China Slashes Payment Barriers for Foreign Visitors

What’s new: China’s central bank is making another push to slash barriers facing foreign visitors using the country’s mobile payment services, in the latest effort to revive the tourism market.

The People’s Bank of China has guided major payment platforms including Ant Group Co. Ltd.’s Alipay and Tencent Holdings Ltd.’s Tenpay — the operator of WeChat Pay — to increase the single transaction limit for foreign users to $5,000 from $1,000, according to deputy governor Zhang Qingsong at a Friday briefing.