![]() Only merchants that accept e-CNY will be taking payments in the central bank digital currency, according to WeChat’s announcement. ![]() The program can be used by owners of iPhones, as well as smartphones with Android operating systems, owners of PCs, and laptops. Today’s update is an expansion of the e-CNY payments option that WeChat already supports since early last year. Updated: WeChat Logo PNG WeChat is an application for text and voice information, developed almost 6 years ago. Clearly, that sea of microtransactions are potential targets of the digital yuan. In China, mobile digital payment systems have already seen widespread adoption, thanks to the early development of Alipay (launched in 2004) and WeChat pay (. In 2022, WeChat mini apps generated several trillion RMB ($1 = RMB6.9) of transaction value, according to Tencent. It comes with its own payments system, WeChat Pay supports millions of third-party lite apps, making it a rival to the App Store has a short video network that competes with Douyin, TikTok’s Chinese version, for eyeball time and has a host of other features that can easily be standalone apps - but Asia loves super apps. The animation is launched every time a user send the keyword Nike to a friend or in a group chat. Nike has collaborated with WeChat to create a rain of customized new year stickers displaying Nike logo, as soon as you type 'Nike' in a chat. ![]() The bank has a designated app for e-CNY that crossed 261 million individual users in early 2022, but it’s also enlisting help from the private sector to take its official digital money to a broader user base.Ĭhina’s biggest messenger WeChat said Wednesday that it’s extended the use of e-CNY payments to transactions happening through its short video and mini-app platforms, which together cover merchants from small influencers to brands touting products on WeChat.įor those unfamiliar with WeChat, the Tencent-owned messenger is a sprawling empire that far exceeds what WhatsApp or Messenger can do. Nike- WeChat Chinese New Year Campaign - Case Study. The annual verification fee is currently 120 USD (as opposed to 300 RMB. For the last few years, China’s central bank has been trying to ramp up the adoption of digital yuan, or e-CNY, which forms part of the country’s monetary base, M0. In March this year, Tencent announced that WeChat hit 1 billion monthly active.
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