China’s digital currency: Meituan expands e-CNY payments to offline merchants ahead of Lunar New Year

  • The Beijing-based on-demand service giant has started support e-CNY payments in offline stores
  • The move will allow people to use the digital yuan in more day-to-day scenarios, says analyst

Meituan users can now pay for purchases at restaurants, grocery stores, cinemas and other offline stores using the digital yuan, the company said on Wednesday. Photo: AP Photo

China’s leading on-demand services provider Meituan on Wednesday began allowing more than 200 types of offline merchants – including restaurants, grocery stores, cinemas, and hotels – to accept payments in digital yuan, also known as e-CNY.

The move marks another major step by the Beijing-based company to promote the country’s digital fiat money after enabling e-CNY payments for online food deliveries earlier this month. Meituan also said it would give out discount vouchers to consumers who pay with e-CNY.

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