Regional lender the Shanghai Pudong Development Bank (SPD Bank) hopes to make the use of mobile payments in China more convenient for short-term foreign visitors with the launch of a new travellers’ card.
SPD Bank launched its first “travel pass” (旅行通卡) card in Shanghai on 5 November, which it has billed in English as the “E Money” card. The product will enable short-term visitors to China from Japan and South Korea to make use of digital payments during their stay.
SPD Bank developed the card in collaboration with China UnionPay, as well as under the joint guidance of the Chinese central bank and the State Administration of Foreign Exchange (SAFE).
The E Money Card is designed to cater to the small-sum consumption needs of short-term visitors to China, helping them to make payments for public transportation and meals as well as at convenience stores or supermarkets using the mobile payments systems that have become all but ubiquitous throughout the Chinese economy.
Foreign visitors to China will be able to obtain the cards either online or at designated SPD Bank outlets, and top them up using overseas bank cards, cash or cross-border remittance methods.