Payment is an important part of economic activities, and the convenience of payment directly affects transaction costs and transaction reliability. Nowadays, mobile payment is widely used in economic activities such as taking a car, buying tickets, and shopping, providing great convenience for public life and has become a new business card for the high-quality development of the mainland.
However, while the efficiency of payment is improving, some elderly people and foreign people still face the problem of inconvenient payment. To this end, since the second half of last year, the People's Bank of China has launched a series of measures together with relevant parties, including the solution of "large-value card swiping, small-amount code scanning, and cash pocketing", continuously deepening the construction of payment service scenarios, continuously improving the inclusiveness of payment services, and striving to improve the multi-level and diversified payment service system.
Upgraded payment experience is convenient for expatriates
On March 14 this year, the official WeChat of the People's Bank of China released the bilingual "Payment Guide for Foreign Visitors to China" in Chinese and English, which introduced in detail the acquisition methods and use processes of mobile payment, bank cards, cash and other payment services in a detailed manner with pictures and texts, which attracted the attention and welcome of many foreign friends.
Optimizing payment services is a systematic project. In order to further eliminate the payment barriers for foreign visitors to China, major banks and payment institutions have frequently taken measures to promote merchants to increase the acceptance of overseas bank cards, optimize foreign currency exchange services, and simplify the process of binding WeChat or Alipay...... Recently, China's payment services have been upgraded again, and have been praised by many foreign friends: "A mobile phone goes all over the world, and the payment in China is very 'silky'!" "A variety of payment methods make my life and work in China more convenient and efficient!"
Recently, a reporter from China City Daily noticed in the 135th China Import and Export Fair (hereinafter referred to as the Canton Fair) Pavilion that a number of inbound payment experience service desks have been set up in the exhibition area to provide comprehensive payment guidance for foreigners. Posters on the operation guidelines for various payment methods such as cash, QR code scanning, and credit card swiping were everywhere, and the number of cash exchange points also increased compared with previous years. At the checkout desk in the dining area, the service staff has prepared a large number of change and bank card swiping equipment to deal with cash and card payments.
The reporter also observed that in addition to the regular payment facilities, the number of new foreign currency exchange machines and ATMs has also increased significantly. In addition, services such as wild card cash withdrawal have also been added to the venue, which has greatly facilitated international exhibitors. In this regard, Chu Shijia, director of the China Foreign Trade Center, said in an interview with a reporter from China City Daily that the Canton Fair has comprehensively improved the payment environment in the exhibition hall, and foreigners can smoothly use the world's common payment methods for consumption in the exhibition hall.
"A few days ago, I tried to bind WeChat and Alipay with my VISA card, but I didn't expect the whole card binding process to be very fast, no passport verification was required, and it was completed in less than a minute. At the Canton Fair, Peter, a German buyer who came to China for business negotiations, shared his payment experience. Peter said that in the past, it was relatively complicated to bind mobile payment, and consumption had to rely on Chinese friends to complete the payment, but now after binding the card efficiently and quickly, he can go out to pay for consumption in China, and the display of real-time exchange rates on the payment platform has greatly enhanced the transparency of consumption.
China City Daily reporter noted that recently, the People's Bank of China, the Ministry of Commerce, and the State Administration of Foreign Exchange jointly issued the Notice on Further Optimizing Payment Services in the Commercial Field and Improving Payment Convenience, proposing to build an inclusive and diverse payment acceptance environment, optimize the cash use environment, etc., and jointly improve the level of payment services in the commercial field. This move is also in line with the requirements of the "Opinions of the General Office of the State Council on Further Optimizing Payment Services and Improving Payment Convenience" issued on March 7 this year.
Chu Shijia said that a more open, inclusive and diversified payment system and payment environment can better benefit enterprises and people, add points to the creation of a market-oriented, law-based and international first-class business environment, attract more foreigners to China for business, study and tourism and other activities, and promote mainland consumption and economic growth.
Optimize services for the elderly and enhance the convenience of the people
In the era of digital payment, the payment experience of the elderly has become the focus of social attention. The consumption scenarios of the elderly are diverse, and the payment for groceries, rides, medicines, etc., although the amount is not large, often involves paying change. For older consumers, they can choose the payment method that works best for them according to their personal habits.
