Source: 21st century economic report
Transfer by mobile phone No.4
“Digital currency” is becoming more and more popular in China.
Several state-owned celebrities told the 21st century economic report that they are testing the application of digital wallet in Shenzhen and other places on a large scale, in preparation for the official implementation of digital currency.
Digital currency is led by the central bank, and banks have tested the landing scenarios in the past few months. At present, some internal employees of major banks have begun to use it for transfer, payment and other scenarios.
On August 3, the central bank’s video conference on the second half of 2020 pointed out that “the pilot project of legal digital currency closure was successfully launched” in the first half of 2020, and that the second half of the year would “actively and steadily promote the research and development of legal digital currency”.
Large scale testing begins
“Our bank is testing the” digital RMB “app on a large scale. The app can’t be downloaded publicly yet. There is an ID code after opening it. ” At the beginning of August, a person from a major state-owned bank told reporters that in recent days, the four major banks of industry, agriculture, China and construction have simultaneously tested the “digital RMB” E-wallet. Considering the system load and other reasons, it is still in the internal test stage.
“At present, the app is still being tested and has not been widely promoted, such as using the” digital RMB “app to transfer money.” Another big bank person said.
According to feedback from many banking industry insiders, the internal test of digital currency is mainly conducted in Shenzhen and other regions, which is basically consistent with the information released by the digital currency Research Institute of the people’s Bank of China.
On April 17 this year, the digital currency Research Institute of the Central Bank of China said that at the current stage, digital RMB will be tested in Shenzhen, Suzhou, xiong’an, Chengdu and the future Winter Olympic Games to continuously optimize and improve its functions. In addition, the current network DC / EP information is the test content in the process of technology research and development, which does not mean that the digital RMB is officially issued. The current closed test of digital RMB will not affect the commercial operation of listed companies, nor will it affect the RMB issuance and circulation system, financial market and social economy outside the test environment.
According to public information, Suzhou digital credit Experimental Zone, digital currency and financial science and technology innovation supervision three national strategic pilot projects were put forward in early July in Suzhou. Through the “smart business circle” service, promote the digital transformation of core blocks, integrate the application of digital currency, and improve the level of intelligent service. At the end of July, Hangzhou city also proposed to encourage enterprises to actively strive for and take the lead in the pilot settlement of the central bank’s digital currency in the process of accelerating the pilot project.
Which scenes can be landed?
What is the actual situation of “digital RMB” app? According to the people from the big banks mentioned above, to register the app, you need to open a digital wallet in one of the four major banks. The digital wallet is attached to each bank’s account, and users can recharge the money into the wallet. Recharge methods can choose online banking recharge, binding card recharge, etc. “The whole interface and operation logic of the” digital RMB “app is a bit similar to the cloud flash payment app of China UnionPay.”
“Cloud flash payment app” is a mobile payment product built by the central bank in coordination with commercial banks, China UnionPay and other parties, covering bus, subway, vegetable market, supermarket and other scenes. Cloud flash payment is a competitive relationship with WeChat, which has larger market share and Alipay. In March this year, the number of users was exceeded 240 million.
From the perspective of “digital currency” landing scenario, it can realize recharge, withdrawal, transfer, code scanning consumption, etc., of which the transfer can be carried out only by the mobile phone number of the other party, and no online transfer function is being tested. The payment logic is similar to the three party payment of WeChat and Alipay. Users can scan the two dimensional code to pay for each other.
A big bank person said that from the perspective of user experience, digital currency app transfer is very convenient. The pain point is that the offline consumption channels are very limited, and there are not many applications in consumption. You may have to use the consumption function several times before you can realize it.
Another person in the banking industry said that the landing scenario of digital currency is still limited, and tests such as paying party fees and labor union fees are being carried out within the organization in which they work.
Many industry insiders pointed out that the central bank’s digital currency is still in the stage of internal R & D and testing, and the central bank has been promoting R & D and scenario testing under the condition of high confidentiality. The internal R & D of major banks is generally undertaken by the head office’s network finance department, and there is no timetable for the specific launch.
The 21st century economic report previously reported that the Bank of China has determined several internal scenarios of pilot digital currency in a project called “321 project”. After many tests and preparations in the early stage, the internal pilot conditions are basically mature, and the payment has been made in the internal scenarios of the bank’s internal app pilot projects in Shenzhen and other places. These scenarios are internal application scenarios of BOC. No special e-wallet app has been developed, but embedded into existing app. There is no obvious difference between user transaction process and existing payment tools. That is, after binding bank card, users can recharge DC / EP e-wallet with bank card and complete payment through E-wallet.
(author: Xin Jizhao, editor: Ma Chunyuan)
Source: 21st century economic report