Do bear in mind that this will be the credit card your loaded Alipay credits will be charged to. Lastly, fill in your international credit card details which you wish to link to. Select the amount which you want to load into your Alipay account. Step 4: At this point, you will be prompted to load cash into a prepaid e-wallet. Step 3: Tap on ‘TourPass’, a blue icon that is in the shape of a luggage and a credit card. Choose the international version of Alipay. A verification code will be sent to your mobile number. Step 1: Download Alipay on your Google Store or Apple Store. Alipay accepts credit cards including VISA, MasterCard, JCB, Diner Club International, and American Express (AMEX). So, you might be wondering what types of international credit cards. In November 2019, Alipay launched its international version of the mobile app that supports international credit cards. For example, for a Singaporean company, Stripe’s charge is 2.2% + S$0.35. They charge a fixed fee + a percentage fee for each transaction. Their software supports the transactions in every way (technical, banking, etc.) and they assume all the risks for you. There are those who require you to open a Merchant account yourself, and those who offer you theirs, e.g. Payment gateways, which play an intermediary role between you and the client, are e-commerce service providers, facilitating the way you make and get e-payments. To do that, you will have to turn to a payment gateway, a company that will become an intermediary for your e-transactions. However, you can’t transfer the money directly to your Merchant Account via Alipay/WeChat Pay. Additionally, in order to cover possible transaction risks, the bank will most likely require a deposit. However, one might find this option too time-consuming: in order to open a Merchant bank account, a bank would usually require a copy of your company profile from the ACRA database, and then they might require as many additional documents on your business activity as they want until they are satisfied with your credibility. Here’s an example of a form you will need to fill in: Most Singaporean banks offer you this option and it’s usually used for e-payments. As China anticipates major international sporting events, such as the Asian Games, the country embraces the prospect of welcoming more international travelers.ġPeople 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 Weixin Pay, link an Mastercard credit card or debit card, and start enjoying mobile payments.Without Opening a Chinese Bank Account Get a Merchant Account in a Singaporean Bank + Payment GatewayĪ Merchant Account allows a company to get and process credit & debit card payments from its clients and partners. Moreover, China’s improvement in inbound cross-border travel reached approximately 50% of the levels seen in 2019. During the 2 nd Quarter of 2023, cross-border travel was robust, reaching 154% of 2019 levels, up 6% from the previous quarter. International travelers with Mastercard cards can now utilize multiple payment methods through Weixin app, such as scanning QR codes, presenting payment codes, Mini Programs, and in-app payments, enriching their payment experience online and offline.įor merchants, especially small and medium-sized enterprises (SMEs), the Weixin Pay-Mastercard tie up gives them more opportunities to transact with international travelers who now have access to one of the most widely accepted payment methods in China, allowing them to get around easily, without hassle.Īccording to the latest Mastercard data insights, consumer spending has shown resilience with a continued focus on experiences and travel. The extended merchant network includes categories such as dining, transportation, shopping, accommodation, and more. With the resumption of travel, international business, and major sports events in China, Mastercard announced today that its cardholders can link their cards to WeChat Pay, or as it’s locally called, Weixin Pay, a mobile payment service within the Weixin app, as a new payments option that further improves the digital payment experience of international travelers when visiting the country.Įxpanding on a partnership established in 2019 to offer enhanced digital payment solutions to both consumers and merchants, the latest development gives Mastercard full access to Weixin Pay's merchant network in China and provides another safe and convenient way for international travelers to pay like a local when traveling around the Chinese Mainland 1. By linking any Mastercard card to WeChat (Weixin in Mandarin Chinese) Pay, overseas visitors will have access to tens of millions of local merchants, while SMEs are set to benefit from a bigger pool of international buyers
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