Mobile payment Su-Pay to be launched for visitors from Japan and South Korea

2021-05-14 16:30:00

The Suzhou area of the Jiangsu Pilot Free Trade Zone and Bank of Suzhou will soon launch Su-Pay, a mobile payment tool for short-term inbound tourists from Japan and South Korea after receiving approval.

Su-Pay will meet the needs of inbound tourists from the two countries to complete quick and small-amount purchases in Suzhou. Currently, an overseas bank card cannot be used to link with domestic online payment platforms, making it inconvenient for international tourists to enjoy the benefits of digital payment.

At the beginning of 2020, the coordination department of the Suzhou area of the Jiangsu FTZ encouraged local bank to facilitate digital payment solutions, which led to the development of Su-Pay.

The Suzhou area of the Jiangsu FTZ is home to more than 5,000 foreign-funded enterprises, including many Japanese and South Korean companies. It has also attracted more and more tourists from the two countries. This financial innovation is seen as one of the important initiatives to accelerate the construction of the China-Japan-Korea (Jiangsu) Industrial Cooperation Demonstration Park.