Beijing authorities have fully integrated the digital yuan into the payment ecosystem
The Chinese capital's municipal government has fully integrated the digital yuan into the payment ecosystem as part of improving CBDC testing.
At the start of the test in June, the feature was only in the Yitongxing mobile app. It has now appeared at all 428 stations on 24 subway lines when buying tickets and recharging transport cards.
Beijing authorities have fully integrated the digital yuan into the payment ecosystem
In terminals, the option to pay in digital yuan has become adjacent to cash and payment systems WeChat Pay and AliPay. The same option is also available at service points.
In order to refill a CBDC transport card you will need to scan the QR code of payment with digital wallets.
Recall that the option to convert yuan into its digital version has been added to ICBC ATMs in Beijing.
Earlier, China tested CBDC with programmed use options.
FX24
Author’s Posts
-
MetaTrader 5 — The Ultimate Choice for Modern Traders
How MetaTrader 5 Enhances User Experience for Traders
...May 03, 2024
-
Solana Surges by 11% - Now the Fifth Largest Cryptocurrency
Solana Surges by 11%
...May 03, 2024
-
The Role of Intuition in Forex Trading
Understanding Its Mechanics and Impact
...May 03, 2024
-
Linked Orders in Cryptotrading: Curtailing Losses and Harvesting Profit
Unraveling the Concept of Linked Order in Cryptotrading: How it Limits Loss and Generates Profit
...May 03, 2024
-
Mastering the Art of Long-Term Investments: A Roadmap to Building Wealth Over Time
The Fundamental Principles of Long-Term Investments: A Guide to Building Wealth Over Time
...May 03, 2024
Report
My comments