Foreign Visitors in China Can Now Use Credit Cards with Digital Yuan Wallet

Published 7 months ago

Foreign visitors in China, including tourists, now have the ability to utilize their Mastercard or Visa credit cards to fund a central bank digital currency (CBDC) wallet with digital yuan. The digital wallet is a prototype developed by the country’s central bank and is part of China’s ongoing digital yuan trial program.

How to Use the Digital Yuan Wallet

The digital yuan wallet can be downloaded by foreign nationals onto iOS devices from the App Store and onto Android devices from the China-based Google Play platform through a virtual private network (VPN). Once downloaded, visitors can form their personal wallet, preload digital yuan using their international credit card, and then use the CBDC for transactions at outlets participating in the digital yuan trial.

Digital Yuan at the 2022 Beijing Winter Olympics

The 2022 Beijing Winter Olympics served as a platform for some of the first foreign nationals to test this payment method. Participants were able to make payments with the digital yuan through an app, a contactless wristband, a physical card, or a hard wallet. This move signifies China’s digital ambitions and the ongoing evolution of global payment methods.