Jing Ji Guan Cha Wang·2026-01-16 02:45Core Viewpoint - Visa has announced that Chinese cardholders can link their Visa cards to Apple Pay for use in overseas physical stores, mobile apps, or online websites, marking a significant enhancement in cross-border payment services [2][3]. Group 1: Partnership and Technical Implementation - The initial collaboration involves eight banks, including Industrial and Commercial Bank of China and Bank of China, with more banks expected to join in the future [2]. - Visa employs payment tokenization technology to ensure card number information is desensitized, enhancing security during the card linking process [2][3]. - This partnership reflects a pragmatic adjustment in the strategies of international financial institutions in the Chinese market, focusing on optimizing existing services rather than exploring new markets [3]. Group 2: Regulatory and Market Context - The collaboration showcases new characteristics in China's financial opening process, emphasizing technical openness at the service interface level rather than traditional market access [3][4]. - Visa's use of payment tokenization aligns with regulatory requirements for data localization and cross-border security transmission, demonstrating a deep understanding of the Chinese regulatory environment [3][4]. Group 3: User Experience and Industry Evolution - User adaptation to using Apple Pay for overseas payments will require time and strategic efforts, as Chinese users are more accustomed to domestic mobile payment ecosystems [4][5]. - The collaboration illustrates a new path for the evolution of financial infrastructure, where card organizations, commercial banks, and device manufacturers work together through standardized interfaces [4][5]. - This partnership is a significant attempt for Visa to deepen its service capabilities in the Chinese market, while also enhancing the application scenarios of Apple Pay and improving the competitive edge of participating banks in cross-border financial services [5]. Group 4: Future Implications - The standardization of payment service interfaces is expected to improve with ongoing technological advancements and regulatory enhancements, potentially extending collaborations beyond payment services to broader financial service scenarios [5]. - This partnership signals a key transition in China's financial opening, moving from market access to ecological integration, reflecting deeper institutional confidence and resilience in the financial system [5].