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China’s WeChat to Allow More In-app CBDC Payments – Digital Yuan Pilot “Accelerates”

Chinese tech giant Tencent has announced that its WeChat ecosystem will allow users to make digital yuan payments on applets and video channels, enabling them to pay via in-app applets using the Chinese central bank digital currency (CBDC). WeChat users can also shop on e-commerce platforms such as JD.com without leaving the WeChat ecosystem. Merchants will need to ensure they have the required software to accept digital CNY payments, and the move is expected to benefit businesses offering travel, catering, and retail services. WeChat's neobanking arm WeBank is among the digital yuan wallet operators that can be used to make payments.

(By Tim Alper)

China CBDCs
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