Several places in Guangzhou have recently been able to use digital yuan for payments, including Haizhu's trams, Guangzhou Friendship Store, and Guangdong Asia International Hotel, attracting many citizens.

China's central bank announced on April 2 that the digital fiat currency will be accessible in Tianjin and Chongqing municipalities, Guangzhou in South China's Guangdong province, Fuzhou and Xiamen in East China's Fujian province, as well as six cities in East China's Zhejiang province hosting the 2022 Asian Games.

The account registration process on the digital yuan app can be completed in Guangzhou. At present, Haizhu's trams support digital yuan payment. Open the digital yuan app, put the payment code close to the QR code scanning area of the Guangzhou tram, and complete the fare payment of 2 yuan ($32 cents) in one second. In the future, more places will accept digital yuan for payments.

China has released the new digital yuan app for iOS and Android on domestic app stores. At present, users can choose nine operating institutions, including Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, Postal Savings Bank of China, China Merchants Bank, MYbank (Alipay), and WeBank (WeChat Payment).

China's central bank has unveiled four specifications of digital wallets. The wallet with the highest level of anonymity that needs only a mobile phone number to activate it has a single payment limit of 2,000 yuan, a daily cumulative payment limit of 5,000 yuan, and a balance limit of 10,000 yuan. A wallet verified with an ID card and linked to a bank account will have a single payment limit of 50,000 yuan, a daily cumulative payment limit of 100,000 yuan, and a balance limit of 500,000 yuan.

After opening a personal digital wallet, users can recharge the wallet through bank card recharges and mobile banking transfers. To recharge money by bank card, users need to enter their ID information, complete facial recognition, and add their bank card number. If users make transfers through mobile banking, they can use their bank's app and the quick recharge page with the wallet number will pop up, enabling them to use it after entering the recharge amount.

Haizhu's trams support digital yuan payment. [Photo/WeChat account: gzhzfb]