The city of Jinan has implemented digital yuan payments across all its bus routes, encouraging the adoption of the CBDC and taking a significant step towards digitalization.
Local media reports indicate that the city has updated all its card readers and bus route software to accept digital yuan payments. What’s more, passengers who opt for this payment method receive fare discounts, further incentivizing CBDC use.
Thus, to promote adoption of the new payment method, for a limited time passengers opting to use the digital currency will pay just 0.01 yuan per ticket for rides priced at up to 2 yuan and 1.99 yuan for fares costing more than 2 yuan, according to NFCWord.
This move is part of China’s broader strategy to promote the digital yuan adoption, which includes paying civil servant salaries in CBDC and implementing CBDC for its Belt and Road initiative and cross-border trades.
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