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Olympics-friendly payment environment satisfying

By Du Xiaoli (chinadaily.com.cn)
Updated: 2008-08-15 17:43

The Olympics-friendly payment environment, a financial services system specifically built for the Olympics, has been satisfactory, according to a press conference held at the 2008 Beijing International Media Center on August 13.

Construction of the Olympics-friendly payment environment is an important part of the preparation for and hosting of the Olympic Games, said Ouyang Weimin, director of the Payment System Department of the People's Bank of China (PBOC), at the press conference.

To create a safe, convenient and efficient Olympics-friendly payment environment, the PBOC, relevant departments and commercial banks established a leading group to build the Olympics-friendly payment environment in March 2007. Directives were also issued to make clear the general work goal and key work.

The payment environment in Olympics-related cities has seen all-around improvement, following joint efforts from relevant sides, which also promoted the improvement of the payment environment in important tourism cities and even in the whole country.

Under the principle of solving the practical payment problems for domestic and overseas relevant institutions and individuals and satisfying their payment requirements during the Olympic Games, construction of a safe and convenient Olympics-friendly payment environment mainly includes the following five aspects.

Firstly, offering convenient account services for overseas institutions and individuals. Due to the special requirements during the Olympic Games, special services were arranged for overseas institutions and individuals involved with the Olympics for opening bank settlement accounts.

Secondly, improving the acceptance of bankcards and satisfying the payment needs of domestic or overseas card holders during the Olympic Games. Now 95 percent of merchants in Beijing's Olympics-related areas accept domestic bankcards and 90 percent of them take foreign cards.

In the other five co-host cities, more than 90 percent of merchants accept domestic cards. The ratio varied for foreign cards, 90 percent in Shanghai, 80 percent in Qingdao, 55 percent in Tianjin, 50 percent in Shenyang and 46 percent in Qinhuangdao.

Thirdly, perfecting foreign banknotes exchange services was important, as it's a basic financial service needed by overseas guests during the Olympic Games. Banks set up branches and installed ATMs throughout Olympics-related areas to offer better services.

Foreign professional currency exchange companies were also introduced in Beijing, Shanghai and Qingdao to provide specialization services.

Fourthly, guaranteeing safe and stable operation of the payment system. Now the payment system facilities of the PBOC and commercial banks are complete and perform well. Complete internal management systems and emergency mechanisms also ensure security and reliability of payment systems.

Hosting the Olympic Games offers a large development opportunity for the bankcards market, at the same time, it also provides the possibility of various risks and unknown danger occurring. A bankcards emergency plan was established to strengthen banks' ability to deal with emergencies promptly and control losses and bad influence brought by emergencies at full steam.

Fifthly, enhancing service quality and improving the financial service environment. Banks, hotels, restaurants and shopping malls, especially those near stadiums and gymnasiums for the Olympic Games, have all prolonged their business hours during the Olympic Games.

Bank branches in the Olympics-related areas set up special counters for Olympics-related financial services. Free Chinese and English service-guides are also available at hotels and airports. Consultation and complaint platforms were also established to provide customer service to domestic and overseas visitors during the Olympics.