Once the app is linked to the SIM card, you can pay for purchases using NFC technology, using the module in the SIM card itself, not in the phone. That is, payments can be made even when the internet is switched off.
Right now, the pilot is only available to certain users – few Android smartphone models are supported, and payments are only accepted in a few provinces in the country.
Earlier, the digital yuan started to be accepted for fares on shuttle buses in Jinan city
James Whitfield is markets correspondent at BTCNews. He spent eight years on the equity desk at Bloomberg London before moving to digital assets in 2020, and now leads our daily coverage of spot prices, derivatives and ETF flows. James reads order books for breakfast and has been quoted in the Financial Times, CityAM and CoinDesk. He is a CFA Level III candidate and is based in the City of London.
