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ShenzhenApril 22, 2026 /PRNewswire/ — Recently, Visa, a global leader in digital payments, in collaboration with the Industrial and Commercial Bank of China (hereinafter referred to as “ICBC”), officially launched a new “Tap-to-Pay-and-Refund” solution in Shenzhen. The first Visa card “Tap-to-Pay-and-Refund” transaction in China was successfully processed at a merchant at Shenzhen Bao’an International Airport. Through digital innovation, this solution achieves seamless integration of foreign card payments and the departure tax refund process, offering global travelers a convenient “Buy-Pay-Refund” experience. This will further enhance the convenience of inbound payments, optimize the consumption experience for international tourists, stimulate inbound tourism spending, and thereby drive the development of China’s inbound tourism market while promoting international cultural exchanges.
“Buy-Pay-Refund” Sets a New Benchmark for Seamless Tax Refunds
With the continuous optimization of visa-free policies and tax refund services, an increasing number of international travelers are shopping in China. In 2025, the number of visa-free inbound foreigners exceeded 30 million[1], and the number of outbound travelers processing departure tax refunds increased by 305% year-on-year. Tax refund merchandise sales grew by 95.9% year-on-year, and the tax refund amount rose by 95.8% year-on-year[2].
The “Tap-to-Pay-and-Refund” solution launched by Visa and ICBC supports direct refunds to Visa cards issued in 195 countries and regions, with funds arriving within as little as 30 minutes. It requires no pre-authorization guarantee from the cardholder and supports the reversal of tax refunds that do not meet eligibility criteria. This solution not only provides convenience for inbound travelers but also helps merchants and tax refund processing institutions handle departure tax refunds more easily.
- Easy Payment + Tax Refund: Cardholders can use their Visa card or a mobile Pay service linked to a Visa card to complete payment, submit a tax refund application, and process the refund to the card on an integrated POS terminal. Additionally, leveraging Visa’s OCT (Original Credit Transaction) dedicated tax refund business process, refunds can be credited back to the payment card in near real-time, significantly shortening the typical waiting period for traditional tax refunds.
- One Terminal, Efficient Processing: Merchants can handle both payment acceptance and tax refund processing on a single POS terminal in-store. The same smart POS terminal not only accepts foreign cards but also integrates functions such as digital entry, application, invoicing, and refund transaction processing for tax refunds. The entire process can be completed within 5 minutes at the store, greatly improving the efficiency of tax refund processing and reducing the need for staff to explain procedures in paper-based workflows. This enhances customer satisfaction and encourages more in-store spending.
Visa Continuously Optimizes the Inbound Payment Environment
Visa has long been committed to building a diverse digital payment environment, enabling cardholders to enjoy a convenient and secure payment experience anywhere. Over the past two years, Visa has actively optimized the inbound payment environment, consistently investing in enhancing payment convenience, driving digital payment innovation, and conducting merchant training. Visa has established payment demonstration zones in key cities, including the Visa Beijing Central Axis Barrier-Free Payment Service Tourism Demonstration Zone and the Shanghai Summer Visa-Friendly Payment Demonstration Zone. It has also launched innovative solutions such as “Tap-to-Ride,” “Scan-to-Pay,” and “Mobile POS.” Among these, Visa’s “Tap-to-Ride” has already been rolled out in cities including Beijing, Shanghai, Guangzhou, and Chengdu.
Looking ahead, Visa will continue to deepen payment innovation with partners like ICBC, expanding more cross-border payment scenarios, including tax refunds, to bring convenient and secure financial services to global travelers.
About Visa
Visa (NYSE: V) is a global leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. We believe that inclusive economies empower everyone, everywhere to be elevated and developed, and we view financial accessibility as the foundation for the future movement of money. Visit www.visa.cn for more information.