One day before the Dragon Boat Festival holiday, Shanghai’s first large-scale digital RMB red envelope event drew 350,000″koi” — 17%of the 2 million registered users won the lottery, and the digital red envelope of 55 yuan per capita was distributed to personal digital wallets for use Pay for consumption.

According to Shanghai’s announcement, during the validity period of the red envelope from 9:00 on June 11th to 24:00 on June 20th, successful signing users can visit pilot merchants in pilot cities such as Shanghai and Suzhou, as well as those already in the digital RMB app. The online platform with the push function of the sub-wallet in China provides no-threshold consumer payment.

Failure to open a digital renminbi account will not affect the winning, the first domestic online digital renminbi consumption zone focusing on offline scenarios,”seamless switching” of online and offline consumer payments… Shanghai digital renminbi multiple scenarios What are the different details in the payment and transaction links during the landing process?

During the Dragon Boat Festival holiday, a reporter from Brokerage China interviewed the successful users of the”Bank of Communications Digital Wallet” and”Internet Commercial Bank Digital Wallet” to understand the whole process of account opening and consumption (payment transaction).

The”early adopters” Shanghai digital RMB red envelopes

For the first time, Shanghai has rolled out digital RMB on a large scale through red envelope activities.

During the Dragon Boat Festival holiday, a reporter from Brokers China interviewed the successful users of”Bank of Communications Digital Wallet” and”Internet Commercial Bank Digital Wallet” to understand the whole process of account opening and consumption (payment transaction), and learned about Shanghai Digital What are the differences in the payment and transaction links of RMB in the process of landing in multiple scenarios?

The online consumption scene is very mature, and the public acceptance is very high.

The reporter learned from related parties that the first digital RMB consumption in Shanghai was generated at 9:01:47 on June 11th from a Meituan Bicycle orders, at that time, it was less than two minutes before the results of the digital RMB red envelopes announced during the May 5th Shopping Festival.

Meituan’s Shanghai company confirmed to reporters that within two hours of Shanghai’s announcement of the digital renminbi red envelope winning result, the number of orders paid in digital renminbi in the Shanghai region’s Meituan consumption scene increased over the same period last day. 25.5 times.

Mr. Ye won the lottery through Bank of Communications, and he can see on his mobile phone that he can push sub-wallets to cover merchants (that is, push digital RMB sub-wallets to these merchants, and you can pay at these merchants without password) Among them, there are Meituan APP, Didi Travel, Real Happiness (Gome online shopping mall), Eastern Airlines , Ctrip, Tianfutong (Chengdu Bus and Subway App), Bilibili, Suning.com , China Time-honored Brand, Shanrong Business (online mall promoted by CCB) and other apps.

It is not difficult to find that among the online APP merchants covered, there are merchants that have already appeared in digital RMB pilots in multiple cities in the early stage, as well as large Internet companies headquartered in Shanghai that have appeared for the first time.

In addition to online, there are also many Shanghai business districts offline. The reporter visited offline malls in many commercial districts such as Nanjing Road and Huaihai Middle Road during the holiday. Many merchants informed that the digital renminbi has been tested in the mall for some time. At present, the digital red envelope can not only be used without threshold, but also can be used in shopping malls. Overlay. Even if consumers have a demand for returns, they can operate smoothly.

The reporter learned from the relevant person in charge of Suning Tesco Shanghai, “Suning Shanghai area already has electrical appliances stores including Wujiaochang Store, Zhongshan Park Store, Pudong No. 1 Store, and More than 70 Suning Tesco stores, including Suning Xiaodian, participated in the digital RMB acceptance pilot.”

According to According to a person from the Shanghai Municipal Commission of Commerce, Nanjing Road and Huaihai Middle Road are currently-Xintiandi, Yuyuan, Xiaolujiazui, Xujiahui, the North Bund and the core area of ​​the Hongqiao International Open Hub and other key business district pilot merchants have completed the centralized transformation of digital RMB acceptance terminals, covering department stores, supermarkets, restaurants, hotels, tourist attractions, automatic vending, life services, Consumers’ livelihood areas such as home travel, theaters and theaters.

Broker China also reported that as early as May this year, China Construction Bank, Industrial and Commercial Bank of China, Agricultural Bank of China Shanghai Branch, and Bank of Communications launched digital RMB wallets for depositors at business outlets.

However, judging from the situation of winning the lottery this time, the reporter found that even if the digital renminbi wallet has not been opened before, it will not affect the user’s lottery.

For example, when Mr. Ye won the lottery this time, he obtained the redemption code and registered account for downloading the digital renminbi APP, and only obtained the digital renminbi wallet by downloading from the”Bank of Communications Shanghai Branch Cloud Bank”.

Shanghai’s”Digital RMB Five-Five Happy Purchase” red envelope activity is organized by Shanghai Headquarters of the People’s Bank of China /span>, hosted by the Shanghai Municipal Commission of Commerce and the Municipal Financial Supervision Bureau, distributed 350,000 digital RMB red envelopes to all the public whose mobile phones are located in Shanghai. According to data released by Shanghai, in the first large-scale digital RMB red envelope event in Shanghai, the number of valid applicants was 1,952,785, and the winning rate was 17.9%.

Financial technology companies intensively join the digital renminbi”circle of friends”

All the time, the six state-owned banks, as well as the newly-joined online commercial banks, have been highly regarded as the official operating institutions of digital renminbi. attention. However, with the popularization of digital renminbi, more and more financial technology companies and large Internet companies with perfect high-frequency scene consumption ecology have appeared.

