Foreigners can replenish their app wallets using online services of Visa and Mastercard. Read more at straitstimes.com.
BEIJING – China has upgraded its digital renminbi payment services as part of the country’s efforts to improve the profile of its digital currency and make the payment process more user-friendly for foreigners.
Previously, foreigners in China could not top up their e-CNY wallets in advance. They could only do so on the spot when making payments. With the upgrade, foreigners can now use their e-CNY wallets both at brick-and-mortar merchants capable of accepting the digital currency under trial programmes, and on online platforms such as ride-hailing app Didi, takeaway service provider Meituan, travel portal Ctrip and e-commerce platform JD.
Analyst Zhou Maohua from China Everbright Bank said the upgrade will benefit foreigners and increase the presence of e-CNY in cross-border transaction scenarios, which will ultimately help to promote the digital RMB and facilitate the internationalisation of the currency.