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The Qingdao branch of the Bank of China (BOC) has introduced a new payment method for the metro transit system in Qingdao utilizing digital yuan hardware wallets.
As reported by the local news source Dazhong, this initiative implements a “deferred payment” system that enables passengers to access public transit services initially and settle payments later using the hardware wallet functionality available on their smartphones.
Created under the supervision of the BOC Currency Research Institute and in collaboration with China Telecom, China Unicom, and Digital Finance Public Service, users can finalize payments without needing internet access or power through the digital yuan applications provided by BOC, Telecom, or Unicom.
This system adheres to national transportation and financial security regulations, marking a groundbreaking application of central bank digital currency (CBDC) within China’s metro industry, utilizing Near Field Communication (NFC).
Enhancing Digital Yuan Wallets with NFC
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The Chinese smartphone company Oppo has recently updated its wallet application, integrating e-CNY accounts while offering users additional payment options beyond the official digital yuan applications.
To further advance NFC payment capabilities, China Mobile, China Telecom, and China Unicom have launched Super SIM cards that hold digital yuan account details.
Beijing Business Today previously noted that users can upgrade their SIM cards to Super SIM without altering their phone numbers. When they open the e-CNY app with the Super SIM inserted, they can effortlessly connect their SIM-stored accounts to the application.
Currently, only Android devices support the Super SIM feature. Depending on vendor availability, users with Super SIM will be able to make contactless payments without an internet connection or power. Additional NFC functionalities, such as car keys, will also be accessible.
Guangzhou to Improve Payment Experience for International Tourists
The Government of Guangzhou Municipality has recently issued a statement aimed at enhancing the accessibility of digital currency for international visitors.
“They should install digital yuan hardware wallet foreign currency exchange machines in strategic locations and promote their use, thereby improving the convenience of digital yuan transactions for inbound tourists,” the government added.
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