SHANGHAI, July 18,
2024 /PRNewswire/ -- A news report
from english.shanghai.gov.cn:
Shanghai has significantly
improved payment convenience for both elderly and foreign
residents, as highlighted by Chen
Yong, deputy inspector at Shanghai Head Office of the
People's Bank of China, during the
bank's 2024 third-quarter press conference on July 10.
Chen outlined several initiatives aimed at improving payment
services across the city, including a comprehensive action plan
issued on April 18. The plan targets
six major areas with 15 specific goals and involves 20 city
departments to ensure coordinated implementation.
Key actions include improving foreign card acceptance, enhancing
cash withdrawal convenience, and optimizing mobile payment
applications. As of June 30, over
50,000 merchants and 70,000 terminals in Shanghai had supported foreign card payments.
Foreign card transactions exceeded 1.9 million in the first half of
2024, totaling 3.5 billion yuan
($481.05 million).
The Shanghai government has
implemented a subsidy policy for point of sale (POS) machine
deployment, which has significantly boosted foreign card
acceptance. Additionally, the city focused on critical scenarios
such as metro stations and railway stations, equipping them with
card acceptance terminals to resolve payment issues.
To improve cash services, Shanghai has expanded the availability of
small-denomination cash withdrawals at ATMs in strategic locations
and opened 222 foreign currency exchange points.
The Shanghai branch of the
Industrial and Commercial Bank of China (ICBC), for instance, has increased its
cash reserves and installed 63 ATMs capable of dispensing
10-yuan notes. "We have set up over
450 small-denomination cash exchange channels to facilitate easy
access to change," said Mi Liang,
vice-president of the Shanghai
branch of ICBC.
The Shanghai branch of the Bank
of China has doubled the number of
merchants and terminals that accept foreign card payments,
resulting in a two-fold increase in transaction volume. "We have
ensured comprehensive coverage of foreign card acceptance in major
commercial zones and collaborated with major hotel chains and
international coffee brands," said Zhang Xinyuan, vice-president of
Shanghai branch of the Bank of
China.
Alipay, one of the most popular mobile payment platforms in
China, has been instrumental in
promoting mobile payment solutions for foreign residents. "By
June 30, Alipay's foreign card
binding' service had supported more than 400,000 foreign users,"
said Wang Lijuan, general manager of
Alipay. The company has also launched marketing campaigns and
expanded service coverage in major commercial areas and
transportation hubs.
China UnionPay has contributed to enhancing payment convenience
through its "Jinxiu Action 2024" campaign. "We have provided
substantial subsidies and support to acquiring institutions to
lower the cost of upgrading payment terminals," said Gong Zhongrui,
general manager of the Shanghai
branch of China UnionPay. The company has also promoted the use of
UnionPay cards and mobile wallets among foreign residents, ensuring
widespread acceptance in key commercial areas and tourist
attractions.
The establishment of comprehensive service centers at
Shanghai's international airports
has increased convenience for international travelers. These
centers provide 24-hour services, including payment,
telecommunications, cultural and tourism information, and
transportation assistance. On June
29, the first such center began trial operations at Shanghai
Pudong International Airport's T2 terminal.
Meanwhile, Shanghai has
optimized payment convenience for the elderly, with over 90 percent
of bank branches in the city having completed elderly-friendly
renovations. More than 6,000 self-service machines now support
passbook printing, and 656 elderly service stations have been
established. Additionally, major payment service providers have
enhanced mobile banking apps with large-font versions and upgraded
transfer risk control measures to better serve the elderly
population.
Looking ahead, Chen noted that the Shanghai Head Office of the
People's Bank of China will
continue to enhance payment convenience in collaboration with
various departments. The goal is to establish a safer, more
convenient, efficient, and inclusive payment environment in
Shanghai, contributing to the
city's development as a benchmark for payment convenience and
supporting the construction of the city's "Five Centers"
initiative.
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content:https://www.prnewswire.com/news-releases/shanghai-boosts-payment-convenience-for-elderly-foreign-residents-302200548.html
SOURCE english.shanghai.gov.cn