The e-CNY wallet is also accessible through the electronic wallets of seven other major domestic banks, namely the Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, Bank of China, Bank of Communications, Postal Savings Bank of China and China Merchants Bank.Ĭhina's strengthened efforts to promote its digital currency come just weeks before the festive Lunar New Year, which begins on Feb 1, and the Winter Olympics hosted by Beijing, scheduled to start on Feb 4.ĭuring the Lunar New Year holiday, people in mainland China customarily send monetary gifts known as "red packets" using payment apps.
#JINGXI WECHAT PAY CHINACHINA MORNINGPOST ANDROID#
This comes after the digital yuan's developer - the Digital Currency Research Institute under the People's Bank of China - made its official e-CNY app available for public download on iOS and Android app stores in the country. On Friday, JD.com also said it would support e-CNY payments for purchases made on its main online shopping platform in stores run by the e-commerce company, as well those operated by third-party merchants on its budget shopping app Jingxi. Alipay is operated by Ant Group, a fintech affiliate of Alibaba Group Holding, owner of the South China Morning Post. While electronic payments are currently dominated by commercial solutions, Tencent Holdings' WeChat Pay has recently started giving users the option to pay by the digital yuan, while Alipay has included the function since last year. The State Council, China's cabinet, said in a policy blueprint released on Thursday that it would encourage the use of e-CNY in retail transactions, utility bill payments, and the administrative service. HONG KONG: China has made a fresh push this week to convince consumers to try out the digital yuan, with the country's top government body endorsing the wider use of the electronic currency in various scenarios. In fact, WeChat actually has a lot of partnerships set up with other Chinese companies which allow you to directly access them as a Mini Program.A woman walks past a banner advertising the Beijing 2022 Winter Olympics at the Main Press Centre in Beijing on Thursday. JD is not the only app you can access thorugh WeChat. You are also able to directly access JD through the WeChat app. Similarly, thanks to a deal in 2015 between Tencent and Jing Dong, you are only able to use WeChat Pay as a mobile payment on JD. This is because they are both owned by Alibaba so it makes sense for their business not to allow their competitor WeChat Pay as an option on their shopping apps. You’ll see that the only usage Alipay has which WeChat Pay doesn’t is the shopping apps Taobao and TMall. In fact, there are now some shops and venues which only accept mobile payments. Whether it’s ordering food, getting a taxi, topping up your electricity, buying plane tickets or sending money to friends the sky really is the limit with these mobile payment apps. Yes, nowadays WeChat Pay and Alipay can be used for pretty much everything. WeChat Pay vs Alipay – What Can they be Used For? Living in Beijing Part 1 | Being a Beijing Expat 🌎 What’s the Deal?īeijing is an incredibly large city, and because of this looking for apartments and getting prepared for living in Beijing can be extremely daunting.
With more supported currencies and a much higher limit for withdrawals, you can see some of the ways that Alipay is more focused towards ecommerce and business.
In the table below you can see some of the key differences between the two smart payment systems. As Alipay was originally created as a payment platform for the Alibaba website, it has become more of an escrow payment service. Popular uses are purchasing groceries, paying bills, transferring money to friends, sending red envelopes and other everyday transactions.Īlipay on the other hand puts more emphasis on e-commerce payment and financial services. WeChat Pay is more of a social app used by most users to navigate their daily life. This means that although both systems can be used for similar things the focus of them is slightly different.
0 kommentar(er)
