March 27, 2024
Digital Yuan App Adds Visa and Mastercard Top-Ups for Tourists.
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Digital Yuan App Adds Visa and Mastercard Top-Ups for Tourists

Tourists planning to visit the People’s Republic of China now have the convenience of pre-charging their digital yuan wallets using Visa and Mastercard payment options, as China continues to enhance the mobile app powering its central bank digital currency (CBDC) pilot.

The e-CNY app, still in its pilot phase, is accessible to iOS and China-based Google Play Store users. This application is designed for individual users, enabling them to create digital yuan wallets for utilizing e-CNY.

In the most recent iOS app update released on September 22 (version 1.1.1), international card options have been incorporated into the top-up service. According to several local Chinese news sources, this update coincides with the commencement of the Asian Games.

China has conducted extensive trials of the digital yuan as a payment method for foreign visitors to the country. As reported by Yicai, the Beijing Winter Olympics in 2022 marked the initiation of the CBDC pilot program for tourists, allowing them to conduct transactions with local merchants using e-CNY.

Inbound tourists are now able to register and create e-CNY wallets using overseas mobile numbers. Furthermore, they can take advantage of the wallet recharge feature, which now accepts Visa and Mastercard payments.

China is actively working towards ensuring that the digital yuan becomes a widely accepted payment option for all retail scenarios. This strategic effort aims to establish the digital yuan as the go-to payment method in China for transactions between retail consumers and merchants.

Photo by Pixabay

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