Tencent, the Chinese tech giant, has announced that its WeChat ecosystem will enable users to make payments using the Chinese central bank digital currency (CBDC). This will allow WeChat users to pay via in-app applets and shop on e-commerce platforms such as JD.com without leaving the WeChat ecosystem. The move will also enable users to make digital yuan payments on applets and video channels. This will enable users to make payments quickly and securely, while also providing access to a wide range of services within the WeChat ecosystem.
WeChat Pay Interoperability: A Convenient Way to Access Applet Services
WeChat is a popular messaging app that has recently implemented a new feature – WeChat Pay interoperability. This feature allows users to access applets without having to leave the WeChat app or download and install software to their mobile devices. To access these applets, users can search for them by name or scan QR codes. Additionally, WeChat Pay can be used to complete payments. This feature was first implemented early last year, providing users with a convenient way to access applet services.
WeChat Pay Now Accepts Digital Yuan
WeChat Pay recently announced that it now accepts digital yuan as a payment option. This means that users of WeChat Pay can now choose to pay with the digital yuan when making in-store purchases. According to WeChat, the digital yuan can be used for transactions with merchants that support it in video account and mini program-related scenarios. This move is expected to further increase the popularity of digital yuan. Moreover, make it easier for people to use it for everyday transactions. With the addition of WeChat Pay, the digital yuan is now more accessible and secure than ever before.
Digital Yuan Gaining Momentum
The digital yuan, China’s central bank digital currency (CBDC), is gaining momentum. Multiple Chinese media outlets have reported that the pace of the pilot has accelerated this year. This is with 26 regions in 17 provinces now using the token. Merchants offering travel, catering, and retail services are among the first to make use of the new payment options.
Several of these regions have unveiled detailed plans to promote the adoption of the CBDC. Next month, the digital yuan will be used to pay public sector workers in the city of Changshu “100%” of their salaries. This is a major step forward for the digital yuan. It is likely to be adopted more widely in the near future.
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