News

Banking Technology Cards & Payments

Staff Reporter

, China

Published:

11 months ago

People's Bank of China (Photo by Max12Max via Wikimedia Commons. Apart from cropping the photo, no other edits were made).

China raises annual mobile payment limit of foreign visitors to $50,000

The single transaction limit has also been raised to $5,000.

China has raised the transaction limit for foreigners using mobile payment services within its borders to $50,000 annually.

The People’s Bank of China (PBOC) and China’s State Council have recently released guidelines to optimize payment services for international travelers, which included raising the single transaction limit to $5,000 and the annual transaction limit to $50,000 for mobile payments.

Previously, the single transaction limit was $1,000 and the annual transaction limit was set at $10,000.

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