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This will open up another screen where you can tap in the amount you would like to send, hit transfer and another pop-up will appear prompting you to enter your PIN.Įnter that and the money is immediately sent to the other person. If you want to transfer to a contact, simply open your chat with them, press the + symbol in the bottom right-hand corner and then select “transfer” from the options. Once you have linked a card to your WeChat, you can now easily transfer money to anyone else with a WeChat wallet. Everything is automatic and you will soon love leaving your house without a single bit of tangible money.

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Try not to stare the first time you see an old granny flashing her QR code to pay! You are more likely to get a confused look if you try to hand a Beijing cab driver cash these days than if you just hop out and walk away, letting your WeChat integrated payment system complete the interaction using the WeChat built-in car booking app of Didi. Electronic payments are the preferred form of payment in China and everyone uses them. WeChat is the epicenter of daily services you need for a convenient life in China.

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Knowing these features and how to use them will make your life in China considerably easier.

It encompasses all aspects of social media as well as many mini programs for everything from financial services, daily services, travel, transportation, shopping, and entertainment.

You will have to change your profile to your Chinese number that is linked to your bank account when you arrive in China and set up your phone with your new SIM card.

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To be able to unlock all the features you will need to download it after you arrive in China and can link your Chinese bank account but you can also get a feel for it by downloading it to your foreign number, as Wechat can be used internationally but with limited features. Robert Greene, a former senior adviser to the US Department of Treasury, published an article last July that said one potential function of the e-CNY was to skirt US financial sanctions.”Īs the technological and regulatory issues continue to evolve, China appears set to maintain its deliberate rollout of new features and geographic expansion for e-CNY, including an upcoming launch in Hong Kong that could offer a window into the concerns regarding financial sanctions.As other popular messaging apps like WhatsApp, Messenger, Facebook, and Telegram are all banned in China, make sure that your friends and family back at home also download WeChat so you can stay in touch easily and without the need for a VPN. “China’s sovereign digital currency roll-out, however, has raised suspicion about Beijing’s intent. The sheer scale of opportunity in China and the scaled rollout of e-CNY may provide a blueprint for other countries who have yet to develop firm plans for central bank supported digital currency, but the move to digital currency could develop regulatory hurdles, especially cross-border. The mobile payments platform, part of multipurpose super app WeChat, had about 900 million users at the end of December.” WeChat Pay, operated by Tencent Holdings, last month set up a similar e-CNY wallet function on its app, about three months after it adopted digital yuan as a payment option. By opening an account using the same phone number associated with Alipay, users can make purchases with e-CNY on the app.

“Alipay, operated by financial technology giant Ant Group, announced on Thursday that its app has added a button that enables users to search for and download the official e-CNY wallet within its platform. Coco Feng reports on the expanding e-CNY program in China and new uses with super apps Alipay and WeChat: Recent trends in China highlight the convergence of digital currency and super apps in potential public/private partnerships. In addition, the e-CNY wallet is more secure than carrying around cash, as it uses encryption to protect your personal information. For example, you can use the e-CNY wallet to make purchases online or in person, without having to carry around cash or coins. The e-CNY wallet is convenient and easy to use, and it offers a number of advantages over traditional methods of payment. With this wallet, you can load money onto your phone or electronic device and use it to make purchases anywhere that accepts electronic payments. The e-CNY wallet is a new way to store and use Chinese Yuan.

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