Finance

PBoC launches offline CBDC payments – Central Banking

Users of the e-yuan, China’s central bank digital currency (CBDC), can now conduct offline payments, without internet or battery power.

The “Tap to Pay” function is currently available on Android phones. Users can select how many times the offline function can be used and select how much can be paid out after a phone shuts down. State media outlet Yicai Global reported the update on January 11.

To cut the risk of theft, a verification code is required for payments exceeding the preset quota

 

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