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China digital currency trials show threat to Alipay, WeChat duopoly


China digital currency trials show threat to Alipay, WeChat duopoly
Today
05:01 am JST
Today | 06:35 am JST
SHANGHAI
In China s commercial hub Shanghai, six big state banks are quietly promoting digital yuan ahead of a May 5 shopping festival, carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay.
The banks are persuading merchant and retail clients to download digital wallets so that transactions during the pilot program can be made directly in digital yuan, bypassing the ubiquitous payment plumbing laid by tech giants Ant Group, an affiliate of Alibaba, and Tencent.
People will realize that digital yuan payment is so convenient that I don t have to rely on Alipay or WeChat Pay anymore, said a bank official involved in the rollout of e-CNY for the Shanghai trial, under the guidance of China s central bank. The official is not authorised to speak with media and declined to be ident ....

Jack Ma , Wilson Chow , Li Bo , Ant Group , People Bank , Ma Alibaba Group Holdings , Agricultural Bank , China Construction Bank , Ant Group Alipay , Wechat Pay , Ali Baba Group Holdings , Chat Pay , Commercial Bank , China Construction , பலா மா , வில்சன் சோவ் , லி போ , எறும்பு குழு , மக்கள் வங்கி , சீனா கட்டுமானம் வங்கி , வெச்சாட் செலுத்த , அரட்டை செலுத்த , வணிகரீதியானது வங்கி , சீனா கட்டுமானம் ,

With digital yuan trials, Beijing looks to claw back data from Alipay and WeChat


With digital yuan trials, Beijing looks to claw back data from Alipay and WeChat
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China s digital yuan push is seen as providing consumers with a payment alternative to Alipay and WeChat Pay. | REUTERS
SHANGHAI
Apr 26, 2021
Reuters – In Shanghai, China’s commercial hub, six big state banks are quietly promoting a digital yuan ahead of a May 5 shopping festival carrying out a political mandate to provide consumers with a payment alternative to Alipay and WeChat Pay. ....

Jack Ma , Wilson Chow , Li Bo , Ant Group , People Bank , Ma Alibaba Group Holdings , Agricultural Bank , China Construction Bank , Ant Group Alipay , Wechat Pay , Ali Baba Group Holdings , Chat Pay , Commercial Bank , China Construction , பலா மா , வில்சன் சோவ் , லி போ , எறும்பு குழு , மக்கள் வங்கி , சீனா கட்டுமானம் வங்கி , வெச்சாட் செலுத்த , அரட்டை செலுத்த , வணிகரீதியானது வங்கி , சீனா கட்டுமானம் ,