Sugar Tech giant Tencent has said that its WeChat ecosystem will let users create digital yuan Payment on applets and video channels.
The move will allow WeChat users to make payments through an in-app applet using the Chinese central bank digital currency (CNY).cbdc,
They will also be able to use the CBDC to make purchases on e-commerce platforms such as JD.com without leaving the WeChat ecosystem.
WeChat applets, or “mini programs”, are apps (often created by third parties) that integrate with the WeChat ecosystem.
This means that WeChat users can access them without leaving the WeChat app, or downloading and installing software on their mobile devices.
Users can search for the applet by name or by scanning a QR code in the WeChat interface.
They can also use WeChat Pay, the app’s e-payment platform, to complete the payment.
The first stage of WeChat Pay interoperability was completed early last year,
This allowed WeChat Pay users to choose digital yuan as a payment option when making in-store purchases.
What Does the Latest WeChat Integration Move Mean for the Digital Yuan?
In An official WeChat announcementThe company pointed out that users will now be able to link their digital yuan wallet to the app to complete payments related to applets and videos.
In the meantime, merchants will need to ensure they have the necessary software to accept digital CNY payments.
WeChat said accounts of “any digital yuan wallet operator” can be used to make payments.
This includes, the firm noted, its own neobanking arm WeBank.
wechat wrote:
“If you pay on WeChat, you can use digital yuan to transact with merchants that support [the coin] In scenarios involving video accounts and mini programs.”
The firm said that merchants offering “travel, catering and retail services” will be among the first to use the new payment options.
Several Chinese media outlets have claimed that the pace of the digital yuan pilot has “accelerated” this year.
Some 26 areas in 17 provinces (including several major cities) are now using the token.
Many of these regions have revealed detailed plans to promote the adoption of CBDCs.
Next month, the digital yuan will be used Pay public sector employees “100%” of their salary in Changshu City,
