Digital Yuan Rolls Out for Use in Shenzhen Gas Stations

Digital Yuan Rolls Out for Use in Shenzhen Gas Stations

Gate Trade News Friday, October 16, 2020 26 0

Eleven gas stations in Chinese tech hub Shenzen are now accepting the digital yuan, China’s upcoming Central Bank Digital Currency (CBDC), days after citizens received over $1.5 million in the currency as part of an ongoing pilot, local news outlet Economic Information Daily reported.

 

The tests are being conducted by state agency Guangdong Petroleum, which launched the pilot on October 13 this week. To pay, citizens can scan a unique QR code available at the gas stations—similar to how commercial payment apps like Apple Pay work.

 

Feedback has been positive so far, with citizens noting the transaction experience is seamless and only “takes a few seconds” to complete. The payment facility is available for all services, from refueling to the purchase of any retail items at gas station kiosks.