On March 7, the State Council issued the “Opinions on Further Optimizing Payment Services and Improving Payment Convenience” to guide payment service entities to continuously improve the convenience and satisfaction of payment services for the elderly, foreigners in China and other groups.

At present, many domestic e-wallets are steadily advancing the implementation of various measures under the support and guidance of the People’s Bank of China and the State Administration of Foreign Exchange to continue to optimize payment services for the elderly and foreigners in China. Among them, Alipay has completed the increase and optimization of foreign transaction limits. The single transaction limit has been raised from US$1,000 to a maximum of US$5,000, and the annual transaction limit has been increased from US$10,000 to a maximum of US$50,000. In other words, in the future, when foreigners come to Shanghai for consumption, the convenience of paying for high-priced and high-quality goods will be greatly improved, and new services such as multi-language translation and the “one-code pass” for overseas wallet travel codes will be launched one after another.

Today, mobile payment has increasingly become a bridge in cross-border business activities and cultural exchanges. Xue Yongmin, the owner of the beverage shop “Tea is a Flower” on Yongkang Road in Shanghai, said that Shanghai has recently seen a small peak of foreign tourists. Many people come to the shop to drink innovative Chinese tea. “Foreign tourists used to come with cash. For consumption, many people now know how to scan the QR code, so I let them scan the QR code directly to check out, which is very convenient.”

It is reported that the next step for domestic e-wallets will be to promote “age-appropriate” payment services and eliminate the digital divide. At the same time, it will introduce more services for foreign users, connect more card organizations and overseas e-wallets, and strive to strengthen the promotion and popularization of mobile payments.