Commoney Wise
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
  • Login
  • Register

  Breaking
Coinbase Insider Trading Scandal Rocks Crypto Community – Former Employee Pleads Guilty February 8, 2023
Maersk forecasts plunge in profits as container shipping boom ends February 8, 2023
TotalEnergies lifts dividend and plans buybacks as profits hit record February 8, 2023
Bigger utilities to benefit most from Biden’s clean-energy fund February 8, 2023
Bitcoin bulls stumble at $23.4K as Fed’s ‘disinflation’ sparks BTC price rally February 8, 2023
Next
Prev

en English
en Englishes Españolde Deutschfr Françaisit Italianopt Portuguêsru Русскийzh-CN 简体中文hi हिन्दीja 日本語
Casino
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos
No Result
View All Result
Commoney Wise
Casino
  • News
  • Politics
  • Business
  • Economy
  • Finance
  • Investing
  • Markets
  • Crypto
  • Tech
  • Videos
Home Crypto

Alibaba’s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions

Staff by Staff
December 13, 2022
in Crypto
0 0
A A
0

An affiliate of the Chinese tech giant Alibaba has claimed that it will allow customers to pay with the digital yuan on its Taobao e-commerce platform, in addition to the market-leading Alipay e-payments platform.

Per Sina Technology, the announcement was made by Li Chen, Chief Compliance Officer of the Ant Group – Alibaba’s fintech arm. Ant operates Alipay and Alibaba’s online banking arms. Li Chen was quoted as telling attendees at a digital trade forum in Zhejiang:

“Alipay has joined the digital yuan acceptance network. It is the first payment platform to support the digital yuan.”

Li Chen added that a digital yuan wallet “fast payment function” had been launched in Taobao – allowing customers to use digital yuan holdings at checkout.

The official added that a slew of digital yuan-related services would be “launched in batches” in the weeks and months ahead.

The new Alipay link means that digital yuan holders in the pilot zone can also use their coins to pay for goods and services on Alibaba subsidiaries, such as Tmall-Mart, the tech giant’s “smart” online supermarket, the Hema chain of grocery stores, and its Ele.me food delivery network.

The media outlet added that Alipay and Taobao app users could get started with digital CNY pay right away – by simply updating their apps. At checkout, they can find prompts that lead them to digital yuan wallet payment options.

Alipay officials also added that users could search for a new “paying with the digital yuan” section in the Alipay app to “learn how to use” the coin.

Why Does it Matter if Alipay & Taotao Embrace the Digital Yuan?

Taobao is China’s answer to Amazon and is arguably its most popular e-commerce website, alongside JD.com. The latter has been exceptionally active in the digital CNY sphere, and has pioneered a range of giveaways in pilot zone areas.

Alipay and its closest rival WeChat Pay have dominated the Chinese e-payments market in recent years – and have cornered some 15% of the total national payments market. WeChat Pay is the brainchild of the tech titan Tencent.

The government has repeatedly claimed that the digital yuan is not being positioned as an Alipay/WeChat Pay rival, although some believe that Beijing is planning to break up the tech giants’ duopoly.

WeChat Pay added digital yuan interoperability functions earlier this year.

Read the full article here

ShareTweetSharePinShareSendShare
https://www.madmoneycasino.com/?faff=667&sub=DemCasino

Related Articles

Crypto

Coinbase Insider Trading Scandal Rocks Crypto Community – Former Employee Pleads Guilty

February 8, 2023
Crypto

Bitcoin bulls stumble at $23.4K as Fed’s ‘disinflation’ sparks BTC price rally

February 8, 2023
Crypto

Fantom (FTM), Polygon (MATIC), and Orbeon Protocol (ORBN) Post Massive Gains

February 8, 2023
Crypto

DCG offloads Grayscale shares to raise capital: Report

February 8, 2023
Crypto

Bitcoin and Ethereum Price Prediction: BTC & ETH Are On The Rise, Where Will They Go Next?

February 8, 2023
Crypto

South Korean officials traveled to Serbia to find Do Kwon

February 8, 2023
Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Commoney Wise

Commoney Wise is your one stop news website for the latest finance, business and crypto news, follow us to get the news that matters to your minute by minute.

Our Other Brands Kronosslott, Commoneywise, Demcasino.de, SportsExtremes.tv, Slotgamesusawwr, Coin Desk Times, Kingsofgolf.be

Topics

Business Commodities Crypto Economy Finance Forex Futures Investing Markets News Politics Stocks Tech Videos

Get Informed

The most important world news and events of the day

Be the first to know latest important news & events directly to your inbox.

By signing up, I agree to our TOS and Privacy Policy.

  • Privacy
  • Terms
  • Press
  • Advertise
  • Contact

© 2022 Commoney Wise. All Rights Reserved.

No Result
View All Result
  • News
  • Politics
  • Business
  • Finance
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Futures
    • Forex
  • Crypto
  • Price Index
    • Stocks
    • Cryptocurrency
    • Commodities
    • Forex
  • Videos

© 2022 Commoney Wise. All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.