The Chinese messaging app WeChat now allows users to use the digital yuan. Users can now pay for goods and services using the digital yuan by using the quick payment feature.
WeChat was first made by the Chinese tech giant Tencent as a messaging app. Over time, it has changed into what it calls a “super app,” which is a single app that combines the features of a social network and an e-commerce platform. WeChat has more than 1.2 billion users every month.
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Some mini-apps of the WeChat messenger can pay for goods and services with digital yuan through the built-in payment system WeChat Pay. In the future, there will be more options. You can only send up to 2,000 yuan ($289) per transaction, and you can only send up to 5,000 yuan ($720) per day.
Authorities in China are currently testing the digital yuan in over 26 provinces and cities, with more than 5.6 million stores and businesses actively accepting it as a form of payment. By the end of December 2022, payments made with digital currency had reached 13.61 billion yuan, about $2 billion.
Alipay, owned by Alibaba, works with the digital yuan and lets users pay on platforms like AliExpress, Taobao, Shanghai Bus, Youbao, Tmall, and Hema.
