Overview
China is the world's most cashless major economy. In Beijing, Shanghai, and Chengdu, roughly 90% of all retail transactions happen through QR code payments on two apps: Alipay and WeChat Pay. Credit cards are rarely accepted. Cash works but is increasingly inconvenient.
The good news: since 2023, both Alipay and WeChat Pay accept foreign Visa and Mastercard — meaning you can pay like a local without opening a Chinese bank account. Setting this up before your trip is the single most important thing you can do to avoid payment headaches in China.
This guide covers everything you need to know about money in China: the currency itself, how to set up mobile payments, where your credit card works, how much cash to carry, where to exchange money, and the scams to avoid.
Payment Method Quick Reference
| Payment Method | Acceptance | Tourist Recommendation |
|---|---|---|
| Alipay (linked foreign card) | Near-universal | Must have |
| WeChat Pay (linked foreign card) | Near-universal | Must have |
| Cash (CNY) | Widely accepted | Carry ¥500-1,000 backup |
| Visa/Mastercard (direct) | Hotels, airports, luxury stores only | Backup only |
| Contactless/NFC tap | Expanding but patchy | Not reliable yet |
| e-CNY (digital yuan) | Pilot cities | Optional, not essential |
Chinese Yuan (RMB) Basics
China's currency is the Renminbi (RMB), with the unit being the Yuan (¥ or CNY). Locals call it "kuai" (块). As of 2026, 1 USD equals approximately 7.2 CNY.
Currency Name and Units
- Official name: Renminbi (人民币, RMB) — meaning "People's Currency"
- Unit: Yuan (元, ¥) — the standard unit used for all pricing
- Currency code: CNY
- Colloquial name: "kuai" (块) — equivalent to saying "bucks" in English
- Subdivisions: 1 Yuan = 10 Jiao (角, called "mao" 毛) = 100 Fen (分)
In practice, Fen are almost never used. Jiao appear occasionally (bus fares, some food items), but most prices are in whole Yuan.
Exchange Rates (2026)
| Currency | Approximate Rate |
|---|---|
| 1 USD | ≈ 7.2 CNY |
| 1 EUR | ≈ 7.8 CNY |
| 1 GBP | ≈ 9.1 CNY |
| 1 SGD | ≈ 5.4 CNY |
| 1 AUD | ≈ 4.8 CNY |
| 1 MYR | ≈ 1.6 CNY |
Rates fluctuate daily. Check xe.com for the latest rate before your trip.
Banknotes and Coins
All Chinese banknotes feature Mao Zedong on the front. The quickest way to tell them apart is by color:
| Denomination | Color | Rough USD Equivalent |
|---|---|---|
| ¥100 | Red | ~$14 |
| ¥50 | Green/teal | ~$7 |
| ¥20 | Brown | ~$2.80 |
| ¥10 | Blue | ~$1.40 |
| ¥5 | Purple | ~$0.70 |
| ¥1 | Olive green (also coin) | ~$0.14 |
Tip: The ¥100 and ¥1 notes both feature Mao's portrait — always check the color and denomination number, especially when receiving change at markets.
Coins in circulation: ¥1 (nickel-plated steel), ¥0.5 (brass-colored), ¥0.1 (aluminum). You'll encounter coins mainly on buses and at vending machines.
Setting Up Mobile Payment: Alipay & WeChat Pay
Alipay and WeChat Pay are the two must-have apps for paying in China. Since 2023, both accept foreign Visa and Mastercard — no Chinese bank account needed. Set up both before your trip.
Why You Need Both Apps
Mobile QR code payment is how China works. Street food vendors, subway ticket machines, restaurant ordering systems, and even public toilet doors sometimes require a QR code scan. Many small shops have stopped keeping cash registers entirely.
You need both apps because some merchants accept only Alipay, others only WeChat Pay. Having both eliminates dead ends.
Alipay Setup (Recommended First)
Alipay is the more foreigner-friendly option. Setup takes about 10 minutes:
- Download Alipay from the App Store or Google Play (do this before arriving in China)
- Register with your international phone number
- Verify identity — upload your passport photo + take a selfie
- Add card — Go to "Me" > "Bank Cards" > link your international Visa, Mastercard, JCB, or Discover card
- Test — try a small payment before your trip if possible (Alipay works in some international stores)
Transaction limits for foreign cards: Up to ¥5,000 ($690) per single transaction, ¥50,000 ($6,900) monthly limit. More than enough for most tourist spending.
