China leapfrogged cards entirely. Over 90% of urban Chinese consumers use Alipay or WeChat Pay as their primary payment method, with QR codes - not cards or NFC - as the universal acceptance surface. The PBOC's e-CNY (digital yuan) is the most-deployed major-economy CBDC.
Alipay (Ant Group) and WeChat Pay (Tencent) dominate consumer payments through dynamic and static QR codes. The two account for nearly all mobile payment volume by value, integrated deeply into super-apps that span commerce, social, and financial services.
The PBOC has responded with the e-CNY, a retail CBDC now used in dozens of cities and integrated into the dominant super-apps themselves. Card networks (UnionPay and increasingly Visa/Mastercard) remain present but secondary at point of sale.
By the numbers
- 900+ millionMobile payment usersSource: People's Bank of China
- ~90% of mobile paymentsCombined Alipay + WeChat Pay shareSource: People's Bank of China
- 25+e-CNY pilot citiesSource: People's Bank of China
Dominant rails & wallets
- AlipayAnt Group super-app wallet; QR code acceptance; the dominant urban payment method.
- WeChat PayTencent super-app wallet integrated into messaging.
- UnionPayDomestic card scheme; foundational for cards and ATM access.
- e-CNYPBOC-issued retail CBDC in extended pilot.
Regulators
- People's Bank of ChinaCentral bank, e-CNY issuer, payments oversight
- State Administration of Foreign ExchangeFX and cross-border payments
Expect e-CNY rollout to widen and integrate with cross-border pilots (mBridge). Tightening regulation of the super-apps continues; foreign card acceptance is being relaxed selectively for inbound tourism.
Frequently asked
Can foreign visitors pay in China?+
Increasingly yes - Alipay and WeChat Pay both now accept foreign cards for tourist accounts, and selected merchants accept Visa/Mastercard contactless.
Sources & References
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