Core Insights - The People's Bank of China has made significant progress in cross-border QR code payment interoperability, with the unified gateway launched for trial operation at the end of July [1][2] - The unified gateway aims to enhance cross-border payment efficiency and meet the mobile payment needs of domestic and foreign users [1][3] Group 1: Unified Gateway Functionality - The unified gateway provides a unified technical interface, cross-border transaction information transfer, monitoring, and analysis services, facilitating efficient and secure cross-border QR code payment services [2][3] - It aims to reduce the system integration costs for institutions and promote a unified standard for cooperation with overseas wallet providers, enhancing the user experience [3][4] Group 2: Current Status and Future Plans - As of September 11, the unified gateway processed 1.981 million transactions amounting to 427 million yuan, with plans to expand the number of participating institutions and the scope of cross-border payment interoperability [4][5] - The construction of the unified gateway began in early 2025, with a focus on supporting "external use within" services [5][6] Group 3: Industry Participation - Tencent announced its participation in the unified gateway to enhance WeChat Pay's "external use within" services, while Ant Group's Alipay became one of the first institutions to pilot the unified gateway [6][7] - The unified gateway is seen as a crucial step in facilitating cross-border payment interoperability, allowing users to utilize familiar domestic e-wallets for payments abroad [7][8] Group 4: User Experience and Security - The unified gateway acts as a "translator" and "dispatcher," enabling interoperability between different QR code payment systems across countries, thus improving user experience [7][8] - It adheres to international standards for security, requiring participating institutions to comply with KYC and anti-money laundering regulations, ensuring the legality and safety of cross-border transactions [8][9] Group 5: System Security - The unified gateway employs a multi-center deployment strategy, ensuring high concurrency, controllability, and automatic recovery from application failures [9] - It has established a comprehensive emergency response plan with participating institutions to ensure system security and business continuity in extreme situations [9]

Core Viewpoint - The establishment of a unified cross-border QR code payment gateway is essential for the standardized development of cross-border payments, driven by the increasing share of QR code payments in this sector [1][2]. Group 1: Background and Development - The cross-border QR code unified gateway is built under the guidance of the People's Bank of China, facilitating "one-point connection" for domestic and foreign institutions to collaborate on cross-border QR code payments [2]. - China holds over 70% of the global QR code payment market share, making it the largest market for QR code applications [2]. - The current two-to-two connection model among domestic clearing and payment institutions has led to issues such as inconsistent standards and poor compatibility, which the unified gateway aims to address [2]. Group 2: Features and Benefits - The unified gateway provides a public, inclusive, and accessible platform for institutions, offering unified technical interfaces, transaction information transfer, and monitoring services [3]. - Key values of the unified interface include reducing system integration costs, promoting standardization for foreign wallet cooperation, expanding acceptance environments for foreign wallets, and establishing a unified information interface for cross-border payment management [3][6]. - As of September 11, the unified gateway has processed 198.1 million transactions amounting to 427 million yuan [3]. Group 3: Implementation and Use Cases - The unified gateway officially launched on July 30, 2023, initially supporting "external wallet use within China" [4]. - Various domestic and foreign institutions, including China UnionPay and Alipay, have already connected to the unified gateway [4][5]. - The gateway supports four transaction scenarios, including both "external wallet use within China" and "internal wallet use outside China," enhancing payment convenience and interoperability [6]. Group 4: Long-term Implications - The unified gateway represents a significant innovation in financial infrastructure, promoting cross-border payment connectivity and potentially enhancing RMB cross-border settlement [6].

Core Viewpoint - The introduction of a unified cross-border QR code payment gateway in China aims to enhance the payment experience for international travelers by addressing compatibility issues and streamlining payment processes [1][4]. Group 1: Unified Gateway Overview - The unified gateway is a cross-border payment infrastructure developed under the guidance of the People's Bank of China, allowing domestic and foreign institutions to connect through a single interface for QR code payment cooperation [2][5]. - Since its trial launch at the end of July, the unified gateway has attracted numerous foreign wallets, with Ant Group and Tencent leading the initial pilot [2][3]. Group 2: Participation and Integration - Ant Group's Alipay now supports seven major international card brands and 31 electronic wallets from 12 countries and regions, with recent additions from Indonesia, Uzbekistan, and Thailand [2][3]. - Tencent's WeChat wallet and several other international wallets, including PayPal and various Southeast Asian wallets, are set to integrate with the unified gateway [2][3]. Group 3: Operational Impact - As of September 11, the unified gateway has processed 1.981 million transactions, amounting to 427 million yuan [3]. - The unified gateway aims to resolve previous issues of fragmented payment systems and enhance the interoperability of payment platforms, thereby simplifying cross-border transactions [4][5]. Group 4: Future Prospects - The unified gateway is expected to facilitate tourism, commerce, and cultural exchanges by creating a seamless payment experience for foreign visitors in China [6]. - The gateway will continue to expand its network of participating institutions and enhance cross-border payment capabilities [7].

