JD.com Introduces Third-party Merchants to Digital RMB System

e-cny
(Source: Ledger Insights)

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On Friday, Chinese telecom giant JD.com announced the implementation of third-party access to the digital RMB system on its platform. The move follows the current push towards the government-backed deployment of the e-CNY by tech giants such as Tencent and Meituan.

As a technology provider of the digital RMB, JDT, a subsidiary of JD.com, has connected its service interfaces regarding digital currency research with those of the People’s Bank of China and six other operating institutions.

At present, JD.com‘s cash collection products, both online and offline payment systems, have access to the digital RMB. A substantial portion of offline merchants with a presence on JD.com‘s payment platform have also launched the digital RMB service.

One person in charge of JD.com‘s e-CNY rollout talked about the deployment, saying: “We integrated the digital RMB wallet function from our partner, the Bank of Communications, with our existing settlement system. In the future, we will continuously monitor the security, stability and compliance of the integrated system.”

According to JD.com, from December 2020 to December 31, 2021, more than 2 million digital RMB sub-wallets have been launched on its App, while more than 1 million users have used the service to complete over 3 million transactions, with a cumulative consumption amount exceeding 200 million yuan.

Since the “e-CNY (Pilot) App” was launched on major web application stores, WeChat and Meituan have since announced their access to the digital RMB service.

SEE ALSO: Meituan Waimai Opens Digital RMB Payment Channel