Protest Service Trade Fair: Use digital RMB hardware wallet to buy blind stamp boxes and Winter Olympics mascots

The theme of the Service Trade Fair in 2021 is “Digital Opens Future Services to Promote Development”. In the financial service exhibition, the digital renminbi is the most popular. Industrial and Commercial Bank of China, Bank of China and Postal Savings Bank of China exhibited digital renminbi hardware wallets. On the digital renminbi avenue, you can experience digital renminbi payment on the spot.

Hardware wallet will support “dual offline” payment

The Shougang Park has a unique industrial heritage, combined with Olympic elements, making the service trade fair complex unique. After entering the Northwest Landing Hall of the Shougang Park exhibition area, the first two exhibition halls that caught the audience’s eyes were the financial service exhibition halls, and the digital RMB avenue was between the two exhibition halls.

The reporter of “China Economic Weekly” saw that in the financial exhibition hall, the digital renminbi was introduced in a prominent position in the exhibition areas of large banks such as Industrial and Commercial Bank of China, Bank of China, and Postal Savings Bank.

The central bank introduced in the “White Paper on China’s Digital Renminbi Research and Development Progress” that, like the physical renminbi, the digital renminbi is a digital form of legal tender and is the asset with the highest security level.

At the booth of Bank of China, a set of digital RMB hardware wallets came into view, including paper chip wallets, glove wallets, bracelet wallets, smart watch wallets, smart e-card wallets, and visual chip wallets.

According to Tao Hong, a staff member of Bank of China, in the future, these digital renminbi hardware wallets will be able to realize payment functions. For example, the paper chip wallet supports small amount of password-free payment, which can be used in receiving terminals that support digital renminbi.

Protest Service Trade Fair: Use digital RMB hardware wallet to buy blind stamp boxes and Winter Olympics mascots

Photography: Xiao Yi, chief photographer of China Economic Weekly

Foreign currency can also be directly exchanged into a digital RMB hardware wallet. There is a foreign currency exchange machine in the Bank of China exhibition area. According to Tao Hong, users with ID cards or passports can use 17 mainstream foreign currency cash such as Euro, British Pound and Japanese Yen without registering and binding a bank account. The equivalent value can be exchanged according to the real-time exchange rate announced by the Bank of China. Digital RMB visual chip wallet. “It is very convenient for people without bank accounts, especially those who come to China from abroad.”

Chen Xuan of Industrial and Commercial Bank of China introduced to reporters that what they displayed in this exhibition is a digital RMB personal hardware wallet (hereinafter referred to as “hardware wallet”). Recharge your wallet.

Chen Xuan gave a demonstration using hotel consumption as an example. When a customer needs to pay for a meal, the hardware wallet is placed on the merchant’s acquiring device that supports digital renminbi, and the visual screen of the hardware wallet displays the amount to be paid. The customer confirms that the amount is correct, confirms with the payment password, and completes the payment.

Merchants and customers can also complete collection and payment offline. Chen Xuan demonstrated the scene of taking a taxi to pay. When arriving at the passenger’s destination, the taxi meter shows the fare payable. The passenger puts the hardware wallet on the meter, and the visual screen of the hardware wallet displays the payable fare. After the passenger enters the payment password for confirmation, the fare payment is completed.

Chen Xuan introduced that this hardware wallet satisfies the daily micropayment needs and is anonymous, and it is difficult for merchants to make portraits of customers.

For practical use, the reporter installed a digital renminbi wallet on the ICBC APP with his mobile phone. The installation process includes mobile phone SMS confirmation, facial confirmation, and payment password setting. The reporter filled the digital renminbi wallet with change to prepare for the actual experience of digital renminbi consumption.

In the exhibition area of ​​Postal Savings Bank, the staff led the reporter to the consumer experience area, “If it is easy to use or not, you will know if you use it.”

Experience digital renminbi consumption

On the digital renminbi avenue in the exhibition area, you can experience consumption with digital renminbi.

The line for buying digital renminbi blind boxes is relatively long, and reporters from China Economic Weekly lined up to experience it. In this experience activity, the audience can purchase a digital RMB blind box or personalized phonograph postcard with 1 yuan of digital RMB.

Since it is a digital renminbi, the payment level is the highest. There is a digital renminbi wallet in the ICBC APP on the reporter’s mobile phone. Can it be used for payment at the Postal Savings Bank?

The staff of the Postal Savings Bank replied in the affirmative, “Yes.”

Protest Service Trade Fair: Use digital RMB hardware wallet to buy blind stamp boxes and Winter Olympics mascots

The reporter selected the digital renminbi blind box, clicked the “Scan” function on the digital renminbi page, scanned the QR code of the digital renminbi blind box, and the phone popped up an inquiry about the payment of 1 yuan for the purchase. The reporter confirmed and entered the payment password. , Complete the purchase. The entire process is quick and easy to operate.

The reporter opened the digital RMB blind box, which contained a set of “Spring, Summer, Autumn and Winter” stamps. Seeing that the reporter was buying a stamp, the staff of the Postal Savings Bank presented a first day cover.

This first day cover is quite meaningful. The postmark date of the first day cover is “2021.09.02”, and September 2 is the first day of the official start of the current service trade fair. The mailing address of the first day cover is “Beijing 2022 Winter Olympics-Competition Venue-Shougang Ski Jump”. During the 2022 Beijing Winter Olympics, Shougang Ski Jump will undertake the snowboard and freestyle ski jump projects.

Would it be that simple to pay elsewhere?

The reporter from China Economic Weekly came to the shopping area of ​​Bank of China again, still hoping to use the digital RMB wallet in the ICBC APP to shop here.

It’s still feasible.

In the shopping area of ​​the Bank of China, the reporter used digital renminbi to purchase a small badge called Xue Rongrong, the mascot of the Beijing 2022 Winter Olympics and Paralympics.

Xue Rongrong is the mascot of the Beijing Paralympic Winter Games. This small badge is slightly larger than RMB 1 and has a paper clip on the back of it hanging on clothes or bags, which is quite cute.

Similarly, in the exhibition areas of China Construction Bank, Bank of Communications and Agricultural Bank, there are also introductions to digital RMB.

The “White Paper on China’s Digital RMB Research and Development Progress” disclosed that as of the end of June this year, there were over 1.32 million digital RMB pilot scenarios, covering life payment, catering services, transportation, shopping and consumption, government services and other fields. More than 20.87 million personal wallets and 3.51 million public wallets were opened, and the total number of transactions was 70.75 million with an amount of approximately RMB 34.5 billion. Digital renminbi is mainly positioned as a cash payment voucher, and will coexist with physical renminbi for a long time.

(At the request of the interviewee, both Chen Xuan and Tao Hong are pseudonyms)

“China Economic Weekly” reporters Sun Tingyang and Xiao Yi | live report from the Service Trade Fair

 

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