China became the first major economy to explore its own central bank digital currency in 2014, but the government has yet to provide its timetable for a nationwide launch. That support has helped the People's Bank of China (PBOC) broaden sovereign digital currency adoption ahead of other major central banks, such as the US Federal Reserve and the Bank of Japan. Ant is the fintech affiliate of Alibaba Group Holding, which owns the South China Morning Post.ĭo you have questions about the biggest topics and trends from around the world? Get the answers with SCMP Knowledge, our new platform of curated content with explainers, FAQs, analyses and infographics brought to you by our award-winning team.
Alipay, which has about 900 million users, activated the payment option last year. It also said that nearly 6 million digital yuan wallets have been "pushed" to merchants on Alipay's platform, a process that enables a new e-CNY user to initiate that payment option. By opening an account using the same phone number associated with Alipay, users can make purchases with e-CNY on the app.
#Jd.com ecny wechat pay chinachina install
China's sovereign digital currency, known as e-CNY, is on track to achieve greater exposure in more cities across the mainland, as leading domestic mobile payments providers Alipay and WeChat Pay install new features to support its wider roll-out.Īlipay, operated by financial technology giant Ant Group, announced on Thursday that its app has added a button that enables users to search for and download the official e-CNY wallet within its platform.
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