Caixin Exclusive: China Seeks Cut in Foreign Card Transaction Fees to Encourage Usage
The country’s payment and clearing association talks with international bank card issuers and payment processors to lower charges to ease burden on merchants and boost spending
Since last year, the Chinese government has been pushing to make payment methods more convenient for foreigners, including increasing the acceptance of foreign bank cards. Photo: VCG
China is calling on global bank card clearing institutions to cut their fees on transactions made on the Chinese mainland using overseas cards, in an attempt to remove a major obstacle to the government’s intensifying efforts to make it easier for foreigners to make payments.
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