Visitors to China can now access the country’s massive cashless economy.
Alibaba and Tencent dominate cashless payments in China with their Alipay and WeChat Pay platforms. With more than a billion users, the digital payment systems have largely replaced plastic cards and cash at registers, changed how friends and families give gifts to one another and even changed how panhandlers ask for money.
Nearly 31 million foreigners traveled to China in 2018 and they spent $73 billion while they were touring the country, according to government statistics. The number of visitors and how much they spent both rose by about 5% compared to a year earlier.