Tencent tests payment service for overseas credit cardholders

Tencent is exploring collaboration opportunities with Visa, Mastercard, American Express, Discover Global Network and JCB to offer mobile payment service to international credit card users by allowing them to bind their cards issued overseas with WeChat Pay.

Although international consumers are already allowed to bind their credit cards issued in the Chinese mainland with WeChat Pay, it is still quite inconvenient for them to make mobile payments both online and offline during their visit to the mainland since many of them use credit cards issued overseas.

Under the guidance of the People's Bank of China, the country's central bank, Tencent will launch a pilot program to steadily open up more scenarios of consumption to international credit cardholders, such as supporting them to use credit cards issued overseas to buy train tickets on 12306.cn and pay for Didi Chuxing, a Chinese ride-hailing service provider.

"This is a great step forward, both for consumers traveling to China and the overall payments industry," said Shirley Yu, president of Visa Greater China, in a written note.

"In a truly global commerce environment, collaboration is essential to provide consumers with a seamless payments experience. Visa is excited to work with Tencent, one of China's leading fintech companies, on a secure, convenient and interoperable mobile payment experience that will benefit the large number of international travelers visiting China. This partnership means that we'll be working towards an environment where Visa cardholders will be able to use their Visa card in China at the millions of places where WeChat Pay is accepted, instead of having to rely on cash," she said.