중국의 CBDC가 알리 페이와 위챗에 위협이 될까요?
Chinese banks continue to introduce the digital yuan. The upcoming shopping festival could be the next testing ground for CBDC online testing
Today, five Chinese banks support the digital yuan. These are Agricultural, Construction, Industrial and Commercial and other banks of China.
They will promote e-CNY as a means of payment, which could disrupt Alipay and WeChat Pay plans. This platforms can generate significantly less revenue than in previous years.
The CBDC is progressing quite aggressively. Banks are urging sellers and retail customers to install wallets and use them for direct payments, bypassing other popular payment methods. And that's not surprising.
China has invested a lot of effort and resources in promoting the digital yuan. Its development was carried out by leading experts, and it is really convenient to use CBDC for retail payments. All transactions are made quickly, so that the digital yuan really becomes a serious competitor to traditional payment methods.
In this regard, the share of the largest payment platforms in the market will decline. In 2021, these two giants provide 98 percent coverage of payments to densely populated asian countries.
However, according to the Chinese central bank, CBDC will not be a competitor to both platforms. It is also reported that banks using the digital yuan cannot make money transfers from cryptocurrency wallets to accounts in Alipay and WeChat Pay.
According to analysts, in a couple of years e-CNY will occupy 10% of the electronic payments market. Mostly, it will be used for interbank and non-cash settlements.