“Tap” to receive and pay, “sub-wallet” can be bound to other applications
Yangcheng Evening News All-Media Reporter Guo Qi Daimanman
On the 4th, the digital renminbi (pilot version) APP officially registered in major application stores. As the APP is still in the regular testing stage of the development process, currently only whitelisted users whose operating agencies have expanded in pilot areas and pilot scenarios can register. The pilot areas are: Shenzhen, Suzhou, Xiongan, Chengdu, Shanghai, Hainan, Changsha, Xi’an, Qingdao, Dalian and Winter Olympics scenes (Beijing, Zhangjiakou).
The reporter downloaded this APP to register and log in in the Huawei App Store, and connected to the digital RMB account of China Construction Bank for experience. It is understood that the APP has also innovatively introduced functions such as “touch” collection and payment, and “sub-wallet” push.
Classified management according to the strength of user identification
According to the information in the digital renminbi app, the app developer is the People’s Bank of China Digital Currency Research Institute, a mobile application jointly built by operating agencies that open digital renminbi wallets and provide services for users. Operating institutions include Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, Internet Commercial Bank (Alipay) and WeBank (WeChat Pay).
Digital RMB wallets are classified and managed according to the strength of user identification. Currently, personal digital renminbi wallets are divided into four types. The first type of wallet requires the user to provide a mobile phone number, a valid ID card, his bank account, and an on-site face-to-face signature by the operating institution. There are no transaction restrictions. The second type of wallet requires the user to provide a mobile phone number, a valid ID card, and his own bank account. The upper limit of the balance is 500,000 yuan, and the single payment limit is 50,000 yuan. The three types of wallets require users to provide a mobile phone number and a valid ID. The upper limit of the balance is 20,000 yuan, and the single payment limit is 5,000 yuan. The four types of wallets can be processed by providing a mobile phone number, and the upper limit of the balance is 10,000 yuan, and the single payment limit is 2,000 yuan.
The reporter learned that the four types of wallets can be upgraded online to the second and third types in the APP. After entering the digital renminbi wallet payment password, name, ID number, and completing the face verification, there is no need to enter the bank card number, the APP automatically reminds the mobile phone to have installed the commercial bank APP to complete the binding, and the entire upgrade process can be completed in one or two minutes ,Convenient.
Dual offline payment function is worth looking forward to
The innovative “sub-wallet” function of the digital RMB APP has attracted much attention. Users can select applications that provide digital renminbi payment through the “sub-wallet” function, and click to bind to complete the push. Currently, it provides 49 applications covering shopping, travel, tourism, and life, including JD.com, Meituan, and Shenzhen Airlines.
According to reports, the “sub-wallet” is convenient and quick to use. The user selects a merchant, pushes the sub-wallet, and then pushes and uses it, and supports secret-free payment. At the same time, after the “sub-wallet” is pushed to the merchant, the user can adjust the payment limit in real time and cancel the push of the sub-wallet at any time, and the security is guaranteed. Digital renminbi will also not transmit the user’s wallet and real-name information to merchants, which can maximize user privacy and security.
The digital renminbi APP also launched a “touch one touch” payment and collection function. At present, Android phones support the “touch one touch” merchant label and terminal collection and payment, while Apple phones only support the “touch one touch” merchant label collection and payment. When the user turns on the NFC function of the mobile phone, he can use the APP to make a “touch” payment.
According to the information in the digital renminbi APP, the digital renminbi dual offline payment has completed the technical verification and entered the design stage of supporting standards and specifications. To ensure a unified user experience, the current version does not provide the public with dual offline payment functions. This means that the application scenarios of mobile payment will be broadened in the future, and the pain point of “no signal can not be paid” is expected to be solved.
Facilitate the popularization and application of digital RMB
Does the launch of the digital renminbi APP mean that the popularity of digital renminbi is accelerating? In response, Pan Helin, member of the Information and Communication Economy Expert Committee of the Ministry of Industry and Information Technology and executive dean of the Digital Economy Research Institute of Zhongnan University of Economics and Law, said that the popularity of digital renminbi is related to communication channels and ease of use. At present, the smart phone APP is the best communication channel, and all digital RMB application scenarios are bound through the APP, which is more convenient for users to obtain. At the same time, the simpler the payment APP, the easier it is to be welcomed by the society. This is also the advantage of mobile payment over traditional payment methods such as credit cards in the past. The current digital renminbi APP has both advantages and will help the popularization and application of digital renminbi in the future.
“Of course, there are still many restrictions at this stage, such as designating pilot areas and restricting whitelists, but the launch of the APP does bring a lot of expectations to people across the country.” Pan Helin suggested that the scope of the pilot area should be expanded as soon as possible to allow more people Participate in the pilot.
Chita D
Shenzhen gradually forms a digital RMB ecosystem
In July last year, the People’s Bank of China released the “White Paper on China’s Digital RMB R&D Progress” that as of June 30, 2021, there were over 1.32 million digital RMB pilot scenarios; more than 20.87 million personal wallets and 351 public wallets were opened. There are more than 10,000, with a total of 70.75 million transactions and an amount of approximately 34.5 billion yuan.
Shenzhen is one of the earliest pilot projects of digital renminbi. In November 2019, Shenzhen became one of the first four digital RMB pilot areas in the country. In October 2020, Shenzhen took the lead in launching a large-scale externally controllable digital renminbi pilot project, and launched the first domestic digital renminbi externally controllable pilot-the “Luohu Digital RMB Red Packet” campaign. Since then, Shenzhen’s pilot activities have continued to innovate, and the scope and scale of external controllable pilots have continued to expand.
At present, the digital renminbi ecosystem in Shenzhen is gradually taking shape. The digital renminbi pilot scenario not only covers retail catering, living payment, transportation, medical and health, government services and other fields, but also makes breakthroughs in consumer poverty alleviation and cross-border payments. (Guo Qi)
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