China unveils measures to optimize payment services

China has released a guideline to continue optimizing payment services in the country.

The guideline, issued by the General Office of the State Council, is aimed at providing higher-quality, more effective and more convenient payment services for senior citizens and foreign visitors.

It stresses the need to expand the acceptance rate of bank card payments to meet the demand of the elderly and foreigners who use bank cards in various scenarios.

China will facilitate the use of cash and currency exchanges, according to the guideline document. Banks and payment institutions are encouraged to work with clearing houses and upgrade their services for the convenience of seniors and overseas visitors, per the guideline.

It states that large business districts, tourist attractions, hotels, hospitals and other key locations are required to support diversified payment options, including mobile, bank card and cash payments.

It also highlights efforts to streamline account-opening services and enhance the promotion of various payment services.