Big state-owned lender Bank of China has entered a cooperative arrangement with Chinese payments provider Easy Pay (易生支付) to explore digital renminbi innovations in the aviation and travel sectors.
The two parties recently announced that they will select an initial group of “high-quality businesses” to engage in digital renminbi trial activities the are scheduled to commence in January.
Bank of China and Easy Pay have already completed systems integration and debugging, as well as successful testing of offline vendor point-of-service (POS) digital renminbi transaction processing.
Easy Pay said it hopes to use its experience as a payments provider for the aviation and travel sectors to work with other big banks and aviation companies to jointly explore solution plans for use of the digital renminbi during air travel.
“Following the gradual maturation of implementation conditions for the digital renminbi, Easy Pay will further participate in trial work for the digital renminbi in various locations, and help more businesses to optimise and upgrade their payments systems,” said an Easy Pay spokesperson. D