👍Advancements at Ant Group, the prominent Chinese company 🇨🇳, raise transaction limits.

👍Advancements at Ant Group, the prominent Chinese company 🇨🇳, raise transaction limits.

The fintech holding Alibaba Group has raised transaction limits for mobile payments for both foreign users of Alipay and other international electronic wallets.

👉 "Ant Group" has increased the single transaction limit for international travelers using cross-border payment services, from 1000 to 5000 USD, and the annual limit of accumulated transactions - from 10,000 to 50,000 USD. Especially since during the Chinese New Year 2024 spending through Alipay's international accounts (with support from merchant cards in mainland China) increased by 500% compared to the year 2023.

👉 Immigrants and other foreigners now have the possibility to download the Alipay application enabling them to link their international cards or even use their domestic wallets to make payments thanks to Alipay+. Additionally, the application features a multilingual translation function.

👉 The increase in payment limits complies with the new policy of China, which aims to introduce a visa-free regime and thus facilitate entry/exit from the country.

👉 The increase in payment limits aligns with China's new policy objectives, aimed at implementing a visa-free regime to facilitate entry and exit from the country.

#Asia #News