{"id":1897870,"date":"2023-01-13T09:33:00","date_gmt":"2023-01-13T14:33:00","guid":{"rendered":"https:\/\/wordpress-1016567-4521551.cloudwaysapps.com\/plato-data\/chinas-e-cny-app-launches-offline-payments\/"},"modified":"2023-01-13T09:33:00","modified_gmt":"2023-01-13T14:33:00","slug":"chinas-e-cny-app-launches-offline-payments","status":"publish","type":"station","link":"https:\/\/platodata.io\/plato-data\/chinas-e-cny-app-launches-offline-payments\/","title":{"rendered":"China\u2019s e-CNY app launches offline payments"},"content":{"rendered":"
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China\u2019s digital yuan app has released a function which allows payments to be made from mobile phones while offline and without any battery left on the device. <\/p>\n

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The digital Yuan wallet was launched early 2022<\/a>, and as of June last year was downloaded by 261 million<\/a> individuals.<\/p>\n

According to Yicai Global<\/a>, the \u2018Tap to pay\u2019 function allowed for payments to be completed even when phones are turned off. It allows the app to activate smartphone hardware, such as near-field communication (NFC), which in effect turns the phone into a hard wallet. Users can choose to activate the function on the app, and can chose up a payment limit, up to 500 RMB, and a transaction limit, up to 10 payments.<\/p>\n

The function is only available for androids in limited geographies and payment scenarios at this time.<\/p>\n

While eyebrows may be raised over the security of this function in cases of a lost or stolen phone, it is reported<\/a> that a verification code must be entered into the device if set payment and transaction limits are exceeded. Additionally, users can suspend the function by logging into the e-yuan app from another device.<\/p>\n<\/div>\n