The bank intends to empower clients to make telephone installments by coordinating its e-CNY application with particular "super SIM cards" that have close field correspondence capacities. One of China's largest state-owned banks, Bank of China, is currently testing an innovative SIM-card-based offline payment system. This method of payment was made especially for the digital yuan, also known as the e-CNY, which is China's central bank digital currency (CBDC) currently being tested. This declaration was made by the bank on Monday in a virtual entertainment post, uncovering their organization with telecom administrators China Telecom and China Unicom and their aim to begin testing on Tuesday.

By incorporating specialized "super SIM cards" with capabilities for near-field communication into its e-CNY app, the bank intends to make it possible for customers to make phone payments. To pay, customers need only bring their mobile phones close to the point-of-sale terminals, so they don't have to turn them on.
<h2>In Chinese city of Guanzhou, e-CNY can be used on public buses</h2>
Transactions can be <a href="https://mp.weixin.qq.com/s/Il2p2rKE116xMh97Ml0wQg" target="_blank" rel="nofollow noopener">processed</a> even when the phone is off thanks to this integration. However, according to the bank, these SIM card payment features will only be available on specific Android phones in a small number of China test areas. A trial version of an e-CNY app was released by the People's Bank of China (PBOC), the nation's central bank, in January of last year.

The digital yuan CBDC can now be used to pay for 10 transit routes on public buses in the Chinese city of Guanzhou, a first for the nation. To pay for their ride, passengers simply need to download the e-CNY app, deposit money, and scan the QR code in the bus payment section. In the meantime, Hong Kong in May sent off an e-HKD experimental run program after the Hong Kong Monetary Authority (HKMA) delivered a whitepaper in October 2021 on a potential retail CBDC. In a consultation paper published in September, the de facto central bank of Hong Kong, the HKMA, stated that it would investigate the possibility of e-CNY and e-HKD cross-border payments.

Trials Of Offline Digital Yuan Payments Via Sim Cards Conducted By The Bank Of China

The digital yuan CBDC can now be used to pay for 10 transit routes on public buses in the Chinese city of Guanzhou.

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Trials Of Offline Digital Yuan Payments Via Sim Cards Conducted By The Bank Of China

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