China set to launch e-CNY payments for public transport
China is making significant progress with its plans for a central bank digital currency (CBDC). The e-CNY is currently available in several Chinese cities. It can be accessed easily by citizens looking for an alternative way of paying for local buses and subways. China launches e-CNY payments for public transport Several local sources have confirmed that China has commenced the next phase of its CBDC pilot program. In Guangzhou city, it will be possible for people to pay for bus rises using the e-CNY on ten different transit routes. It is the first time that the country is doing this. To make these payments, passengers must download the e-CNT application, deposit funds , and scan the QR code on the bus payment section to make payments for the ride. Guangzhou is not the only city that is doing this. Ningbo also allows passengers to pay for bus rides at 125 stations using the CBDC. Ningbo is the ninth city in China that is rolling out pilot tests for the e-CNY. The Chinese go...