1. First, find a POS machine that can take the VISA channel and swipe the VISA single label card;

2. When swiping a card, the merchant receives RMB (similar to when swiping a card in Korea, the Korean merchant receives Korean won);

3. After receiving the request for payment in local currency (RMB in China and Korean won), VISA will convert it into US dollars through the internal exchange rate of Visa and send the US dollar bill to the issuing bank CITIC Bank;

4. After receiving the US dollar bill, the issuing bank will use the internal exchange rate of the issuing bank to convert it into RMB, and RMB is the final bill, thus realizing the conversion from local currency to local currency;

5. There will be a time difference between ① and ② conversion, which is usually completed on the trading day, unless there is a cross-day in the middle.