December 11, 2023

China will allow foreigners to use credit cards to top up e-CNY wallets

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China will allow foreigners to use credit cards to top up e-CNY wallets

Chinese authorities added todigital yuan payment system feature for replenishing your wallet from third-party sources. The update will allow foreign citizens to deposit funds into their wallet from bank cards.

Digital currency platform operatorsThe Central Bank of China (CBDC) has upgraded its e-CNY payment service. The new functionality will allow tourists to top up their built-in wallet in digital yuan using the online services of the global payment networks Visa and MasterCard.

To do this, foreign citizens mustDownload the RMB digital wallet app to your mobile device, then create a personal wallet and load the digital RMB purchased with your international bank card into it.

Foreigners will be able to top up their wallet withvisiting local bank branches and depositing cash. If, at the end of their stay in China, there are unspent funds left on the balance of the e-CNY digital wallet, then tourists will be able to return the remaining funds to their foreign bank card or account through reverse conversion.

Previously, representatives of the People's Bank of China (PBOC) said that the digital yuan should be available as a payment option in all retail scenarios.