Original title: Digital RMB application scenarios are increasingly rich - receive digital RMB salary
At the 6th Digital China Construction Achievements Exhibition, visitors experienced digital RMB consumption. Photo by Chen Bin (People's Vision)
Digital RMB has a new application scenario! Changshu City, Jiangsu Province, has implemented full-scale digital RMB payment of salaries to civil servants (including public service personnel), public institution personnel, and personnel of state-owned units at all levels since May. This is the first application scenario of digital RMB full salary payment for civil servants in administrative organs in China.
From red envelopes to salaries, the promotion of digital RMB has reached a new level. At present, the pilot scenarios of digital RMB take into account both online and offline, covering wholesale and retail, catering, cultural tourism, education and medical care, public transportation, government affairs payment, tax collection, subsidy issuance and other fields. WeChat Channels and Mini Programs have been able to use digital RMB for payment since April 26.
The application scenarios are further expanded
How to pay wages in digital yuan?
According to reports, digital wallets are divided into personal wallets and corporate wallets according to the opening entity. Natural persons and individual businesses can open personal wallets; Legal persons and unincorporated institutions can open corporate wallets. To use digital RMB to pay salaries, enterprises first need to collect the digital wallet numbers of employees, and then transfer the digital RMB in the digital wallet of the unit to the employees' personal digital wallets. Employees open their personal wallets and see the new digital yuan, and they know that their wages have arrived.
Can I withdraw money for free?
The reporter learned that there is no handling fee for transferring the digital yuan in the digital wallet to the bank card, and it can be "received in seconds". Users can redeem digital RMB to their personal wallet through the linked bank account, or exchange digital RMB from the personal wallet back to the bound bank account. On the digital yuan app, you can also adjust the quota of "transfer money" and "consumption".
What is the experience of receiving a digital yuan salary?
"It's quite convenient!" Mr. Zhang, a citizen of Changshu, said that the digital yuan app is easy to use, and after using it a few times, he is completely adaptable. "In Changshu, there are many places where the digital yuan can be used. You can use the subway, ride a shared bicycle, pay for living, and pay for supermarkets. ”
Suzhou, part of Changshu, is one of the first pilot cities for digital RMB. Prior to this, Xiangcheng District of Suzhou City, Taicang City and other places have implemented the digital yuan distribution of some wages and transportation subsidies from the government, public institutions and state-owned enterprises. From January to March this year, Suzhou's digital RMB pilot project had a total of 8.098 million transactions, with a cumulative transaction amount of 170.467 billion yuan; the number of personal and corporate wallets increased steadily, with a total of 26.916 million personal wallets opened and 1.7936 million corporate wallets opened in the city.
Dong Ximiao, chief researcher of CMF Finance, told this reporter that Changshu pays salaries in the form of digital RMB to public employees, from point to face, and will continue to expand the application scenarios of digital RMB and optimize the pilot environment of digital RMB, which will help change public concepts, cultivate usage habits, and further promote the application and promotion of digital RMB.
Since the pilot work of digital RMB was launched in People's Bank of China, each pilot region has actively explored new application scenarios. At present, the offline consumption scenarios of digital RMB are gradually enriched, initially covering retail consumption scenarios such as clothing, food, housing and transportation, and showing broad application prospects in many fields such as wage payment, financial subsidies, and loan issuance, and cross-border payment applications are also actively expanding. Statistics show that 26 regions in 17 provinces (cities) across the country have taken the lead in carrying out digital yuan pilots.
Safe and convenient
What are the benefits of using digital yuan to pay salaries?
Digital RMB has the advantages of both physical RMB and electronic payment tools, not only has the characteristics of "payment is settlement" and anonymity of physical RMB, but also has the characteristics of low cost, strong portability, high efficiency and not easy to forge of electronic payment tools.
In terms of security, the digital yuan adopts a two-tier operation system. People's Bank of China does not issue and exchange directly to the public, but first converts the digital yuan to designated operating institutions, which then exchange to the public, and the operating institutions need to pay 100% of the reserve to the People's Bank of China, 1:1 for exchange. The digital yuan takes risk prevention as an important prerequisite, effectively prevents it from being used for telecommunications fraud, online gambling, money laundering, tax evasion and other illegal and criminal activities, and ensures that relevant transactions comply with anti-money laundering, anti-terrorist financing and other requirements.
