After the approval of the Inner Mongolia Free Trade Pilot Zone, the Erenhot Area focused on the payment needs of Mongolian merchants and tourists in China, deepened China-Mongolia cross-border mobile payment cooperation, promoted the “foreign card binding” and “outsourcing internal use” models, and created a national leading cross-border payment service model at border ports through cross-border settlement “through trains”.
In the past, when Mongolian merchants came to Erenhot to buy things, they had to queue up to exchange money.
Now, with the interconnection of cross-border mobile payments between China and Mongolia, they can “scan the code with one hand and get the goods with the other hand.”
“Alipay arrived, 22 yuan.” “Boss, did the money arrive just now?” “It arrived.” The Biligong family from Mongolia are regular visitors to Erenhot.
Every once in a while, he will take his wife and children to China for cross-border shopping.
What gave him a headache before was not carrying large and small bags, but having to carry a large amount of cash with him.
“We used to collect cash when we came here. We were afraid of losing it, afraid of miscounting, and afraid of receiving fake money. We also had to go to the bank to change money, and we had to queue up, which was very inconvenient.” Aorigele, a merchant who travels between China and Mongolia all year round, also has the same experience.
“In the past, we used cash for transactions, and then we took the cash from Mongolia and converted it into RMB in Zamyn-Uud, and then took it with us (carrying cash with us). Chinese customs is also limited and will not let you exceed the limit (exceeding the prescribed amount). It was very inconvenient at that time.”
With the implementation of the “external card binding” and “outsourcing internal use” models in Erenhot, the barriers between overseas bank cards and domestic mobile payment platforms have been broken.
To put it simply, Mongolian tourists can use their own bank cards and directly bind them to my country’s Alipay and WeChat, or directly use Mongolia’s mainstream Hipay wallet to scan the QR code to pay within my country.
“WeChat now has Alipay and Hipay, and banks have cooperated. It is very convenient (to pay). Just scan (the money) and it will be transferred directly.”
“Mobile payment is very good and convenient.
(Customers) can also (pay) via WeChat, Alipay (pay), and POS machines (pay), and our income has increased.”
On May 9, Erenhot Port successfully completed Mongolia’s SocialPay.
The APP’s first domestic QR code payment business test. Mongolian merchants do not need to exchange currency or bind new domestic accounts. They can rely on common APPs in the country to complete QR code payment in all scenarios such as shopping, dining, and accommodation, realizing “local APP, cross-border scanning, and frictionless payment.”
The successful implementation of this business marks that Erenhot Port has added an important new cross-border payment channel in addition to the mature model of “foreign card binding” and “outsourcing and internal use”, filling the shortcomings of cross-border small-amount livelihood payment services between China and Mongolia, and continuing to promote the port’s cross-border financial services to achieve diversified supply, facilitated implementation, and scenario-based coverage.
At present, Erenhot City has achieved full payment coverage in eight major consumer areas, including large business districts, tourist attractions, hotels, public transportation, and hospitals.
In addition, departure tax refund points have been set up at airports and highway ports to build a one-stop full-process closed-loop payment service of “entry customs clearance-domestic consumption-convenient payment-departure tax refund”.
At the same time, focusing on the core consumption areas at the port, 6 “payment service demonstration” areas have been built in areas with dense overseas personnel such as commercial streets and border trade zones.
