China Payments Giant Alipay Launches Mini-App for Digital Yuan2 min read
Alipay, the renowned payment platform in China, has widened the spread of the digital yuan through its latest implementation.
The Chinese giant created a “digital RMB” search function that would simplify the process of opening an RMB digital wallet for new users.
This new creation supports digital RMB payments, transfers and bank card management functions, making it easier, according to the company, to adopt and spread the Chinese CBDC among users.
According to Alipay, users can also download Renminbi digital app and open Renminbi Alipay MYbank digital wallet and access all Alipay services integrated with China CBDC.
“Another additional functionality is the ability for users to open personal wallets by scanning the Renminbi digital charge code through Alipay,” said the employee.
Furthermore, Alipay stated that creations like these form the framework for the growing adoption of the digital yuan in the mainstream.
At the same time, the company also announced that it will work with its partners to continue to expand avenues for using the digital yuan. This, according to them, will bring a more convenient and secure payment experience for users.
Since the beginning of the digital yuan pilot program and trials, Alipay has been an effective partner of the PBoC, the Central Bank of China.
As reported by 8BTC, the number of digital Yuan wallets that have been opened by Alipay for the use of Digital Yuan is now over 6 million.
With the launch of the new in-app function, users in more than 20 cities in China can now pay for goods and services using Chinese digital currency.
Some areas where this technology has been made available include major cities such as Shanghai, Beijing and Shenzhen.
Users in these cities can now sign up for the apps through seven different traditional banks and two online banks, all of Chinese origin.
In addition, Tencent’s messaging app and payment platform WeChat is among the platforms that have announced plans to integrate the digital yuan into their system.
The WeChat protocol is seen as one of the main channels that can give the digital yuan significant exposure in the mainstream. After all, the platform has more than 1.2 billion users, of which more than 750 million are active daily.
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