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Guangzhou buses allow digital yuan payment

Guangzhou authorities have made it possible for public transport passengers to pay with digital yuan (e-CNY). This is reported by local media.

A pilot project to test the asset is being run on 10 bus routes, including a tourist line. Users need to download the application and pay the fee through the wallet by scanning the QR code inside the vehicle.

Earlier, officials in Ningbo, northeast of Zhejiang province, announced the addition of e-CNY toll payment at 125 subway stations. The city became the ninth in China to launch an experiment with a digital yuan on the subway.

In the summer of 2021, a similar initiative was implemented in Beijing and Suzhou.

Chinese authorities are also testing e-CNY as part of the “red envelope” distribution. In October 2020, the first batch experiment took place in Shenzhen. In the second, local residents processed approximately 140,000 transactions worth 18.22 million yuan (~$2.8 million).

A pilot project was also carried out in the city of Suzhou, where 100,000 “red envelopes” were distributed. Beijing and Shanghai have announced their plans to support e-CNY testing.

In July 2021, authorities in Chengdu, the capital of Sichuan province, tested a digital yuan with preprogrammed use cases.

Recall that in April 2022, the former head of the People’s Bank of China, Zhou Xiaochuan, said that the digital yuan is designed for the population and merchants and will not replace SWIFT or turn currency into a weapon.

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Source: Fork Log



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