In terms of privacy, the digital yuan follows the principle of "controllable anonymity", attaches great importance to the protection of personal information and privacy, and meets the public's demand for small-scale anonymous payment services. When using digital yuan, you can name your wallet nickname. In daily payment use, the two parties to the transaction cannot see each other's personal information, but only the wallet nickname, which is equivalent to using a "screen name" to conduct transactions, ensuring privacy and security.
For the public, the controllable and anonymous nature of the digital yuan can provide the public with a better experience and more secure payment services, and can prevent risks on the basis of fully respecting privacy and protecting personal information to prevent it from being used by criminals. For enterprises, in the past, corporate transfers had to go through bank-to-business windows or online banking, but digital RMB payment is settled and received in real time, no longer limited by working hours, reducing corporate capital costs, improving corporate settlement and capital turnover efficiency, and continuously helping enterprises reduce costs and increase efficiency in the supply chain.
In addition, the digital yuan is based on a broad account system and supports loose coupling of bank accounts, which means that even if users do not have a bank account, they can still use identity identifiers such as mobile phone numbers to open digital wallets and make payments. In this way, people in some remote areas can directly enjoy financial services such as payments through digital wallets.
"The digital yuan has irreplaceable explicit and implicit value." Dong Ximiao analyzed that from the perspective of explicit value, the digital yuan will be used as a "new infrastructure" in China's digital economy era, providing digital currency with stable currency value and unlimited legal compensation, enhancing the fairness and inclusiveness of the currency and payment system, maintaining financial stability and preventing financial risks. From the perspective of hidden value, the digital yuan can better protect user privacy and information security, and better enhance the image and status of the renminbi. The digital yuan is of great significance in facilitating people's livelihood, reducing transaction costs, and improving economic efficiency, and can also allow enterprises and the public to enjoy more financial development dividends.
Increase public acceptance
In recent years, a number of pilot areas have intensively distributed digital RMB consumption red envelopes, giving consumers "real money", driving the vitality of the consumer market and making the public no longer unfamiliar with digital RMB.
As various places test the waters to pay wages with digital yuan, digital yuan is more deeply integrated into the daily life of the public.
"For electronic money and payment tools, the richness of scenarios often affects user choice and experience, and only a perfect ecosystem and rich application scenarios can make the digital yuan ubiquitous and accessible, thereby attracting more people to use it." Dong Ximiao said.
How to further enhance public acceptance of the digital yuan?
Pilot areas should play a pioneering role. At present, the pilot of digital RMB in Shenzhen, Suzhou and other cities is relatively in-depth and has rich application scenarios. Dong Ximiao suggested that local governments in other pilot areas should carry out more active promotion activities, use the pilot as an opportunity to build a better monetary and financial environment, and promote the development of regional economy and digital finance. Public services of the government and relevant entities should actively support the use of digital yuan.
Further lower the threshold for public access to financial services. Experts suggest that as a public good, digital RMB is aimed at people with disabilities and users who are not familiar with electronic products, and launches digital RMB APP and specialized hardware products with optimized and adapted functions, which is conducive to bridging the digital divide and allowing the public to better enjoy fair and inclusive modern financial services.
Continuously enrich application scenarios with the power of the platform. The reporter learned that WeChat has opened the exclusive entrance of digital yuan to all pilot areas. Li Maocai, general manager of Tencent's digital currency department, once said that other Tencent APP scenarios are also gradually accessing digital yuan payment, including Tencent Video, QQ Music, etc. have supported digital yuan. Tencent is initially exploring how to use digital yuan smart contract technology to provide preferential credit or payment settlement solutions for supply chain enterprises.
"The development of electronic payment in mainland China and the variety of various payment tools have laid a good foundation for the pilot application of digital RMB, on the other hand, it takes time for the public to change their payment habits." Dong Ximiao said that in some places, the public does not know enough about the digital yuan, and there are even misunderstandings, resulting in the poor application of the digital yuan pilot. Financial management departments, financial institutions and local governments should adopt various forms of means to publicize and popularize the knowledge of digital RMB to the whole society, highlight the unique value and legal compensation of digital RMB, and let the public have a more comprehensive understanding and then actively choose digital RMB.
People's Bank of China said that it will continue to carry out innovative applications of digital yuan, realize the interconnection of the digital yuan system and traditional electronic payment tools, so that consumers can "scan through one code", and also try to allow merchants to support various payment tools without increasing costs. (Reporter Xu Peiyu)
Source: People's Daily Overseas Edition