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China Issues Guideline to Enhance Payment Services for Seniors and Foreign Visitors

Beijing, March 08, 2024, The Europe Today: In a bid to further optimize payment services across the nation, China has released a comprehensive guideline issued by the General Office of the State Council. The guideline aims to elevate the quality, efficiency, and convenience of payment services, particularly catering to the needs of senior citizens and foreign visitors.

Emphasizing the importance of expanding the acceptance rate of bank card payments, the guideline addresses the growing demand from elderly citizens and international visitors who rely on bank cards in various scenarios. To accommodate these needs, the document advocates for the facilitation of cash usage and currency exchanges.

In alignment with the guideline, banks and payment institutions are encouraged to collaborate with clearing houses and enhance their services to better serve the convenience of seniors and overseas visitors. The directive underscores the necessity for large business districts, tourist attractions, hotels, hospitals, and other key locations to support a diverse range of payment options, including mobile payments, bank cards, and cash transactions.

Key objectives outlined in the guideline include streamlining account-opening services to simplify processes and promoting various payment services. This strategic move aligns with China’s commitment to fostering a dynamic and inclusive financial environment that caters to the diverse needs of its population and international visitors.

The guideline reflects China’s dedication to staying at the forefront of technological advancements in financial services while ensuring inclusivity and accessibility for all segments of the population. By promoting innovation and upgrading services, the country aims to create a seamless and efficient payment ecosystem that aligns with the preferences and requirements of both seniors and foreign visitors.