Tag Archives: The Duopoly of Alipay And WeChat In China Faces A Digital Currency Challenge: China’s Trials

The Duopoly of Alipay And WeChat In China Faces A Digital Currency Challenge: China’s Trials

Six major state banks in Shanghai are secretly promoting digital yuan ahead of a May 5 shopping festival, fulfilling a political mandate to offer customers a payment option, other than Alipay and WeChat Pay. The banks are persuading merchant and retail clients to download digital wallets so that transactions can be made directly in digital […]