WeChat Starts Supporting China’s Digital Currency

Garrett_Li

Garrett_...

· 1月6日

After registering for a digital RMB wallet on WeBank with a national ID, users will be able to pay via the digital RMB app or WeChat directly. The transaction and exchange of digital RMB are achieved through QR code.

Image: Visual China

BEIJING, January 6, 2022 (TMTPOST) — Chinese Internet giant Tencent’s messaging app WeChat now supports the use of China’s digital RMB as the country starts testing digital RMB app in eleven pilot areas.

China’s digital RMB (renminbi) is a digital currency issued by China's central bank, the People's Bank of China. It started undergoing public testing as of April 2021. As a legal tender, digital RMB has equivalent value with other forms of the renminbi, also known as the Chinese yuan (CNY), such as bills and coins.

WeBank (WeChat Payment) has launched its digital RMB wallet, which allows users to use digital RMB on China’s most popular messaging app and social media platform WeChat.

After registering for a digital RMB wallet on WeBank with a national ID, users will be able to pay via the digital RMB app or WeChat directly. The transaction and exchange of digital RMB are achieved through QR code.

Digital RMB will be further tested at the venues of the Beijing 2022 Winter Olympics, including Beijing and Zhangjiakou. The digital RMB app has also started trial operation on Tuesday in 11 pilot areas across the country. The app is available on both Apple App Store and Android app marketplaces for download.

Besides WeBank, digital RMB is also supported by a number of Chinese banks, including the Industrial and Commercial Bank of China, the Agricultural Bank of China and the China Construction Bank.

See also: China Tests Digital RMB App in 11 Pilot Areas in the Country

In addition, the popular food delivery app Meituan Takeout now supports the use of digital RMB as well. Users in the 11 pilot areas such as Beijing, Shanghai and Shenzhen can directly pay for their food on Meituan Takeout with digital RMB. Users only need to add their digital RMB wallet to Meituan to enable the function.

Users can enjoy discounts when using digital RMB in payment.

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