No Chinese phone number required — Alipay works with just your foreign number and passport.
WeChat Pay Setup
WeChat is China's super-app (messaging + social media + payments). Setting up WeChat Pay:
- Download WeChat from the App Store or Google Play
- Create an account with your international phone number
- Go to Me > Services > Wallet
- Add card — link your international Visa or Mastercard credit card
- Verify — complete real-name verification with your passport
Note: WeChat Pay accepts foreign credit cards — debit card support may be limited. If your debit card doesn't work, try a credit card instead.
Where Mobile Payment Works
- Restaurants (local and upscale)
- Street food vendors and market stalls
- Convenience stores (7-Eleven, FamilyMart, Lawson)
- Supermarkets
- Taxis and Didi (ride-hailing)
- Metro systems (via Alipay QR code in most cities)
- Tourist attractions and museums
- Hotels (check-in and room charges)
- Vending machines
- Pharmacies and hospitals
Limitations for Foreign Card Users
- Exchange rate markup: Apps charge a 1-3% markup over the mid-market rate. This is normal and comparable to international card fees.
- Some mini-programs don't work: Certain WeChat/Alipay services require a Chinese national ID. Standard payments always work.
- Refunds can be slow: If a refund is needed, it typically takes 5-15 business days to credit back to your foreign card.
- No person-to-person transfers: You cannot send money to Chinese friends' Alipay/WeChat wallets with a foreign card.
Planning a trip to China?
Our travel experts can help you create a personalized itinerary based on your interests and budget.
Using Credit and Debit Cards
International Visa and Mastercard are accepted at major hotels, airports, and luxury stores — but almost never at everyday restaurants, shops, or transport. Don't rely on cards alone.
Where International Cards Work
| Works | Sometimes Works | Doesn't Work |
|---|---|---|
| International hotel chains | Large department stores | Local restaurants |
| Airport shops and duty-free | Major tourist attractions | Street food |
| Luxury brand stores | Hospital reception desks | Small shops |
| Some train ticket offices | Large supermarkets | Convenience stores |
| Online bookings (Trip.com, 12306) | — | Markets and bazaars |
Contactless / Tap-to-Pay
Visa and Mastercard have been expanding contactless payment acceptance in China since 2024. Currently:
- Metro: Shanghai and Beijing metro systems accept Visa/Mastercard contactless in some stations
- Large retailers: Some chain stores have upgraded POS terminals
- Coverage is still patchy — don't rely on tap-to-pay as your primary method
UnionPay Cards
If you can get a UnionPay card in your home country (available in some Southeast Asian and Australian banks), it has near-universal acceptance in China — equivalent to Visa/Mastercard acceptance in Western countries.
Cash: How Much to Carry
Cash is legally accepted everywhere in China, but practically unnecessary for 90% of transactions. Carry ¥500-1,000 in small bills as backup for emergencies and small vendors.
Recommended Cash Strategy
- Carry ¥500-1,000 in small denominations (¥50, ¥20, ¥10 notes)
- Use cash as backup — when your phone dies, apps malfunction, or a small vendor can't process QR codes
- Get cash from ATMs, not currency exchange counters (better rates)
Where Cash Is Still Useful
- Very small street vendors in smaller cities or rural areas
- Some local buses (exact change required)
- Traditional markets where bargaining with cash can get better prices
- Emergency backup when phone battery is dead
- Older businesses that haven't fully adopted digital payment
The Legal Situation
The People's Bank of China (PBOC) requires all businesses to accept cash. In practice, most medium and large businesses will accept it. Some small shops in tech-forward cities like Shenzhen may not keep change on hand — but this is uncommon at places tourists visit.
ATMs and Currency Exchange
ATMs offer the best exchange rates for getting Chinese Yuan. Bank of China and ICBC ATMs accept international cards. Avoid airport exchange counters — their rates are the worst.
ATM Withdrawals (Best Rates)
Your best option for getting cash in China:
Best banks for international cards:
- Bank of China (中国银行) — most reliable for foreign cards, Visa/Mastercard/Cirrus/Plus logos
- ICBC (工商银行) — largest ATM network in China
- China Construction Bank (建设银行) — widely available
Fees to expect:
- Chinese bank fee: ¥12-20 per withdrawal
- Your home bank: typically $3-5 foreign ATM fee
- Currency conversion: 1-3% depending on your card issuer
Tip: Withdraw larger amounts less frequently (e.g., ¥2,000-3,000 at once) to minimize per-transaction fees. Daily withdrawal limits are typically ¥5,000-10,000 per card.
