Major payments app WeChat to add support for China's digital yuan

Major payments app WeChat to add support for China's digital yuan


WeChat, China’s largest messaging app and one of the country’s most popular payment services, will start supporting the Chinese government’s digital currency.

On Jan. 6, 2021, Tencent announced that it will begin accepting digital yuan payments via its proprietary mobile wallet WeChat Pay, according to a local news report. China has been developing a digital yuan since 2014, and it has yet to be implemented nationwide. If people start paying for goods and services with WeChat, which has more than 1 billion users, it will give it a significant boost.

WeChat’s enormous user base and multitude of wrapped services have earned it the moniker of a “mega-app.” Users can use WeChat Pay to chat, pay bills, and order food or transportation. There are over 800 million monthly

Trending: Do You Remember What Joan Rivers Said About Obama Right Before She Dropped Dead?

Continue reading

You Might Like

 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend