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Payment Methods in China: A Guide for UK Travellers
by
iFAST Global Bank
China consistently ranks among the most popular holiday destinations for UK travellers.
Whether you’re munching on delicious street food in Shanghai, going on a shopping spree in Shenzhen, taking in the scenery at the Great Wall, or soaking up the vibrant city life of Beijing, there’s something for every kind of traveller.
When it comes to making payments in China, travellers have plenty of options. While QR code payments are the most common form of payment in China, Cash and card payment options are still useful to carry around.
This guide covers the main payment methods available in China, along with practical tips to help UK travellers pay more conveniently throughout their trip.
Do You Need Cash in China?
The Renminbi (RMB), also known as Chinese Yuan (CNY) is the official currency of China. While cards and QR payments are commonly accepted around most of China, it is still advisable to carry some cash, particularly when visiting smaller shops, street food stalls, local markets or certain rural areas in China.
Smaller merchants may prefer cash or QR payments, while some may not accept international cards. It is also useful to carry smaller denominations, as vendors may not always have sufficient change for larger notes.
Need extra cash? UK travellers with the iFAST Global Bank’s Multi-Currency Debit Card can withdraw cash instantly at ATMs in China without any withdrawal fees*.
*Additional service charges may be imposed by ATM operators.
E-wallets and Mobile QR Payments in China
QR payments have become a common part of everyday transactions in China, with a range of local and international payment options available.
Popular options include:
Alipay
WeChat Pay
Don’t have these apps? iFAST Global Bank customers can use Worldwide Scan & Pay to make cross-border payments directly from the iFAST GB mobile app at Alipay+ compatible QR merchants and supported national QR networks**.
Simply scan the merchant’s Alipay QR code and confirm the payment in the app — no physical debit card or separate payment app required.
**Scan & Pay is for cross-currency payments only. Availability of QR payments may vary by country and merchant. T&Cs apply.
Payment with Debit or Credit Cards
Credit and debit cards are convenient payment options across more developed areas in China. Visa and Mastercard are widely accepted at hotels, shopping malls, restaurants, cafés and airports, although smaller local businesses may still prefer cash or QR payments.
Tip: Before travelling, compare the foreign exchange rates, overseas transaction fees and other charges that may apply across your cards. When given the option to pay in GBP, it is also worth checking the exchange rate and any applicable fees before confirming the transaction.
Travellers with iFAST Global Bank’s Multi-Currency Debit Card^ can make payments globally, with competitive real-time exchange rates and acceptance across 200 countries and territories. When spending in China, payments can be automatically converted from GBP to RMB.
^Multi-currency debit card is available for UK residents only.
Travel Effortlessly in China
A little preparation can make paying in China much easier. Consider having some Renminbi on hand, preparing your debit or credit cards for overseas use, and setting up Worldwide Scan & Pay before your trip.
Using a combination of cash, cards and QR payments gives you greater flexibility wherever you are travelling in China.
iFAST Global Bank is a member of the Financial Services Compensation Scheme (FSCS).
iFAST Global Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 716167. We are registered in England and Wales, our company number is 4797759.
Please note that the provided details serve as general information and should not be considered as financial advice or endorsements. We strongly advise customers to diligently carry out their own research and consider seeking expert guidance for tailored financial choices.
