![]() Now both WeChat and Alipay have reached cooperation with few international credit card providers including Visa, Mastercard, Discover Global Network (Diners Club), American Express, and JCB. How to Set Up WeChat Pay with Credit Card? #Wechat pay chinachina morningpost how to It’s nothing different from eating at a restaurant.īut no worry, you open the mobile and switch from eleme and Meituan ( Those 2 are food delivery APP eleme was wholly owned by Alibaba now.) to order lunch. The food is well packed and delivered to you in 30 minutes after you pay the bill via WeChat. You could have a brief nap as of time saved from not having lunch outside. You invite 2 friends for dinner in a nice restaurant. 3 of you order the dishes from a mobile menu after scanning the codes at the corner of the table. The bill again paid by scanning the code from Alipay or WeChat, no counter there anymore. You go there and wish to buy some daily used items there. After half an hour of shopping around, you want to leave now. You can either wait in the line or choose to pay the bill by scanning the products in front of a machine. No more payment codes, the machine scan your face and bill is paid after your confirmation with one easy click.īack home, you almost forget that today is the birthday of one of your best friends from another city. There is no way to meet her or send her a present now. You have a video call with her and send her a red pocket from WeChat…. The story of mobile payment is not ending yet. You can pay train tickets, air tickets, hotel costs, taxi, Uber/Didi and so on all by WeChat or Alipay. Meanwhile, if you wish to buy from Taobao, Tmall, JD.com, etc. #Wechat pay chinachina morningpost code.#Wechat pay chinachina morningpost how to.Like cryptocurrency, the digital yuan is based on Binance smart Chain, blockchain technology, and third-party authority regulation and compliance standards. Still, the cryptocurrency market is banned, and mining that doesn’t allow capital fright could be considered a beneficial business activity. It would also allow China to monitor transactions inhabiting political and privacy challenges.ĭigital yuan would boost up the crypto and lower the coin base. Payment services already existing in the market, such as AliPay, WeChat Pay, and PayPal, makeup 93% of online payment wallet providers, so why should people use Digital yuan? The answer is simple: it provides people with great value without losing their purchasing power, provision of money across the border, offline transactions are possible, transactions that require only digital wallet in contrast to Ali pay and WeChat pay and above all 100% backed up by Chinese bank reserves. It will help improve efficient transaction with the central bank coordinating directly with the customers and flexibility in cash distribution. The currency sovereignty will be protected and maintain its legal currency status while providing partially anonymity of payments with the control of money-laundering and to enable transaction in developing and US-empowered nations. To fully utilize the competitive advantage, big firms such as JD.com in China are introducing digital yuan to their services such as cross-bank payments, B2B transactions and even the employees at JD.com are paid in digital-yuan. With each passing day, China is on its way to make digital yuan on a large-scale adoption reinforced by big corporations like Ant group, MasterCard, Tencent and e-commerce JD.com. It is further planned by Chinese authorities to use e-CNY during the 2022 Winter Olympic games and introduced it to foreign visitors. The PBOC has planned to test its usability through 750k lottery driven participants with its impact on the both domestic and international transaction. It is not meant to infuse the economy with more cash and lead the economy towards inflation or increase the money supply, but it will act just as a replacement for cash. China has adopted to work on a mechanism of the cashless economy through Chinese digital currency e-CNY targets to replace the dollar as the world’s reserve currency. The e-CNY, also known as Digital yuan or digital RMB introduced by PBOC (People Bank of China), is the electronic form of Chinese Renminbi, and like Chinese Renminbi, it aims to circulate around deposit accounts and other transactions method. ![]() You can trade the ECNY on and other Cryptocurrency Exchanges. The fully diluted market cap in the last 24 hours. Digital Yuan Price Today $0.050315 USD, reaching a trading volume of $354,066 USD in last 24-hour gap.ġ ECNY means 0.05 US dollars. The Digital Yuan or ECNY, also known as cryptocurrency, operates on the Binance Smart Chain platform.
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