![]() ![]() The “e-CNY (Pilot Version)” is only accessible to accredited users via institutions that provide digital yuan services, such as major domestic banks.WeChat and WeChat Pay are part of everyday life in China.įor those who may not be aware, WeChat is a social media giant in China. ![]() Interested to learn how this can affect you on a China tour? With a billion users and counting, the next logical step for this mega platform was the introduction of cashless payments via WeChat Pay. We’ve got everything you need to know right here. WeChat Pay is one of China’s two foremost e-payment platforms. Together these platforms are used by 90 percent of the population. Making everyday transactions super simple, WeChat Pay and Alipay have changed the way merchants sell and buyers pay for products and services in China. Now progress is a wonderful thing, but there are a few challenges around payments that many western travelers experience while visiting on a China tour. (Incredibly, even street vendors use WeChat Pay.) One big impact to be aware of through the proliferation of these platforms is that China moving closer to becoming truly cashless. This is great if you’re a local in Beijing tucking into your breakfast of Qingfeng steamed dumplings, but what if you’re a western traveler on a China tour. What’s the best way to pay, given there’s a move away from cash, and even some credit or debit cards aren’t accepted?īreathe easy because WeChat Pay can help. The owners of WeChat Pay have finally realised the opportunity and now have an option for foreign travelers. Recently WeChat pay announced visitors can add foreign credit cards to WeChat, allowing them to make mobile payments in China. Considering how much easier it is to buy just about anything in China using WeChat Pay, this is a big step forward. Ready to download the app? Let’s go! #1:WeChat and WeChat Pay for foreignersįortunately, using WeChat and WeChat pay is simple. #Wechat china ecny wechat pay mauskharpalcnbc download# #Wechat china ecny wechat pay mauskharpalcnbc download#.#Wechat china ecny wechat pay mauskharpalcnbc android#.But WeChat and Alipay are also potential competitors to the digital yuan's own app. ![]() In China, WeChat and Alipay, which is run by Alibaba affiliate Ant Group, dominate mobile payments last year, Alipay also began trialing digital yuan payments. Previously, users could get the app on an invite-only basis. That will enable anyone in those areas to download and sign up to use the digital currency. This week, the PBOC launched an e-CNY app for users in certain regions and cities in China. To date, the People's Bank of China, which issues the digital yuan or e-CNY, has done limited trials in certain cities via lotteries where the central bank has handed out small amounts of the currency to some citizens.īut there are now signs that the PBOC is looking to expand usage of the digital yuan, despite no concrete date for a nationwide rollout. WeChat Pay has over 800 million monthly active users. It can also be used for purchases online. WeChat Pay allows users to show merchants a barcode on their phone to pay for items in store. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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