The release of the new e-CNY app version coincides with the beginning of the Asian Games.
China has actively tested accepting the digital yuan from overseas tourists.
As China updates the smartphone app powering its CBDC trial, visitors to the People’s Republic of China may now preload their digital yuan wallets using Visa and Mastercard payment methods.
The e-CNY app, currently under beta testing, may be downloaded from the Apple App Store or the Google Play Store in China. The app caters to individuals by facilitating the creation of digital yuan wallets for the usage of e-CNY.
Boosting e-CNY Adoption
Version 1.1.1 of the iOS app, released on September 22nd, adds the ability to use foreign credit cards for its in-app purchases. The release of the newest e-CNY app version coincides with the beginning of the Asian Games.
China has actively tested accepting the digital yuan from overseas tourists. Yicai claims that the 2022 Beijing Winter Olympics was the first time the CBDC pilot allowed foreign visitors to use e-CNY to make purchases from local businesses.
It has been claimed that foreign visitors may utilize their domestic phone numbers to sign up for and use e-CNY wallets. Moreover, they utilize the recharge wallet function, which now accepts Visa and Mastercard payments.
Recent updates have detailed China’s efforts to mainstream the use of digital yuan in all retail settings. This would make the digital yuan the de facto mode of payment for consumers and businesses alike throughout China.