Pro tip: Cards from banks like Charles Schwab or Wise reimburse foreign ATM fees, saving you $3-8 per withdrawal.
Currency Exchange (Ranked by Rate)
| Method | Rate Quality | Convenience |
|---|---|---|
| ATM withdrawal | Best | High — 24/7 at airports and cities |
| Bank branch (Bank of China) | Very good | Medium — bring passport, business hours |
| Hotel front desk | Poor | High — but 3-5% worse rates |
| Airport exchange counter | Worst | High — 5-8% worse than mid-market |
Recommendation: Withdraw ¥500-1,000 from the airport ATM upon arrival. Use Alipay/WeChat Pay for everything else. Only use exchange counters for small emergency amounts.
Converting CNY Back
If you have leftover Yuan when leaving China, you can convert it back at the airport Bank of China counter. Keep your original exchange receipts — they may be required for re-conversion, especially for amounts over ¥5,000.
Digital Yuan (e-CNY)
China's digital yuan (e-CNY) is available in 26+ pilot cities but is not essential for tourists. Alipay and WeChat Pay already cover the same merchants.
The e-CNY is China's central bank digital currency (CBDC), issued by the People's Bank of China. It's been in an expanded pilot phase across major cities including Beijing, Shanghai, Chengdu, Guangzhou, and Shenzhen.
For Tourists
- Foreign visitors can download the e-CNY (数字人民币) app and open a limited wallet using their passport
- Accepted at the same merchants as Alipay/WeChat Pay (QR code scanning)
- Zero transaction fees — a small advantage over Alipay/WeChat's 1-3% markup
Should You Bother?
Probably not. Alipay and WeChat Pay already cover every merchant that accepts e-CNY. Unless you want to experiment with China's digital currency, the two established apps are simpler and more familiar. The e-CNY may become more relevant for tourists in the future as features expand.
Tipping in China
Don't tip. China has no tipping culture. It's not expected at restaurants, hotels, taxis, or anywhere else — and can sometimes cause confusion.
| Situation | Tip? | Notes |
|---|---|---|
| Restaurants | No | Some upscale places add 10-15% service charge |
| Taxis / Didi | No | Don't round up |
| Budget/mid-range hotels | No | Not expected |
| Luxury international hotels | Optional | ¥10-20 for porters is understood |
| Private tour guides | Appreciated | ¥50-200/day for foreign-arranged tours |
| Spa / massage | No | No standard practice |
| Street food / delivery | No | Never |
Cultural context: Tipping can be seen as patronizing in local establishments. If you leave money on a restaurant table, the staff may chase you down to return it. Respect the local custom.
For more on daily costs and budgeting, see our China Travel Budget Guide.
Common Payment Scenarios
Here's exactly how to pay in every situation you'll encounter as a tourist — from street food to train tickets to hospital visits.
Restaurants
- Local restaurants: Scan the QR code on the table to view the menu and order directly through WeChat or Alipay. Payment happens automatically through the app.
- Mid-range restaurants: WeChat Pay or Alipay at the counter. Some accept cash.
- Hotel restaurants and international chains: Visa/Mastercard usually accepted in addition to mobile payment.
- Street food: Vendor displays a printed QR code. Scan with Alipay or WeChat, enter the amount, show the confirmation screen. Takes 5 seconds.
Transportation
- Didi (ride-hailing): Link Alipay or a credit card in the Didi app. Payment is automatic after the ride.
- Metro/subway: Most cities accept Alipay QR codes at turnstiles. Transport cards (sold at stations) also work. Shanghai and Beijing metro accept Visa/Mastercard contactless in select stations.
- High-speed trains: Book on 12306.cn or Trip.com with Alipay or international card. For more on transport costs, see our budget guide.
- Regular taxis: Cash or Alipay/WeChat Pay. Always have cash backup for taxis.
- Local buses: Transport card, exact change in coins, or Alipay QR code (varies by city).
Attractions and Tickets
Most major attractions now require online pre-booking:
- Book through the attraction's official WeChat mini-program or website
- Pay via Alipay or WeChat Pay
- Present the QR code or your passport at the entrance
Important: Popular attractions like the Forbidden City, Great Wall (Mutianyu), and Terracotta Warriors can sell out days in advance. Book early — see our travel tips guide for booking strategies.
