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China’s contactless payment system brings greater convenience to people’s lives

(People's Daily Online)    13:16, August 11, 2020

“With this luminescent QR code, I no longer have to worry about the customers finding it difficult to scan codes at night," said Yang Qing, who runs a snack bar in a food street of Hangzhou city, east China’s Zhejiang province.

A Chinese customer prepares to pay with WeChat. (Xinhua file photo)

The emergence of luminescent QR codes for payment collection, which allows people to scan the code in dark or badly-lit environments, is just one of the latest developments in China’s contactless payment system that has made people’s lives more convenient.

"Contactless payment is very convenient. By simply linking my license plate number with a payment on WeChat (a messaging and social media APP) and authorizing automatic payment without entering a password, my car can go through the gate and have fees automatically deducted," said Wu Ting, a Beijing resident, when talking about the convenience and security of contactless payment during the epidemic prevention and control period.

According to statistics, during the epidemic prevention and control period, 40 million car owners used contactless payment services featured in WeChat, and nearly 5.5 million people used contactless payment in parking lots. Furthermore, 8.1 million car owners did not have to stop at expressway toll booths thanks to the use of contactless payment.

Currently, over 50,000 parking lots support contactless payment nationwide, and 20,000 gas stations support contactless refueling.

"The rapid development of new digital payment tools allows payment behavior to break through time-space restrictions, and also changes people’s understanding of currency, transactions and payment settlement actions," said Zhang Zheyu, deputy director of the financial science and technology research office of the Bank of Communications.

"Contactless payment, mainly in the form of mobile payment, is constantly being innovated and is developing rapidly,” said Dong Ximiao, chief researcher at a Chinese financial company, adding, “While meeting people's demands for convenient and fast payment, it has also improved financing and social operation efficiency, and played a positive role in expanding household consumption and promoting economic growth." 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Liang Jun)

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