Beijing pilots digital RMB payment on public transport
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E-mail China.org.cn, October 12, 2021
Beijing will launch a promotional activity to encourage the use of digital renminbi (RMB) when taking public transportation starting from today, according to the Beijing Local Financial Supervision and Administration.
Subway and bus passengers in Beijing can receive coupons from the Beijing Local Financial Supervision and Administration's official website and use them when paying fares with digital RMB. With the discounts, fares can be as low as 0.01 yuan.
Passengers can also enjoy digital RMB payment discounts by downloading the RuubyPay app. RuubyPay allows passengers to take the subway once for only 0.01 yuan when using digital RMB to pay.
Those who want to recoup the discounts must first register as a digital RMB business user via the Industrial and Commercial Bank of China and follow the subsequent steps. The digital RMB payment promotional activity is now available on Beijing's 24 rail transit lines and four suburban railways.
The pilot event is a test into the digital RMB's research and development with a purpose of further advancing the use of digital currency during the Beijing 2022 Olympic and Paralympic Winter Games. It also reflects the Beijing government's efforts to build the capital into a global digital economy benchmark city.
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