Shopping and Markets
- Department stores and malls: Alipay/WeChat Pay, sometimes Visa/Mastercard
- Markets and bazaars: Alipay/WeChat Pay or cash. Cash can be advantageous for bargaining — some vendors prefer it and may offer a small discount since they avoid QR code processing costs.
Money-Saving Tips
The right payment strategy can save you 5-10% on your entire China trip. Avoid airport exchanges, choose CNY at card terminals, and use travel-friendly bank cards.
Avoid Dynamic Currency Conversion (DCC)
When paying with a Visa/Mastercard at a POS terminal, the machine may ask: "Pay in CNY or your home currency?" Always choose CNY. Paying in your home currency triggers "dynamic currency conversion" with a 3-7% markup.
Get a Travel-Friendly Card
Before your trip, consider opening a card with low foreign transaction fees:
- Wise (TransferWise): Near mid-market exchange rates, low fees
- Charles Schwab debit card: Reimburses all foreign ATM fees worldwide
- Revolut: Competitive rates for currency conversion
Bargaining Tips for Markets
Bargaining is expected at outdoor markets, souvenir stalls, and some electronics markets. It is not done at malls, supermarkets, restaurants, or branded stores.
- Start at 30-50% of the asking price
- Work up to 50-70% through friendly negotiation
- Walk away slowly if the price is too high — vendors often call you back with a lower offer
- Offering cash instead of QR code can sometimes get 5-10% off (vendor saves on processing)
For a complete breakdown of costs in China, see our China Travel Budget Guide.
Scams and Safety
China is one of the safest countries for tourists, but a few money-related scams target foreigners at tourist hotspots. Knowing them makes them easy to avoid.
For comprehensive safety information, see our Is China Safe? guide. Here are the money-specific scams to watch for:
Counterfeit Notes
The ¥100 note is most commonly counterfeited. When receiving cash change at markets:
- Check the watermark (Mao portrait visible when held up to light)
- Feel the raised print on "中国人民银行" (People's Bank of China)
- Look for the color-shifting security thread
- ATMs and banks always dispense authentic notes — get your cash there
Tea Ceremony / Art Gallery Scam
Friendly English-speaking strangers approach you near tourist areas and invite you to a "tea ceremony" or "art exhibition." After an hour of tea-tasting, you're presented with a bill for ¥500-2,000+. Politely decline invitations from strangers near tourist hotspots.
Taxi Overcharging
Unlicensed taxis at airports and train stations quote inflated flat rates (¥300-500 for trips that cost ¥80-100 by meter). Always use the Didi app or the official taxi queue, and insist the meter is running.
QR Code Tampering
Rarely, scammers paste fake QR codes over legitimate merchant codes. Always check the merchant name that appears on your screen before confirming payment. If it doesn't match the store, cancel and alert the staff.
Double-Charging
Check your Alipay/WeChat Pay transaction history after each payment. Occasionally a vendor might "accidentally" scan your code twice. Dispute immediately if you spot a duplicate charge.
Before You Go: Payment Checklist
Use this checklist to make sure you're payment-ready for China:
- Download Alipay and link a Visa/Mastercard credit card
- Download WeChat and set up WeChat Pay with a credit card
- Test both apps with a small payment if possible
- Notify your bank that you're traveling to China (to prevent fraud blocks)
- Check your card's foreign transaction fees — consider getting a travel-friendly card
- Carry ¥500-1,000 in small bills (withdraw from ATM on arrival)
- Save your hotel address in Chinese characters — useful when taking cash-only taxis
- Install a VPN — you'll need it for Google, WhatsApp, etc. See our travel tips
- Check visa requirements — see our visa guide
About the Author
This payment guide is maintained by the Gopagoda Travel Team, drawing on extensive experience helping international travelers navigate China's unique payment ecosystem. We test all payment methods personally and update this guide regularly. If you discover inaccurate information, contact us.
Editorial Standards
Payment methods, exchange rates, and app features described in this guide are based on official platform documentation (Alipay, WeChat Pay, Bank of China), government policy announcements (PBOC), and firsthand testing by our team. Exchange rate: 1 USD ≈ 7.2 CNY. App features and transaction limits may change — check the official apps for the latest. Last verified: February 2026.
