Bank of China collaborates with telecom operators to test offline digital yuan payments.
Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan, also known as the e-CNY, which is China's central bank digital currency currently being tested.
The bank plans to enable users to make phone payments by integrating its e-CNY app with specialized"super SIM cards" that have near-field communication capabilities. Users simply need to bring their mobile phones near the point of sale terminals for payment, eliminating the need for the phone to be turned on.This integration allows transactions to be processed even when the phone is powered off.
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