​Digital RMB brings payment convenience during Beijing Winter Olympics

Updated: February 8, 2022 Source: Belt and Road Portal
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A staff member (L) of the Bank of Communications helps as a tourist tries the online wallet of digital RMB at the Happy Valley Beijing theme park the in Beijing, capital of China, June 16, 2021. (Xinhua/Chen Zhonghao)

A broad range of digital renminbi (RMB) products are available during the 2022 Beijing Winter Olympics, delivering convenience of mobile payment to Chinese residents and foreign visitors, particularly those making small payments, reported Economic Information Daily on Monday.

Consumers can use the digital RMB app or exchange for digital RMB hard wallets in the forms of cards, bracelets, etc. which can be obtained and used anonymously, and are safe and convenient and protective for privacy.

Consumers can easily obtain and open digital RMB wallets through Bank of China outlets, hard wallet self-service exchange machines, designated hotels and other channels. Soft wallets, which are digital yuan wallet apps, can be downloaded in China's major app stores.

Opening soft digital RMB wallets does not necessarily require bank accounts. If consumers just want to make small consumption, they can easily open such wallets of any operating organization with their cellphone numbers.

To better serve the consumers during the 2022 Beijing Winter Olympics, four digital RMB service desks are set in the first-floor, second-floor and fifth-floor spectator areas of the National Stadium.

"The service desk introduceda lot of basic knowledge aboutdigital RMB, and also displayeda variety of digital RMB hard wallets, including visual cards, smart e-card wallets, watches, bracelets and so on. It was the first time that I had a comprehensive understanding of digital RMB," said a lady attending the opening ceremony of the Winter Olympics.

Overseas visitors can apply for digital RMB hard wallets, or anonymously open such wallets through the digital RMB app downloaded in China with overseas mobile phone numbers, exchanging cash or foreign cards for digital RMB.

It's learned that the digital RMB app allows cellphone numbers from nearly 100 countries and regions participating in the Winter Olympics to be used for registering and opening a digital RMB wallet.

For users who have downloaded the digital RMB app and also bought a hard wallet, the hard wallet can be connected with the app through a built-in function of the app, and in this way, consumers can manage their hardware wallets through the app, such as setting the payment password, querying the balance and transaction details, recharging and redeeming.

Editor: Yu Huichen