Tencent’s WeChat A/B Tests E-CNY Mini Program
Chinese media outlet Mpaypass released a report on Wednesday showing that Tencent’s social app WeChat had launched a mini program called “Tencent e-CNY Wallet”, though the program is still in the process of A/B Testing. This is another move in the direction of broader adoption for the e-CNY in all pilot areas.
Users can now scan a QR code and pay for their purchase with e-CNY through WeChat. When scanned, the interface changes to the payment screen supported by the mini program. If users need, they can click on the button named homepage in the top left corner to return to the homepage of “Tencent e-CNY Wallet”.
Users still need to open the wallet function of WeBank in the e-CNY App before they can open the mini program. At present, this mini program has the necessary e-CNY functions such as scanning, money transfer, payment collection, and credit cards. Compared with WeChat Wallet, the functions of this mini program are much more broad-based.
The e-CNY is the digital version of the fiat currency issued by the People’s Bank of China (PBOC) and operated by authorized outlets. It is a value-based, quasi-account-based hybrid payment instrument with both a legal tender status and a loosely-coupled account link.
At the beginning of April, the third batch of e-CNY pilot cities were announced including Beijing and Zhangjiakou, Tianjin, Chongqing, Guangzhou, Fuzhou and Xiamen, as well as six cities that held the 19th Asian Games were listed as new e-CNY pilot areas. At the same time, WeChat announced that it will support e-CNY in all pilot areas. After users open the e-CNY wallet of WeBank using their real name, they can pay by the e-CNY App or WeChat.
SEE ALSO: China Expands Scope of e-CNY Pilot