Sun Wujun, a retired worker in Beijing, also learned to scan the code to pay, although he once accidentally entered the wrong amount and lost 7.5 yuan to 75 yuan, but this did not make him lose confidence in mobile payment. "'One-click payment' is very worry-free, and we, the elderly, also have to keep up with the times and enjoy the convenience brought by social development. Sun Wujun said.
During the interview, a clerk at a halal restaurant in Beijing told a reporter from China City Daily that now some elderly people have also learned to scan the code to pay, and they are becoming more and more accustomed to this way, but there are also many elderly people who still prefer to pay in cash, so the store always has enough change. "And we will try to 'break' the cash as much as possible to make it more convenient for the elderly. The clerk said.
In recent years, the mainland has attached great importance to the work of payment services for the elderly, and has introduced a series of measures to improve the payment experience of the elderly. In 2020, the People's Bank of China issued the "Opinions on Improving the Convenience of Payment Services for the Elderly", focusing on the blocking points and difficulties of payment services for the elderly, and making work arrangements around the upgrading of payment products for the elderly, the optimization of bank branch services, and the popularization of payment knowledge, so as to improve the payment service level of the elderly group.
Zhang Qingsong, deputy governor of the People's Bank of China, said at the regular policy briefing of the State Council on March 1 this year that at present, the main mobile payment apps in the mainland have been upgraded for the elderly, and the mobile payment service experience of the elderly group has been improved by simplifying the process, adding warm reminders, increasing language broadcasts, enlarging font images, and dedicated manual customer service and other measures to facilitate the elderly group to handle payment and settlement business and create warm outlets.
A few days ago, a reporter from China City Daily visited and found that in the Fuxingmen branch of the Industrial and Commercial Bank of China on Beijing's Financial Street, an ATM specially set up for the elderly can directly withdraw small amounts of cash, which greatly facilitates the elderly to buy vegetables and other small expenses in their daily lives. Aunt Li, who had just successfully experienced the ATM small cash withdrawal, sighed: "You can directly withdraw 10 yuan in cash at this ATM, so you don't have to break the whole money to buy groceries." In addition, the reporter also noted that the bank's "coin purse" exchange window has also opened a green channel for the elderly.
Expanding the "Territory" of Services and Promoting Payment "Going Overseas"
With the acceleration of globalization, Chinese financial institutions are actively connecting to overseas payment and clearing networks, and China's payment "going overseas" has achieved considerable results.
Nowadays, the logos of UnionPay, Alipay and WeChat Pay can be seen in many well-known national scenic spots, department stores, convenience stores, duty-free shops, hotels and airports. In the list of shareholders of leading mobile payment institutions in many emerging market countries, large Chinese Internet companies such as Ant Financial and Tencent are also frequently seen. At the same time, in the iterative upgrading of payment systems in more and more emerging market countries, the "Chinese solution" that has emerged is quite popular.
In terms of technology promotion, Chinese payment institutions have successfully assisted some emerging market countries to upgrade modern payment systems such as QR code payment and provide technical strategies. In addition, with the large number of new energy vehicles and other high-tech products in China, as well as the rapid development of the cross-border e-commerce industry, Chinese cross-border payment service providers are providing a comprehensive payment ecosystem for the global layout of Chinese enterprises' business, extending from the 2C end to the 2B end.
"At present, China is indeed ahead of many countries in terms of payment technology application and service experience. According to a person in charge of a cross-border payment service provider, compared with the card-based payment model that is still continued in many countries, China's widely popular code-based payment model, with the blessing of technology empowerment, not only has higher settlement efficiency, but also lower related fund transfer rates, which has greatly promoted the development of inclusive finance.
The person in charge said that behind the relevant achievements is the continuous expansion and deepening of the external payment network of Chinese payment institutions. Over the past 10 years, China has not only actively expanded its overseas acceptance network and connected many overseas consumption scenarios, but also helped payment institutions in many emerging markets build new mobile payment networks and provide solutions through equity investment and technology export.
Chu Shijia said that in the future, with the application of more innovative technologies and the continuous promotion of policies, the convenience and penetration rate of China's payment services are expected to be further improved, bringing a richer and more convenient consumption experience to consumers at home and abroad.
■China City Daily reporter Sun Xuefei