“The ‘Pocket Money Wallet’ is very convenient, saving me a lot of time in currency exchange. Your enthusiastic service makes me feel the warmth of China, like a home away from home!” exclaimed Captain Kassa from Ethiopia, delighted with his experience using Industrial Bank’s “Pocket Money Wallet” service.
Captain Kassa, who frequently travels to China due to his flight schedule, used to exchange various denominations of Chinese Renminbi for each visit. The IB Zhengzhou branch’s “Pocket Money Wallet,” equipped with multi-denomination cash options, has made his transactions, whether sampling Chinese cuisine or visiting attractions, much more convenient.
On March 7th, the General Office of the State Council issued the Opinions on Further Optimizing Payment Services to Enhance Payment Convenience (hereinafter referred to as “the Opinions”). The document mandates a coordinated effort to eliminate bottlenecks in payment services, aiming to refine a multi-level, diversified payment service system, thereby offering more quality, efficient, and convenient payment services for the elderly, foreign nationals visiting China, and other groups. Following the release of “the Opinions,” Industrial Bank promptly convened a bank-wide meeting to strategize on optimizing payment services, established a dedicated task force, and expedited the implementation of various convenience-oriented payment initiatives to tangible outcomes.
Improving the acceptance environment for bank cards is crucial to ensuring convenient payment services. In response to the diverse payment needs of the elderly and foreign nationals visiting China, IB has focused on enhancing the payment acceptance environment in key commercial areas, tourist attractions, cultural and museum venues, hotels, and major transportation hubs. The Bank has prioritized the “clothing, food, accommodation, travel, tourism, shopping, entertainment, and healthcare” sectors, promoting major merchants to accept bank cards, mobile payments, and cash, thus safeguarding consumers’ right to choose their payment methods. Specifically for foreign nationals who prefer using bank cards or cash, IB has concentrated on optimizing the acceptance environment for international bank cards in key areas such as cultural tourism sites and major shopping districts. In collaboration with partner institutions, the Bank has facilitated equipment upgrades at key merchants to ease the use of international bank cards. Presently, IB has initiated merchant upgrades for international bank card acceptance in key tourist areas within Fujian, such as the Sanfang Qixiang area in Fuzhou, Meizhou Island in Putian, and Wuyi Mountain in Nanping, significantly enhancing the payment convenience for international visitors.
Moreover, IB has introduced a series of measures to create a mobile payment environment that accommodates both the elderly and international visitors. For foreign nationals, addressing the challenges of linking international bank cards with Alipay and Tenpay, IB has released specialized instructional materials and guided branch staff to assist foreigners in binding their overseas cards for domestic use. For the elderly demographic, the Bank’s mobile banking “Elderly Bliss” version offers large font services, voice recognition input assistance, and voice broadcasting services, continually enhancing mechanisms to protect the rights and interests of elderly customers. Addressing common inquiries related to debit card mobile payment transactions and limit management, IB has developed service guides published online, aiding cardholders in better utilizing mobile payment services.
To address the “bottlenecks” in account opening services for individuals coming to China, IB has streamlined the account opening process and implemented a tiered account management system, continuously enhancing the level of account services. Currently, IB outlets nationwide can provide personal settlement account opening services for overseas individuals holding foreign passports or foreign permanent resident ID cards. Additionally, IB offers a range of services including online appointment booking and door-to-door account opening. The customer service hotline 95561 provides English-speaking operators to further improve the service experience for overseas individuals.
In the digital era, the use of cash, especially small change, has significantly decreased, creating inconveniences for specific groups in their daily transactions. IB maintains a “cash safety net” policy, with its mobile and online banking services offering large-denomination RMB cash and change reservation services. Over 1200 comprehensive branches and 4,472 ATM machines across the country provide basic cash deposit and withdrawal services. The ATMs feature bilingual interfaces and support withdrawals in RMB for foreign nationals using UnionPay, Visa, and Mastercard-issued international bank cards. Moreover, 1,117 comprehensive branches offer foreign currency exchange services, with 5 foreign currency exchange points located in star-rated hotels and high-speed train stations. In key cities like Guangzhou and Fuzhou, selected ATMs also provide small-denomination RMB cash services to meet the public’s demand for smaller bills.
IB has proactively offered standardized and customized “Pocket Money Wallet” services to nearby merchants, particularly those involved in foreign, elderly, and key livelihood-related businesses, addressing the challenge of providing change at the source. To date, IB’s “Pocket Money Wallet” service has distributed over 21,000 units, amounting to more than RMB 13 million.
Furthermore, the Bank’s comprehensive branches maintain a constant “small and damaged RMB exchange” function in their lobby queuing systems and have established green channels at cash counters for elderly customers to prioritize their transactions. The “Large Font Version” area in ATMs has been updated to include deposit and withdrawal functions, ensuring that elderly customers can “see, hear, and operate” the machines easily, thereby continuously enhancing the service experience for the elderly.