Core Insights - The launch of the cross-border QR code unified gateway marks a significant step in China's payment industry towards building an open and interconnected ecosystem [1][2] - The unified gateway aims to facilitate cross-border QR code payment cooperation between domestic and foreign institutions through a single point of connection, addressing issues like multiple connections and resource wastage [3][8] Group 1: Unified Gateway Overview - The unified gateway supports cross-border QR code payment cooperation, reducing system connection costs and resource wastage [3] - It promotes the establishment of unified cooperation standards for foreign wallet institutions, enhancing efficiency and user experience [3] - The gateway coordinates the acceptance environment for domestic institutions, expanding the acceptance of foreign wallets in China [3] Group 2: Market Participation and Growth - As of September 11, the unified gateway processed 198.1 million transactions amounting to 427 million RMB [1] - Major payment institutions like Ant Group and WeChat Pay are integrating more foreign wallets through the unified gateway, enhancing seamless payment experiences for international travelers in China [5][6] - The cross-border payment business is expected to grow significantly, with a projected transaction scale of 162.64 billion RMB in 2024, reflecting a year-on-year increase of 30.4% [6] Group 3: Industry Collaboration and Development - The unified gateway is seen as a "translator" and "dispatcher" that facilitates interoperability between different countries' QR code payment systems [3][8] - The payment industry is moving towards a more open and collaborative ecosystem, breaking down barriers between different payment networks [7] - The establishment of a "new four-party model" is being promoted to reshape the interconnected landscape of the payment industry [7]

有业内人士预计，跨境二维码统一网关支持下的若干新合作将很快落地。合作将帮助更多海外商旅人 士"一个钱包游遍中国"，繁荣旅游经济，促进经济和文化交流。 9月17日，继人民银行副行长陆磊首次透露跨境二维码统一网关（以下简称"统一网关"）进展，微信支 付、支付宝等多家支付机构官宣，已接入跨境二维码统一网关，并将进一步支持更多的境外钱包在华使 用，以提高外籍来华人员在境内支付的便利度。 据了解，统一网关作为跨境支付基础设施，坚持公共性、包容性、普惠性原则，支持符合条件的市场机 构，接入开展跨境二维码支付业务。统一网关已于7月底上线试运行，有效解决了"外包内用"多头连接 等技术问题。人民银行数据显示，截至9月11日，统一网关办理的业务达到了198.1万笔，金额4.27亿 元。 腾讯宣布，将通过统一网关进一步开放微信支付"外包内用"服务，支持更多境外钱包在中国境内通过微 信支付二维码支付。支付宝则指出，蚂蚁集团"外包内用"业务随统一网关成功上线试运行，未来将继续 加大投入。 据介绍，蚂蚁国际旗下全球整合钱包网关服务Alipay+持续拓展全球合作生态。截至目前，已与亚太地 区为主的全球36个电子钱包和8个国家级二维码网络达 ...

陆磊表示，跨境二维码统一网关上线试运行后，可支持符合条件的市场机构接入开展跨境二维码支付业 务。未来央行将指导产业各方继续推进跨境支付互联互通，巩固和畅通中国连通全球的资金网络和渠 道，推动构建更加开放高效的支付服务。 中国社科院金融所支付清算研究中心主任杨涛：统一网关，一方面使得未来要开展跨境的二维码支付的 各类机构，各种的业务模式减少对接成本。另一方面使得业务对接进一步标准化，来提高未来给老百 姓、给相关的一些钱包持有人，提供服务的能力。 [ 责编：袁晴 ] 昨天，第十四届中国支付清算论坛在北京召开，论坛上，中国人民银行相关负责人宣布，跨境二维码统 一网关已于7月底上线试运行，未来央行将推动构建更加开放高效的境内二维码支付网络。 ...

Core Viewpoint - The speech by Lu Lei, Deputy Governor of the People's Bank of China, emphasizes the significant progress in the payment industry, highlighting the need for high-quality development through payment interconnectivity and technological innovation [1] Group 1: Industry Development - The payment services have significantly improved in quality and efficiency, supporting the real economy [1] - Continuous efforts from various industry stakeholders have led to deeper governance and robust financial infrastructure [1] - The construction of a modern payment system has achieved new results, with high-level openness being continuously promoted [1] Group 2: Cross-Border Payment Initiatives - The interconnectivity of payment systems between mainland China and Hong Kong was achieved in June, followed by the trial operation of a unified cross-border QR code gateway in July [1] - The unified gateway adheres to principles of publicness, inclusiveness, and accessibility, allowing qualified market entities to engage in cross-border QR code payment services [1] - The People's Bank of China will guide industry stakeholders to further promote cross-border payment interconnectivity, enhancing global financial networks [1] Group 3: Technological Innovation - The payment industry is urged to accelerate technological innovation to enhance digital payment levels and maintain a leading edge [1] - A balance between security and development is emphasized, with a focus on maintaining safety standards while promoting innovation [1] - Industry stakeholders are encouraged to innovate within compliance frameworks, ensuring that development outcomes reinforce safety foundations [1]

