SOURCE / ECONOMY
DC/EP, or digital yuan, is adopted by China's Shunfeng Express
Published: Mar 30, 2021 06:22 PM
A deliveryman of Shunfeng Express sorts parcels on Monday. Photo: cnsphoto

A deliveryman of Shunfeng Express sorts parcels on Monday. Photo: cnsphoto



Shunfeng Express, one of China's most valuable express delivery businesses, has adopted China's central bank-backed digital currency, Digital Currency Electronic Payment (DC/EP), National Business Daily (NBD) reported on Tuesday.

Shunfeng was found under the sub-wallet page in the digital yuan app, meaning that users now can pay on delivery service using digital yuan, according to NBD, noting that orders paid by digital yuan will be classified as automatic deduction through a password-free payment scheme. 

Six of China's state-owned banks have begun accepting public applications to open digital yuan wallets in March, after the country initiated large-scale trial tests for the digital yuan since October 2020, which covered various scenarios including physical retailing and transportation fares, online shopping on platforms such as JD.com, Meituan Dianping, and Didi Chuxing and has now expanded into the delivery services.   

Global Times


blog comments powered by Disqus