In Hainan, China’s southern province, a pioneering initiative has been launched to facilitate financial transactions for international visitors. Commencing its trial phase, the program aims to streamline payment processes for foreigners navigating through China’s economic landscape.
Embarking on this venture, Hainan Province has extended invitations to 238,000 enterprises, encompassing prominent tourist hubs within the region. Noteworthy establishments across various sectors such as dining, lodging, tourism, and leisure have eagerly embraced this innovative endeavor.
Enrolled enterprises possess the privilege of downloading a specialized application on their Android smartphones, equipped with Near Field Communication (NFC) capabilities. This application serves as a conduit for executing transactions through globally recognized financial networks, including VISA and Mastercard. Furthermore, it accommodates transactions via Apple Pay and alternative digital wallets associated with VISA or Mastercard services.
During the festive period of Spring Festival, Hainan witnessed an influx of over 9.5 million tourists, culminating in a staggering tourism revenue surpassing 15 billion yuan (equivalent to approximately 2.11 billion U.S. dollars) over the span of eight days. These figures represent a remarkable surge of 48.8 percent and 62.7 percent respectively, compared to the corresponding statistics from the previous year.
