On March 1, China UnionPay (hereinafter referred to as "UnionPay") and Visa, a world leader in digital payments, jointly announced their cooperation to establish the "Visa - UnionPay Zone for Beijing Central Axis" (hereinafter referred to as the "Zone"), aimed at making Beijing China's top destination for inbound tourism by offering diverse payment services. The project is set to expand the scope of foreign card acceptance through such methods as upgrading the point-of-sale (POS) terminals and enhancing businesses' payment processing and service capabilities. The ultimate goal is to cater to the payment preferences of visitors from around the globe, thus ensuring them a more comfortable and happier experience in Beijing and many other parts of China.

Launching ceremony for the construction of the Zone

The Zone will provide a diverse range of payment services, such as full-scenario foreign card acceptance, multiple innovative payment options, accessible ATM cash withdrawal, and enhanced payment security measures. Key businesses in the Zone will fully support payments (swiping/tapping) with UnionPay, Visa, and other bank cards issued overseas. Additionally, the Zone will support payments via overseas UnionPay-powered e-wallets and domestic e-wallets linked to foreign cards, so as to accommodate the payment preferences of international visitors.

UnionPay, in collaboration with acquiring institutions, will promote the use of innovative payment devices which enable payments through bank cards and QR codes, to ensure comprehensive support of bank cards, QR codes, and mobile wallet solutions. It will also partner with the Bank of Beijing and China Unicom (Beijing) to launch the "TRAVEL PASS" (Changyoutong), a service package for overseas visitors, including QR code payment, portable Wi-Fi, and translation services.

Visa is planning to collaborate with the Bank of Beijing, the Industrial and Commercial Bank of China (ICBC), the Bank of Communications, Lakala, and other acquiring institutions to deploy innovative, low-cost payment terminals across the Zone. These include MIS integrated cashier devices enabling payments through both cards and QR codes. All ATMs within the Zone and its surrounding areas support cash withdrawals with foreign cards issued by UnionPay, Visa and other service providers. Besides, Visa will launch training programs targeted at the businesses in the Zone to guide overseas visitors to the designated cash withdrawal facilities based on their needs. Visa will further strengthen coordination with financial institutions and acquiring institutions to streamline POS terminal interfaces and user flow.

UnionPay will prioritize the deployment of senior-friendly payment services and barrier-free payment terminals at popular attractions and commercial areas along the Central Axis, to secure equal access to convenient digital payment solutions for seniors, people with disabilities, and foreign tourists. Additionally, UnionPay is working closely with industrial partners to continuously optimize payment acceptance environments, and expand its network coverage with a focus on small and micro-sized businesses. The BOC SplendorPlus Card, a UnionPay product tailored for inbound visitors, will be issued on a larger scale overseas. UnionPay will also strengthen the promotion of its overseas partner wallets to actively meet cross-border payment needs.

(Source: Beijing Daily)