What is the experience of using digital RMB?
"Welcome to use digital renminbi to buy Olympic mascots" "This digital renminbi is really convenient"... For the ongoing 2022 Beijing Winter Olympics, the digital renminbi pilot covers more than 400,000 Winter Olympics scenes, providing foreign friends and Chinese residents with Convenient financial services.
In the past two years, the digital renminbi has been continuously expanded in the national pilot scope, covering more and more fields.
As of June 30, 2021, there are more than 1.32 million digital RMB pilot scenarios, taking into account both online and offline, covering wholesale and retail, catering, cultural tourism, education and medical care, public transportation, government payment, tax collection, subsidy distribution and other fields.
What is the experience of using digital renminbi?
How will the future change our lives?
Buy BingdunDun with digital RMB
——Overseas people who come to China do not need to open a bank account in mainland China, they can download the digital RMB APP through their overseas mobile phone number to open four types of wallets
With the Beijing Winter Olympics being held, the mascot Bing Dun Dun has become a hot commodity.
During the Spring Festival, in the Wangfujing Winter Olympics licensed merchandise retail store in Beijing, there was an endless stream of consumers who came to buy Bingdun pier.
Among them, many people choose to use digital renminbi to pay.
Beijing citizen Xiao Zhang has already downloaded the digital RMB (pilot version) APP on his mobile phone, "It's very convenient, you can pay by swiping up, and the speed is fast enough!"
In the Winter Olympics venues, three payment methods are supported: VISA, cash RMB and digital RMB.
For users who are accustomed to mobile payments, digital RMB has become the most convenient choice.
Volunteer Xiao Sun told reporters that he downloaded the APP and opened the ICBC wallet for daily consumption during the Winter Olympics.
"I feel that the experience of using digital renminbi is similar to Alipay and WeChat payment. It is very smooth and faster to use. You can pay successfully by touching the merchant's label with your mobile phone."
For those who come to China from abroad, it is not necessary to open a bank account in mainland China to open a digital renminbi wallet. They can download the digital renminbi APP through an overseas mobile phone number to open four types of anonymous wallets. threshold for financial services.
In addition to soft wallets, there are also hard wallets.
Including card-type hard wallets, bracelet hard wallets and other forms, can be obtained and used anonymously, which is safe, convenient and fully protects personal privacy, and fully meets the needs of users for small and anonymous payment.
Even through the glass, you can complete the payment by sticking the hard wallet to the POS machine of the merchant.
At present, the Winter Olympics-themed digital RMB hard wallet issued by Bank of China is the first hard wallet officially used by the public.
Consumers can obtain and open digital RMB hard wallets through Bank of China outlets, hard wallet self-service exchange machines and other channels.
The "Post a Post" function on the digital RMB APP can connect soft and hard wallets, manage hard wallets on mobile phones, recharge and redeem hard wallets, check balances and transaction details, etc.
Cover more areas of people's livelihood
——Distribute digital RMB red envelopes, take the subway for 1 cent, get digital RMB cashback rewards for low-carbon consumption, and digital RMB is closer to you and me
The Winter Olympics scenario is only part of the pilot work on the digital renminbi.
At the end of 2019, pilot tests of the digital renminbi were launched in Shenzhen, Suzhou, Xiong'an New Area, Chengdu and the Winter Olympics.
With the official launch of the digital renminbi (pilot version) APP at the beginning of this year, digital renminbi has gradually entered daily life, and small-value high-frequency transactions have become an important scene.
Take the subway for 1 cent – ICBC and Yitongxing recently launched the “1 cent to take the subway” digital renminbi promotion. Passengers can choose the digital renminbi payment method and only need to pay 1 cent after receiving the ticket through the “Yitongxing” APP. You can take the Beijing subway once for a cent.
Video card switch and lock shared bicycles - In April 2021, Didi and ICBC launched a new application, users can use the video card to unlock and lock the green orange bicycle and complete the payment. This application can be used for people who are inconvenient to use smartphones. Convenient and safe green travel and offline payment service experience.
The relevant person in charge of Meituan told this reporter: "At present, under the guidance of relevant departments, Meituan has been engaged in catering, takeaway, fresh food retail, shared bicycles, Meituan taxi, hotel tourism, movie performances, leisure and entertainment, etc. More than 200 consumption scenarios on the platform have opened digital renminbi payment channels, realizing the full coverage of digital renminbi in consumption scenarios on the platform. This is also the first time that digital renminbi has achieved full-scene coverage of the local life service platform. "Digital renminbi is far from your daily life. Getting closer.
