The Lu Xun High School in China’s Hainan province has provided students with a new campus smart card device with digital yuan payment functionalities, further expanding use of the e-currency at education institutions, China’s largest state-owned broadcaster China Central Television (CCTV) reported Tuesday.
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The digital yuan, also known as the e-CNY, is China’s central bank digital currency (CBDC), which is being trialed in 23 regions and cities.
The device uses near-field communication, or NFC, which allows for contactless payments.
The device comes with a SIM card to enable digital yuan payments and phone call services, which serves as an alternative for the mobile phone prohibition on students, CCTV reported.
Industrial and Commercial Bank of China and China Mobile jointly developed the card, the TV report said.
Currently, there are at least 19 universities and colleges, and four middle and high schools, that have started accepting digital yuan payments, according to statistics compiled by Forkast.
The use of the digital yuan has recently been expanded to include a variety of public transport and municipal services, including metro, buses, trains, highway toll gates, taxation, and social insurance.
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