In the first half of 2024, Shenzhen recorded 66.8 million noncash payment transactions by foreigners, amounting to 8.7 billion yuan (US$1.2 billion). This represents an 85% year-on-year increase, according to data from the People’s Bank of China Shenzhen Branch, as reported by Shenzhen Special Zone Daily.
Shenzhen has enhanced the payment experience for foreigners, facilitating activities such as ordering takeout and using public transport. This improvement is due to the city’s innovative initiatives, including trials for agent-assisted account openings, direct use of overseas bank cards in mobile payments, and the introduction of digital currency hardware wallets.
“In China, WeChat Pay is so convenient that you don’t have to carry cash with you on a daily basis,” said Diego, an Italian restaurant owner in Shekou, Nanshan District. Following Tencent’s launch of a simplified card binding solution on WeChat Pay this year, Diego provided a card binding guide at his restaurant’s checkout counter to assist international travelers in linking their foreign bank cards with WeChat Pay.
Park, a frequent business traveler from South Korea, praised the convenience and security of using overseas UnionPay cards in Shenzhen for various transactions.
Shenzhen, a vital entry point for international visitors and travelers from Hong Kong and Macao, saw 1.13 billion entries and exits in the first six months of 2024—a 79% increase year-on-year, making up 39% of the national total.
The city focuses on enhancing services for travelers at key transportation hubs like airports and high-speed rail stations. Shenzhen has established two dedicated overseas visitor payment service centers and five convenient financial service points that integrate payments with cultural tourism, telecommunications, and transportation, offering round-the-clock services to international visitors.
Shenzhen airport has set up consultation service desks with payment guides for foreign visitors and brochures for the airport’s commercial areas. The airport features six foreign currency exchange points, eight new ATMs, and three digital currency hardware wallet terminal devices. Foreign bank card acceptance is comprehensive, with digital yuan coverage exceeding 80%.
Foreign visitors typically engage in small-scale transactions, averaging around 100 yuan, particularly in online lifestyle services, shopping, dining, and tourism. Since last year, China has piloted network-free SIM card hardware wallets to facilitate international travelers’ payments. The SIM card hardware wallet on the e-CNY app allows digital RMB payments using a mobile phone’s NFC function.
To date, Shenzhen has installed 23 self-service issuance machines for digital currency hardware wallets, issuing nearly 30,000 hardware wallets. Over 36,000 terminal devices and more than 100 bus routes now support these hardware wallets.