Mastercard has announced its cardholders now have the ability to link their cards to WeChat Pay, the mobile payment service offered as part of WeChat or Weixin, as it is locally called.
This improved connectivity will see overseas travellers have access to millions of local merchants and small and medium-sized enterprises (SMEs) benefit from a broader pool of international consumers.
This comes as new data from Mastercard found consumer spending was on the rise in line with increased cross-border travel, which reached 154 per cent in the second quarter of 2023 when compared to 2019 and was up by six per cent from the previous quarter.
As one of the most widely accepted payment methods in China, the WeChat Pay-Mastercard link gives international travellers access to an expanded merchant network across dining, transportation, shopping and accommodation, as well as other alternative digital payment methods including QR codes, payment codes and in-app purchases.
“Expanding 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 travellers to pay like a local when traveling around the Chinese Mainland,” a statement from Mastercard said.