Original title: Macau residents can open mainland bank accounts in Macau Macau e-wallets will be common in mainland China Source: Tencent News
In order to further meet the cross-border payment needs of Macau residents, the People's Bank of China introduced a series of payment facilitation measures on the occasion of the 20th anniversary of the return of Macau in accordance with the People's Livelihood Payment Pioneer Approach.
In the future, it will be more convenient for Macau residents to use mobile payments in the mainland. It is reported that the central bank will promote the use of local e-wallets in Macau in the mainland. Central bank supports MacauBank of ChinaUsers of the mobile banking app and Macau Pass Mpay wallet scan codes offline at Bank of China mainland merchants, making it easy for Macau residents who come to work, travel and live in the mainland to enjoy small and convenient mobile payment services.
On December 19, Bank of China Joint Networked Clearing Co., Ltd., UnionPay International Limited, and Macau Express Co., Ltd. released a cross-border mobile payment service “Cross-border Wallet” for Macau residents. Macau residents can directly use the “Bank of China Macau Mobile Banking” app and the “mPay Macau Wallet” app without opening a mainland account to spend in the mainland.
Additionally, Macau residents can open mainland bank accounts in Macau. The central bank will organize and launch a pilot project to witness account opening in Macau. Macau residents can easily open Mainland personal Class II and Class III bank accounts through proxy witness at the Macau Pilot Bank, further facilitating Macao residents to handle mainland bank payment services.
A relevant central bank official said that in the next step, the People's Bank of China will maintain close communication and cooperation with the Macau Monetary Authority to guide the smooth implementation of payment business policies benefiting Macao and support the construction of an integrated living circle in the Guangdong-Hong Kong-Macao Greater Bay Area.