JD’s third-party sellers adopt China’s new digital currency
Changsha Qianbaizhi Food Trading was amongst the first to access e-CNY.
JD’s online platform has enabled its third-party sellers together with self-operated businesses to use China’s news digital currency as a new payment method, becoming one of the first companies to adopt the so-called “e-CNY,” the company revealed in a press release.
As a pilot entity of e-CNY, JD.com was amongst the first technology companies to apply e-CNY in China with banks one year ago.
The manager of Changsha Qianbaizhi Food Trading was one of the first merchants to access the digital RMB system through Jingxi. The access to digital RMB helped improve the daily operation efficiency of the store and reduce the cost of financing, he said.
“By integrating the e-CNY wallet management function of partners with JD’s existing settlement system, we will jointly promote the system construction of e-CNY in full-scene applications and continuously monitor the security, stability, and compliance of the system,” a JD representative said.
As of the end of 2021, more than 2 million sub-wallets are bound online on JD.com, and more than 1 million users have made 3 million transactions with a cumulative turnover of more than 200 million.