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The authorities have already announced they might allow athletes and foreign visitors to use the financial product during the sports event. The People’s Bank of China (PBoC) has been promoting its central bank digital currency (CBDC) on numerous occasions throughout the past several months. In November 2022 the central bank announced that the number of individuals who have opened digital yuan wallets hit 140 million.

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Just this week, the digital currency research institute of PBoC released the “e-CNY (Pilot Version)” app – a mobile wallet for the Chinese CBDC – on iOS and Android stores across the country. #Wechat china ecny wechat pay mauskharpalcnbc android#

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The development enabled local users to download it and conduct pilot trials of the digital yuan and its circulation services. The initiative was first launched in the city of Shanghai, with the plan of widening the scope to other regions of China. The institute reminded that the feature is still in a research and development mode. The “e-CNY (Pilot Version)” is only accessible to accredited users via institutions that provide digital yuan services, such as major domestic banks.WeChat and WeChat Pay are part of everyday life in China.įor those who may not be aware, WeChat is a social media giant in China. Interested to learn how this can affect you on a China tour? With a billion users and counting, the next logical step for this mega platform was the introduction of cashless payments via WeChat Pay. We’ve got everything you need to know right here.

WeChat Pay is one of China’s two foremost e-payment platforms. Together these platforms are used by 90 percent of the population. Making everyday transactions super simple, WeChat Pay and Alipay have changed the way merchants sell and buyers pay for products and services in China. Now progress is a wonderful thing, but there are a few challenges around payments that many western travelers experience while visiting on a China tour. (Incredibly, even street vendors use WeChat Pay.) One big impact to be aware of through the proliferation of these platforms is that China moving closer to becoming truly cashless. This is great if you’re a local in Beijing tucking into your breakfast of Qingfeng steamed dumplings, but what if you’re a western traveler on a China tour. What’s the best way to pay, given there’s a move away from cash, and even some credit or debit cards aren’t accepted?īreathe easy because WeChat Pay can help. The owners of WeChat Pay have finally realised the opportunity and now have an option for foreign travelers. Recently WeChat pay announced visitors can add foreign credit cards to WeChat, allowing them to make mobile payments in China. Considering how much easier it is to buy just about anything in China using WeChat Pay, this is a big step forward. Ready to download the app? Let’s go! #1：WeChat and WeChat Pay for foreignersįortunately, using WeChat and WeChat pay is simple. #Wechat china ecny wechat pay mauskharpalcnbc download# #Wechat china ecny wechat pay mauskharpalcnbc download#.#Wechat china ecny wechat pay mauskharpalcnbc android#.

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