Credit: 123rf
The People’s Bank of China recently launched a “digital yuan visual hard wallet” at the 18th Shenzhen International Financial Expo. The 1mm-thick card resembles a conventional credit card but features a screen that displays dynamic QR codes, transaction details, and balances. The wallet is aimed at seniors, students, and foreign visitors in China, with the PBOC hoping that it will expand accessibility to the digital currency.
First piloted in 2021, the digital yuan hard wallet has since integrated with HarmonyOS (a distributed operating system developed by Huawei), enabling access without a dedicated app. Merchants can accept payments through a simple scan, requiring no extra equipment beyond a smartphone.
The wallet can be quickly issued at digital yuan self-service terminals in locations such as border checkpoints, airports, and high-speed rail stations throughout Shenzhen, and supports recharges in cash (in both Chinese yuan and foreign currencies) as well as via VISA and Mastercard. [Global Times, IThome, in Chinese]
