Finally, WeChat Pay, which has more than 800 million users, will add Chinese digital yuan 'e-CNY'
It has been revealed that WeChat Pay, a payment service provided by WeChat, China's largest messaging app under
Tencent opens its WeChat Pay wallet to digital yuan --Chinadaily.com.cn
http://www.chinadaily.com.cn/a/202201/06/WS61d660bfa310cdd39bc7f7ba.html
China's digital currency comes to Tencent's WeChat in expansion push
https://www.cnbc.com/2022/01/06/chinas-digital-currency-comes-to-tencents-wechat-in-expansion-push.html
The People's Bank of China, the issuer of e-CNY and the central bank of China, has so far held a lottery to distribute a small amount of e-CNY to a small number of citizens in a small number of cities. We have conducted limited social experiments. The specific timing is undecided, but there are signs that the People's Bank of China is considering expanding the use of e-CNY. In December 2021, it was reported that McDonald's in Shanghai was under pressure to use e-CNY.
Chinese Government Pressures McDonald's to Expand Digital RMB Implementation Tests-GIGAZINE
WeChat Pay, which announced support for e-CNY, is a mobile payment service provided by WeChat. WeChat is an app that is almost unfamiliar to users outside of China, but it has become a useful app in various situations of daily life, such as messaging function, vehicle dispatch and food delivery, and it is 1 billion worldwide. It is said that there are more than one user. In addition, WeChat Pay has 800 million monthly active users.
by Albert Hsieh
In China, WeChat Pay and Alipay operated by Alibaba's Ant Group dominate the mobile payment market, and in 2021 Alipay also piloted e-CNY. In January 2022, the People's Bank of China released an e-CNY payment app for users in specific regions and some cities in China, but economic analyst Linghao Bao said, 'Chinese consumers are WeChat. I'm so immersed in Pay and Alipay that it's not practical to convince me to switch to a new mobile payments app. '
CNBC, a major economic media outlet, pointed out that 'the reason why China is eager to expand the use of e-CNY is likely to be because it is ahead of the Beijing 2022 Winter Olympics to be held in February 2022.' doing.
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