China

In stores, customers typically scan or show a QR code in Alipay, WeChat Pay or the UnionPay app; Findex found 76% of adults had used a phone or card for an in-store purchase in 2024. UnionPay is the domestic card scheme: 10.22 billion bank cards were in issue at the end of 2025, 9.52 billion of them debit, and UnionPay cards are accepted at all merchant POS terminals. Acceptance of foreign-issued cards is patchier; a March 2024 State Council directive told banks and payment institutions to upgrade terminals at key hotels, shopping districts, transport hubs and tourist sites. Businesses must accept cash, and e-CNY is available in pilot areas.

The National Bureau of Statistics reported online retail sales of CNY 15.97 trillion in 2025, up 8.6%, with online sales of physical goods at CNY 13.09 trillion, 26.1% of total retail sales of consumer goods. The main platforms include Taobao and Tmall, JD.com, Pinduoduo and Douyin. Foreign brands can reach Chinese consumers through cross-border storefronts such as Tmall Global and JD Worldwide or through a local entity; either way, shoppers expect to pay in CNY with Alipay or WeChat Pay. For inbound visitors, official guidance confirms that Visa, Mastercard, JCB, Diners Club and Discover cards can be added to Alipay and Weixin Pay (American Express also to Weixin Pay), and some foreign e-wallets are accepted by merchants in China.

The People’s Bank of China licenses and supervises non-bank payment institutions under State Council regulations in force since 1 May 2024. Payment business requires PBOC approval, and an offshore non-bank institution that wants to provide cross-border payment services to users in China must set up a licensed payment institution there unless the state provides otherwise. Business systems and their backups must be located in China, and for domestic transactions, processing, fund settlement and data storage must be completed in China; cross-border payments must follow rules on cross-border payments, cross-border RMB, foreign exchange and cross-border data flows. Payment institutions must also apply anti-money-laundering, anti-fraud and anti-gambling rules, and businesses may not refuse cash.

The World Bank’s Global Findex 2025 found that 89% of adults in China had an account in 2024, up from 80% in 2017; 81% owned a debit card, 46% a credit card, and 78% had used a card or mobile phone to make a payment. The PBOC counted 15.44 billion personal bank accounts and 10.22 billion bank cards at the end of 2025. In 2024 the State Council noted that many elderly people prefer cash and ordered better card, cash and mobile-payment services for them and for foreign visitors.