PBoC Introduces Physical Card Wallet To Test Digital Yuan

PBoC introduces physical card-wallet to test digital yuan. According to news reported on January 5 by Tencent News, employees at Shanghai Jiao Tong University School of Medicine’s Tongren Hospital used the digital yuan token to purchase food. They used a point-of-sale device and a physical card with a small screen in the top right corner.

The card discloses the remaining amount in the wallet. Local media reports alleges that the Postal Savings Bank of China is responsible in providing technical assistance. The “hard wallet” allows staff to buy products such as a cup of coffee or snacks.

A picture featured in Tencent’s article demonstrates a hospital staff member holding a card with 144.75 yuan on it and three offline payments available. The latter feature permits users to pay or accept e-CNY transfers without Wi-Fi or a mobile network connection.

In other news, the digital yuan pilot programs have been taking place internally in Chinese cities such as Shenzhen, Suzhou, Xiongan, Chengdu, preparing for the Winter Olympics which is scheduled to take place in 2022.

[image: Kido Dong]

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