Passengers of the Beijing subway now can use digital yuan as a payment method. The pilot program was released on Wednesday.
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As reports the Beijing Municipal Commission of Public Transport at the moment, the option is available at all 24 lines and 4 suburban railway lines in Beijing.Global Times reports that the service is now accessible for those with a bank account from the Industrial and commercial bank of China currently. People need to have the app on their mobile phones and link their bank accounts. In the future, the service will be expanded and new forms of digital yuan payments will appear.
Earlier, the Chinese city Suzhou, located in the Jiangsu Province released a service of using digital yuan to take subway on its line 5.
Thus, Suzhou was the first city in China to allow national CBDC payments for the subway.Previously in June, Beijing hosted over 3,000 digital yuan-supporting ATMs. China started to explore e-yuan in 2014. The currency is issued by The People's Bank of China.