CandleFocus China’s central bank reveals physical CBDC card with dynamic QR codes
2024-11-08
Author: Content Editor
The People's Bank of China has developed a physical visual card for its central bank digital currency, the digital yuan. The card allows users to make both online and offline payments, with features such as tap-to-pay and scan-to-pay options. The card is 1mm thick and includes a screen displaying balance and payment details, as well as dynamic QR codes. It has already been integrated with the HarmonyOS system and is being used for public transport payments in certain cities. However, the digital yuan has faced challenges in gaining popularity, with some officials being hesitant due to concerns over interest and limited usability. Beijing is reportedly pressuring local payment giants to make room for the digital yuan in the market.
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