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Visa/MC & Alipay/WeChat K-I-S-S-I-N-G

     
7:45 pm on Nov 9, 2019 (gmt 0)

Senior Member from CA 

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Something to keep an eye on...

Part 1: Discover, MC, and Visa have partnered with Alibaba's Ant Financial's Alipay to allow foreigners to use their cards to top up Alipay's prepaid card (minimum 100 yuan, maximum balance 2000 yuan).

Part 2: MC, Visa, Discover, have partnered with Tencent's WeChat to directly link foreigner's cards to WeChat Pay digital wallet app for a (current trial) limited number of services.

Previously only Chinese bank cards/services could be used.

Note: the past year has seen over 30 million foreign visitors spend more than 70 billion USD.

If this initial trial proves successful I can (1) see it use case broadened within China and (2) a sooner rather than later Chinese digital payment foray into the wider world, which is far behind in such offerings. And of which Discover, MC, and Visa are apparently well aware...
2:34 am on Nov 12, 2019 (gmt 0)

Administrator from JP 

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Interesting that the Chinese partner up with global credit cards, while the Japanese have been seemingly trying to do it on their own or just partnering with Japanese financial institutions.