Tourists Can Now Fund Digital Yuan Wallets Using Prepaid Mastercards for Spending Purposes

Tourists Can Now Fund Digital Yuan Wallets Using Prepaid Mastercards for Spending Purposes

The People's Bank of China (PBOC) has recently updated its Digital Yuan app, offering a more convenient payment method for international tourists visiting China.

The updated app now allows tourists to top up their e-CNY wallets using Mastercard or VISA cards, making it easier for them to participate in the digital economy of China. This update is a significant step towards making e-CNY a commonly used payment method, not just within China, but also for tourists.

The e-CNY, or the state-backed digital renminbi, is being promoted as a means to simplify transactions for the Chinese population and visitors alike. The app, currently in beta, enables consumers to create personal digital wallets for the e-CNY.

The expansion of e-CNY usage includes both physical retail stores and online purchases. In fact, e-CNY has already been used for payments at local stores by tourists, and example usage was demonstrated during the Beijing Winter Olympics in 2022.

China aims to make e-CNY a widely accepted payment method, not just within its borders, but also during major international events like the Asian Games. The latest update of the Digital Yuan app (version 1.1.1) is aligned with China hosting the Asian Games, aiming to make digital money usage more accessible for tourists.

The app is available to iPhone users in some regions of China and China-based Google Play Store users. This convenience for tourists is expected to encourage more experimentation with e-CNY for payments in physical stores in China.

The goal is to streamline everyday transactions for the Chinese population using e-CNY, and the updates to the app are a step towards achieving this goal. The promotion of e-CNY for use in everyday transactions within China and as a convenient payment method for tourists is a testament to China's commitment to digital currency adoption.

Read also:

• International cooperatives associated with OCOP (One Commune One Product) are actively exploring strategies to access and penetrate foreign markets.
• Federal health clinics in Maine seek restoration of withheld Medicaid financing, filing a lawsuit against the Trump administration over funding reductions.
• Tezos' Etherlink Broadens Its Gaming Offerings with Incorporation of Pikes Arena and Cricket Champions
• Depakote Cost in 2025: Discounts and Additional Savings Options