The reporter learned that since the full launch of the digital renminbi pilot in 2019, the current research and development experiments have basically completed top-level design, functional research and development, system debugging and other work, and are following the principles of stability, safety, controllability, innovation and practicality. areas for pilot testing.
The scale of pilot tests has been expanded in an orderly manner.
As of June 30, 2021, the number of whitelisted users invited to the digital renminbi pilot program has exceeded 10 million, 20.87 million personal wallets and 3.51 million public wallets have been opened, and the cumulative number of transactions is 70.75 million with an amount of 34.5 billion yuan.
Enterprises and individuals actively participate, conscientiously implement whitelist management measures, and actively feedback user experience and improvement suggestions.
The participating institutions give full play to their own advantages, promote and manage whitelist users in a safe and orderly manner, and provide services meticulously.
The application field is gradually expanding.
As of June 30, 2021, there are more than 1.32 million digital RMB pilot scenarios, taking into account both online and offline, covering wholesale and retail, catering, cultural tourism, education and medical care, public transportation, government affairs payment, tax collection, subsidy distribution and other fields.
In combination with the actual conditions of the pilot areas, the participating institutions have focused on creating distinctive and bright application fields, and initially formed a number of replicable and popularized digital RMB application scenarios.
Fan Yifei, deputy governor of the People's Bank of China, said earlier: "From the feedback of whitelisted users, the digital renminbi has further improved payment efficiency and reduced payment costs, and the general public, small and micro merchants and enterprises have felt real convenience and inclusive benefits. "
The application model continues to innovate.
All parties concerned are actively exploring new businesses and applications that are closely integrated with various innovative technologies.
Local governments in most pilot areas have introduced digital renminbi red envelopes to stimulate consumption in combination with smart contract functions.
In cooperation with relevant mobile phone manufacturers, research to provide new mobile payment experiences including functions such as dual offline transactions.
Based on the smart video card test, the hard wallet payment mode separated from the mobile phone provides the possibility to bridge the "digital divide".
Facilitate the development of the digital economy
——Low-cost, safer, and also the need to support the construction of a modern central bank system, participate in international financial reform and coordinate dialogue
At present, mobile payments such as Alipay and WeChat Pay have been integrated into life.
Where financial service coverage is insufficient, the public is more dependent on cash.
In this context, why promote the digital renminbi?
The need to help the development of the digital economy.
According to reports, technological innovation represented by the digital economy has become an important driving force for the development momentum. To achieve high-quality development, China needs a more secure, universal, and inclusive new retail payment infrastructure as a public product. To meet the diverse payment needs of the people, and to improve the level and efficiency of basic financial services.
Low cost and safer.
The "White Paper on the Development of China's Digital RMB" issued by the People's Bank of China pointed out that the digital RMB does not count interest, and the People's Bank of China does not charge the designated operating agencies for exchange and circulation services, and the designated operating agencies do not charge individual customers for the exchange of digital RMB. , Redeem the service fee.
The design of push sub-wallets can better protect user privacy.
The relevant person in charge of Meituan introduced: "In layman's terms, sub-wallets can be understood as the way that users bind the digital RMB wallet to the Meituan platform to make digital RMB payments after opening a digital RMB wallet, which is similar to how users bind a bank card. Quick payment services in various mobile payment tools or e-commerce platforms.” The difference is that when paying with digital renminbi, the user’s payment information will be packaged for encryption, and pushed to the e-commerce platform in the form of a sub-wallet. The security of the user's core information is guaranteed.
In addition, Fan Yifei said that the research and development of digital renminbi has rich policy connotations.
On the one hand, it is the need to support the construction of a modern central bank system.
The central bank is the issuing bank, the bank's bank, and the country's bank.
In the digital economy era, the central bank, as a public sector, is obliged to maintain the public's direct access to cash, and to ensure the unity of accounting units under the digital economy through the digitization of cash.
At the same time, the central bank should maintain and improve the diversity of payment instruments and support fairness, efficiency and security in the retail payment field.
On the other hand, there is also the need to actively participate in international financial reform and coordination dialogues.
At present, the world is highly concerned about the development situation, development trend and related impacts of digital currency.
The People's Bank of China explored the design rules of retail central bank digital currency through the digital RMB research and development pilot, laying a practical foundation for participating in the international coordination dialogue on digital currency.
According to reports, in the next step, the People's Bank of China will continue to steadily promote the digital renminbi research and development pilot, further expand the coverage of pilot application scenarios, study and improve relevant systems, deepen the research and evaluation of the deep impact of legal digital currency on monetary policy, financial system, and financial stability, and actively participate in International exchange of legal digital currency, discuss and formulate legal digital currency standards and rules in an open and inclusive way, and jointly promote the development of legal digital currency.
Xu Peiyu