Top payment methods in China: A guide on best ways to pay
Wondering what the most popular ways to pay are in China? Explore the top payment options and choose wisely.
China, with a population of around 1.41 billion people, has a GDP of approximately 19.23 trillion making it the 2nd largest economy in the world. The official currency of China is the Chinese Yuan (CNY)
The world's second-largest economy is driven by manufacturing, exports, and rapidly growing domestic consumption and technology sectors. It is the largest trading partner for a majority of countries worldwide and is integrated through initiatives like the Belt and Road.
| Country | China |
|---|---|
| Population | 1.41 billion |
| GDP (USD) | 19.23 trillion |
| Global Ranking | 2nd |
| Currency | Chinese Yuan (CNY) |
Spend abroad with the mid-market exchange rate - no markups, and no sneaky transaction fees.
What is the main payment method in China?
The top payment methods in China are the mobile duopoly of Alipay and WeChat Pay, followed by the state-backed card network, UnionPay. Together, these three platforms form the backbone of a nearly cashless society, handling the vast majority of consumer and business transactions across the country. The dominance of Alipay and WeChat Pay stems from their integration into "super-apps" that combine social media, e-commerce, and financial services, making QR code payments incredibly convenient for everything from shopping to peer-to-peer transfers. UnionPay maintains its relevance as the national bank card network, underpinning the traditional banking system and serving as the default for card-based and ATM transactions, while also offering its own mobile payment options.
How to pay in China
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in China.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Alipay | A super-app that is the dominant payment method in China. It is used for virtually everything, from in-store QR code payments and online shopping to paying bills and investing, deeply integrated into daily life. | Online/In-person |
| WeChat Pay | Integrated into the WeChat social media app, WeChat Pay is the second dominant payment method, used for QR code payments, P2P transfers, and a vast range of other services. | Online/In-person |
| UnionPay Cards | China UnionPay is the national card scheme. UnionPay debit and credit cards are widely issued and accepted across the country for POS payments and ATM withdrawals. | Online/In-person |
| Cash (Chinese Yuan - CNY) | While mobile payments are king, cash is still legal tender and used, particularly among older populations and in more remote areas. However, many urban businesses are now cashless. | In-person |
Is PayPal available in China?
Yes, PayPal is accepted in China.
Cover all your international travel expenses with the Wise Multi-Currency Card
Whatever you need to buy during your trip, whether it’s a travel adapter, train ticket or an extra bottle of sunscreen, the Wise Multi-Currency Card has you covered.
You can spend like a local in 150+ countries, as this clever contactless card automatically converts currency at the mid-market exchange rate whenever you spend - for just a small conversion fee.
And for extra convenience, you can add your Wise Multi-Currency Card to your Google Wallet or Apple Wallet. Then you can travel even lighter and pay using just your phone, with no need to pack the physical card.
Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.