A shop in Yonglian village, Zhangjiagang, Suzhou, Jiangsu province receives e-CNY payments. [Photo/zjgonline.com.cn]
Businesses in Yonglian village, Nanfeng town in Zhangjiagang, Suzhou, East China's Jiangsu province, have allowed customers to pay fees using digital yuan, or e-CNY, the digital version of fiat currency issued by China's central bank.
When making payments, customers can scan a QR code provided by a retailer or just put their phones with NFC (Near Field Communication) functionality near POS terminals. This method is more convenient for consumers and helps protect their privacy.
In order to devleop an intelligent village, Yonglian worked with the Suzhou branches of China Construction Bank and China Mobile last year and helped 110 local businesses add e-CNY payment options and 30,000 people open digital RMB accounts.
At the beginning of this year, a digital yuan mobile application became available for download, which is expected to enable the e-CNY to be used in more settings outside of wages, subsidies and retail payments.
Huang Guanming, a digital RMB project manager in Yonglian village, said they will carry out more trials related to sectors such as transportation, tourism, farm product procurement, and internet of things.