Core Viewpoint - The launch of the Cross-Border QR Code Unified Gateway aims to enhance cross-border payment efficiency and standardization, addressing existing issues in the payment infrastructure [1][4][5]. Group 1: Unified Gateway Overview - The Unified Gateway is a cross-border payment infrastructure developed under the guidance of the People's Bank of China, allowing domestic and foreign institutions to collaborate through a single interface [1][4]. - Prior to the Unified Gateway, cross-border payments faced challenges such as inconsistent standards and inefficient "pairwise connections" between institutions, which hindered the overall effectiveness of China's payment industry [1][4]. - Since its trial operation began in late July, the Unified Gateway has processed 1.981 million transactions amounting to 427 million yuan by September 11 [1]. Group 2: Benefits and Changes - The Unified Gateway supports real-time processing of transaction information, significantly improving the efficiency and user experience of cross-border payments [2][7]. - It reduces the system connection costs for institutions and minimizes resource waste from multiple system upgrades [4][6]. - The establishment of a unified standard for foreign wallet institutions enhances the efficiency of wallet integration and promotes fair competition in the cross-border payment market [4][6]. Group 3: Participation and Expansion - Institutions eligible to connect to the Unified Gateway include wallet institutions, acquiring institutions, and financial infrastructures, which must meet specific criteria to participate [6]. - The Unified Gateway has already partnered with several domestic and international institutions, including China UnionPay and various wallet providers across Southeast Asia [6]. - Future plans include expanding the range of participating institutions and enhancing cross-border payment connectivity [6]. Group 4: User Experience and Security - The Unified Gateway allows for various transaction types, including both "merchant scanning" and "user scanning" modes, ensuring a seamless user experience [7]. - The system is designed to be secure, adhering to international standards for risk prevention and operational safety, including compliance with KYC and anti-money laundering regulations [8]. - It features a multi-center deployment strategy to ensure high availability and resilience against system failures [8].

Group 1 - The core viewpoint highlights the significant increase in cross-border travel and tourism activity in Shanghai and the border areas, driven by the summer travel season and the implementation of convenient payment systems [1][3][5] - Since July 1, the daily average number of inbound and outbound travelers at Shanghai port reached 129,000, a year-on-year increase of over 14%, with a peak of 157,000 on August 9, marking the highest single-day record for the year [1][3] - The domestic and international tourism market is experiencing a surge, with family trips and educational tours contributing to the increased passenger flow, as evidenced by over 1.58 million outbound travelers checked at Shanghai airports by August 10, accounting for 67.7% of total outbound travelers [3] Group 2 - The implementation of the cross-border payment interconnectivity between China and Vietnam has facilitated a significant rise in tourist traffic at the Hekou port, with a total of 996,000 inbound and outbound travelers recorded, representing an 8.2% year-on-year increase [4][7] - The introduction of digital payment solutions has eliminated barriers for cross-border transactions, enhancing the consumption of cultural and tourism services [5][7] - To accommodate the growing number of travelers, the Hekou border inspection station has introduced various facilitation measures, including a self-service entry card filling system and online pre-declaration channels for cross-border tour groups [7]

Core Insights - Malaysia is a key node in the Belt and Road Initiative, with China being its largest trading partner for 16 consecutive years, highlighting the strong economic ties between the two countries [1] - The collaboration in the digital economy between China and Malaysia is increasingly being realized, particularly through the cross-border payment connectivity facilitated by the Network Clearing Company [1] - The cross-border payment model innovated by the Network Clearing Company enhances the efficiency and quality of cross-border retail payment cooperation between the two nations [1] Group 1 - In 2024, Malaysia's transaction volume in China through the Network Clearing platform reached over 14.75 million transactions, amounting to nearly 2.8 billion yuan, with both figures increasing by over three times year-on-year [2] - Major cities such as Shanghai, Beijing, and Guangzhou have become popular destinations for Malaysian visitors, reflecting the growing trend of cross-border transactions [2] - The Network Clearing Company has significantly improved payment convenience for foreign visitors, serving over 212 million people and facilitating transactions exceeding 30 billion yuan in 2024, marking increases of 2.8 times and 3.4 times respectively [2] Group 2 - Moving forward, the Network Clearing Company aims to leverage market demand to drive business innovation and enhance service quality in cross-border payments [3] - The company plans to expand its acceptance environment and diversify online and offline payment scenarios to provide safer and more efficient services [3] - The goal is to ensure that the benefits of cross-border payment cooperation reach a broader audience globally, contributing to the sustainable development of cross-border payment connectivity [3]