{"id":560804,"date":"2023-03-07T16:11:59","date_gmt":"2023-03-07T13:11:59","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/wechat-integrates-digital-yuan-into-its-payment-platform\/"},"modified":"2023-03-07T16:11:59","modified_gmt":"2023-03-07T13:11:59","slug":"wechat-integrates-digital-yuan-into-its-payment-platform","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/wechat-integrates-digital-yuan-into-its-payment-platform\/","title":{"rendered":"# WeChat integrates digital yuan into its payment platform"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a26bad555b4c\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a26bad555b4c\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/wechat-integrates-digital-yuan-into-its-payment-platform\/#%E2%80%9D_WeChat_integrates_digital_yuan_into_its_payment_platform_%E2%80%9C\" >&#8221; WeChat integrates digital yuan into its payment platform &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_WeChat_integrates_digital_yuan_into_its_payment_platform_%E2%80%9C\"><\/span>&#8221; WeChat integrates digital yuan into its payment platform &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvOGZhYTg3YWQtOWU3Ny00ZTZkLWI2NmYtZjJmNjQ2NzMxMDllLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>WeChat, China\u2019s leading <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">social<\/a> networking and payment <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>, has added the country\u2019s central bank digital currency (CBDC), to its payment services, according to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.thepaper.cn\/newsDetail_forward_22161660\">reports<\/a> in local media. The move aims to help broaden the appeal of the digital yuan.<\/p>\n<p>WeChat now supports the fast payment function of the digital yuan wallet, making it the second payment platform to do so after Alipay. <\/p>\n<p>This feature enables users to use the digital yuan for payments on certain WeChat mini-programs and other platforms. The pilot version of the digital yuan application\u2019s \u201cWallet Quick Payment Management\u201d page currently lists 94 merchant platforms that can be accessed, now including WeChat. WeChat Pay now allows digital yuan payments on certain apps, such as ordering food from McDonald\u2019s and paying bills.<\/p>\n<p>Users must authorize the digital yuan wallet operator to sync their WeChat-bound mobile phone number for successful activation of the WeChat payment wallet fast payment function. Once activated, payments to digital yuan-supporting merchants can be made through the WeChat app. Additional integrations are expected to become available gradually.<\/p>\n<p>\u201cChinese consumers are so locked in WeChat Pay and Alipay, it\u2019s not realistic to convince them to switch to a new mobile payment app,\u201d said Linghao Bao, an analyst at Trivium China, a strategic advisory firm. \u201cSo it makes sense for the central bank to team up with WeChat Pay and Alipay as opposed to doing it on its own.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>China\u2019s digital yuan gets smart contract functionality alongside new use cases<\/em><\/strong><\/p>\n<p>The digital yuan, also known as the e-CNY, is being piloted in at least 26 Chinese provinces and cities. The token saw a jump in transaction volumes on Chinese e-commerce platforms during the 2023 Lunar New Year shopping season, helped by e-CNY handouts from authorities.<\/p>\n<p>In December 2022, Alipay <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.globaltimes.cn\/page\/202212\/1282316.shtml\">announced<\/a> its access to the digital yuan acceptance network, allowing users to spend digital yuan consumption on platforms served by Alipay, including Taobao, Shanghai Bus, Ele.me, Youbao, Tmall Supermarket and Hema.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/wechat-integrates-digital-yuan-into-its-payment-platform\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; WeChat integrates digital yuan into its payment platform &#8220; WeChat, China\u2019s leading social networking and payment app, has added the country\u2019s central bank digital currency (CBDC), to its payment services, according to reports in local media. The move aims to help broaden the appeal of the digital yuan. WeChat now supports the fast payment&#8230;<\/p>\n","protected":false},"author":1,"featured_media":560805,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/8faa87ad-9e77-4e6d-b66f-f2f64673109e.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75046,75057,74355,4973,70934,71649],"class_list":["post-560804","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cbdc","tag-yuan","tag-adoption","tag-china","tag-regulation","tag-wechat"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560804","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=560804"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/560804\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/560805"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=560804"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=560804"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=560804"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}