The launch ceremony of cross-Strait "dual-certificate linkage" financial online service platform. [Photo/WeChat account of Xiamen FTZ]
China's first cross-Strait "dual-certificate linkage" financial online service platform was officially launched at the 17th Straits Forum in Xiamen on June 14. The innovation debuted during the forum's key side event — the Straits Financial Summit: Taiwan Enterprise Development Forum.
This innovative feature eliminates identity verification barriers for Taiwan compatriots by linking their travel permit with mainland residence permit, enabling "one-click card binding and cross-border universal use". It optimizes payment experiences in the mainland, marking a new milestone in convenience.
This allows Taiwan compatriots to link bank cards to third-party payment apps regardless of whether the ID documents registered with their bank and payment app match.
As part of Xiamen Free Trade Zone's policy package, this financial innovation demonstrates the mainland's commitment to facilitating Taiwan compatriots' livelihood services and accelerating cross-Strait economic integration.
In 2024, with the support of the Xiamen FTZ, Xiamen Bank pioneered a national innovation by integrating facial recognition technology into online banking services for Taiwan compatriots, filling the gap in facial verification financial applications for Taiwan residents in the Chinese mainland.
As of May, the system has authenticated 13,211 users who collectively processed 11,532 transactions totaling 1.13 billion ($157 million) in transfer volume through facial verification transfers.