citizens utilizing mobile payment services.

Alipay has introduced a multi-language translation feature for foreign visitors, catering to expats and other international tourists. With the implementation of new visa-free regulations and increased efforts to boost international aircraft numbers, travel to China is anticipated to increase in 2024. According to data from Alipay, during Chinese New Year 2024, purchases made at merchants in the Chinese mainland using international card-enabled Alipay accounts increased by 500% as compared to 2023.
 

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