This time, the user Ms. D who signed the online merchant bank’s Alipay-Internet merchant bank operates a digital RMB sub-wallet, and can directly spend it in offline shopping malls such as Huijin Department Store. Online, the reporter saw that this sub-wallet can cover Alibaba more conveniently in addition to the merchants mentioned above. Merchants such as Hema, Tmall, and Ele.me in the retail ecosystem.

However, judging from Ms. D’s success, the digital renminbi app currently supports digital renminbi sub-wallets of six major state-owned banks, while digital renminbi payments from online merchant banks can Called when Alipay scans the QR code to pay.

Brokerage China has previously reported that as a digital renminbi operating institution, a new change brought by the online merchant bank is that the digital renminbi also has a”display column” on Alipay.

On the Meituan APP, three high-frequency business scenarios in daily life of the people, including bicycles, grocery shopping, and catering, have been opened to support digital renminbi consumption. Compared with previous trials, this should be the first online digital renminbi consumption zone focusing on offline scenarios in China.

According to the reporter’s experience, local residents in Shanghai can search for “digital renminbi” in the search box on the homepage of the Meituan app, or click on “my-my wallet-digital renminbi” to enter the Meituan Digital In the RMB consumption zone, use digital RMB red envelopes to pay for a series of services such as cycling, grocery shopping, and catering, and enjoy the relevant discounts of the May 5th Shopping Festival.

This time, the Shanghai digital renminbi is expanded to the daily-use commercial super retail in the consumption scene, and even the high-frequency consumption scenes closest to the people’s life such as Meituan cycling, grocery shopping and catering are considered to be digital renminbi. In the process of gradually opening up all online and offline scenarios, it has continuously demonstrated its technical advantages in versatility and inclusiveness.

“Digital renminbi opens up the local life service platform ecology, can effectively increase the breadth and depth of digital renminbi pilots, accelerate the popularization and promotion of digital renminbi in public life, in line with the government’s focus on digital renminbi on the development of personal consumption The strategy of the author can also accumulate rich operating experience for the large-scale promotion of digital renminbi in small retail high-frequency business scenarios in the future.” A senior operator of a large Internet company in East China believes.

Central Bank Institute of Data Science:Digital RMB and third-party payment belong to two dimensions

The 13th Lujiazui Forum, Mu Changchun, Director of the Digital Currency Research Institute of the People’s Bank of China, introduced several types of digital RMB wallets according to different dimensions For example, it is divided into personal wallets and public wallets according to the main body of opening; soft wallets and hard wallets according to carriers; and parent wallets and sub-wallets according to the attribution of authority.

Among these, soft wallets include mobile payment apps and services provided by software development kits (SDKs); hard wallets include IC cards, wearable devices, and Internet of Things devices. Natural persons and individual industrial and commercial households can open personal wallets, and use classified transactions and balance limit management according to the strength of the corresponding customer identification; other legal persons and unincorporated institutions can open public wallets, and determine the transaction according to the counter or remote opening And balance limit, the wallet function can be customized according to user needs.

“Different combinations of wallets in various dimensions form a wallet matrix system for digital RMB. On this basis, the Digital Currency Research Institute and designated operating institutions jointly develop basic payment functional components and use smart contracts to achieve time conditions , Scene conditions, and role conditions trigger conditional payment functions.” Mu Changchun said that by building a digital renminbi wallet ecosystem, realizing digital renminbi online and offline full-scenario applications to meet user multi-subject, multi-level, multi-category, and multi-form differentiation demand.

At the same time, Mu Changchun reiterated that digital renminbi and third-party payment are two dimensions. Third-party payment as a carrier and as an infrastructure function has not changed, and it can still be used as a carrier of digital renminbi.

“Online business bank, Alipay, and WeBank jointly Tencent are all early Identified operating institutions. Among them, WeBank and Internet Commercial Bank provide digital renminbi exchange and circulation services. WeChat Pay and Alipay continue to assume the role of a wallet Financial infrastructure functions to participate in the process of digital renminbi circulation.” Mu Changchun said.

According to incomplete statistics from publicly available information, the reporter has so far launched digital renminbi pilot promotion activities in Shenzhen, Suzhou, Beijing, Chengdu, Changsha, Xiong’an New District, Shanghai and other cities, and has issued a total of digital renminbi. The amount of red envelopes has exceeded 290 million yuan.

In fact, it is not difficult to find that with the orderly expansion of the digital renminbi pilot program, local governments, banks, technology companies, and related institutions have made multiple efforts, and the application scenarios of digital renminbi have become mature and almost cover It covers many online and offline fields such as shopping consumption, living payment, catering services, transportation, government services and so on.

Ping An Securities research report judges that the promotion of digital RMB has an important strategy Therefore, in the long run, there will be long-term sustainable supporting policies to support the development of digital renminbi, and the popularization of digital renminbi will be promoted through a top-down approach. In the future, breakthroughs are expected to be made mainly from these aspects:

1) Some state-owned enterprises and state-owned enterprises will pay salaries through digital RMB. For example, the Jingdong group in Internet companies tried to pay in digital RMB, and distributed the first batch to some employees in pilot cities With digital renminbi wages, employees can deposit digital renminbi wages into their personal bank cards, or use them in pilot offline acceptance scenarios, and use them when purchasing self-operated products on the JD App.

2) Provide consumers with digital RMB subsidies in the form of red envelopes to guide users to try more.

3) Infiltrate digital renminbi in public livelihood scenarios, such as personal income tax payment, medical registration, water, electricity and coal payment, traffic confiscation, public transportation, public welfare donations, etc.

4) Encourage corporate taxation, and provide tax relief or preferential treatment for taxable activities involving the production and operation of digital renminbi.

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