{"id":66747,"date":"2022-08-26T09:01:46","date_gmt":"2022-08-26T09:01:46","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=66747"},"modified":"2022-08-26T09:01:46","modified_gmt":"2022-08-26T09:01:46","slug":"china-introduces-digital-yuan-payments-in-ningbo-subway-guangzhou-buses","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=66747","title":{"rendered":"China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses"},"content":{"rendered":"<p><img decoding=\"async\" width=\"768\" height=\"432\" src=\"https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-768x432.jpg\" class=\"attachment-medium_large size-medium_large wp-post-image\" alt=\"China Introduces Digital Yuan Payments in Ningbo Subway, Guangzhou Buses\" loading=\"lazy\" srcset=\"https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-300x169.jpg 300w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-1024x576.jpg 1024w, https:\/\/www.cryptocabaret.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-768x432.jpg 768w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-190x107.jpg 190w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-380x214.jpg 380w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955-760x428.jpg 760w, https:\/\/static.news.bitcoin.com\/wp-content\/uploads\/2022\/08\/shutterstock_352642955.jpg 1280w\" sizes=\"auto, (max-width: 768px) 100vw, 768px\"><\/p>\n<p><strong>Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency.<\/strong><\/p>\n<h2>Residents and Visitors of Another 2 Chinese Cities to Pay Transit Fares With Digital Yuan<\/h2>\n<p>Ningbo Rail Transit, the operator of the subway system in the city of Ningbo in the eastern Chinese province of Zhejiang, has launched payments in <a href=\"https:\/\/news.bitcoin.com\/digital-yuan-giveaway-shenzhen-residents-to-receive-15-million-yuan-in-digital-currency\/\">digital yuan<\/a>, the central bank digital currency (<a href=\"https:\/\/www.investopedia.com\/terms\/c\/central-bank-digital-currency-cbdc.asp\" target=\"_blank\" rel=\"noopener\">CBDC<\/a>) issued by the People\u2019s Bank of China. The company announced that 125 stations will accept the coin.<\/p>\n<p>The city\u2019s 9.5 million citizens and visitors can now pay their subway fares through the Ningbo Rail Transit app. To do that, they will have to link an e-CNY wallet \u2014 opened with any of the six large Chinese banks participating in efforts to popularize the digital incarnation of the national fiat \u2014 to the application.<\/p>\n<p>Commuters will be required to scan a QR code with their smartphones at the turnstiles to make a payment. Some of those who choose the digital yuan option will be stimulated with a bonus and their ride will cost them just a penny in a promotion running until Sept. 4, a report <a href=\"http:\/\/news.cjn.cn\/zjjjdpd\/yw_20048\/202208\/t4223247.htm\">revealed<\/a>.<\/p>\n<p>China is constantly expanding the pilot zone for the digital yuan project with nine subway systems in various parts of the country now accepting the digital currency. These include subway stations in the capital Beijing, where e-CNY payments were implemented last year.<\/p>\n<p>Meanwhile, the authorities in Guangzhou have allowed bus passengers to buy tickets with digital yuan. They will be able to use their e-CNY wallets on 10 bus lines, including some that offer sightseeing tours for the city\u2019s visitors.<\/p>\n<p>Officials <a href=\"http:\/\/www.qianjia.com\/html\/2022-08\/23_394051.html\">quoted<\/a> by local media noted that the selected bus routes pass through some of Guangzhou\u2019s most scenic spots and popular locations. They also promised to expand the scope of the pilot project in the future.<\/p>\n<p>To take advantage of the newly introduced payment method, commuters and tourists will need to, again, download and install the digital yuan app and set up a wallet on their mobile phones. When they get on a bus they can use the on-board electronic toll terminal to pay for the fare.<\/p>\n<p><em><strong>Do you expect a large number of Chinese passengers to use the digital yuan payment option in the public transit system? Let us know in the comments section below. <\/strong><\/em><\/p>\n<p class=\"wpematico_credit\"><small>Powered by <a href=\"http:\/\/www.wpematico.com\" target=\"_blank\" rel=\"noopener\">WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Authorities in two Chinese cities are promoting the digital yuan as a payment method in the public transportation system. Commuters on the subway of Ningbo and those taking the bus in Guangzhou will be able to purchase their tickets using the state-issued digital currency. Residents and Visitors of Another 2 Chinese Cities to Pay Transit [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":66748,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-66747","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/66747","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=66747"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/66747\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/66748"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=66747"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=66747"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=66747"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}