One of China’s largest state-owned banks, the Bank of China, has partnered with China Telecom and China Unicom to test SIM card near-field communication (NFC) payment links for the digital yuan, according to the local news report.
The bank enables users to make payments using their phones by connecting to its e-CNY app via a ‘super SIM’ card. This NFC enable SIM card allows payments to be made even when the phone is turned off. However, this feature is only available at specific pilot locations in China.
The digital renminbi SIM card ‘hard wallet’ boasts features such as safety and reliability, non-electric payment, shared balance, and universal convenience.
This development with the digital yuan demonstrates China’s progress in advancing digital currency technology and enhancing payment convenience.
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