Passengers using Qingdao Metro’s line 4 can now use their NFC mobile phone to pay directly for their fares with China’s digital yuan central bank digital currency (CBDC), even if their mobile phone has no signal or has run out of battery.
To use the service, “users add China Unicom or China Telecom SIM card digital RMB hard wallet to the Digital RMB App, and associate the hard wallet with the Bank of China personal digital RMB soft wallet,” China’s Securities Times reports.
“When the mobile phone has no power (or is turned off), it can still be ‘touched’ through the mobile phone’s NFC function. The payment is completed, and the function of sharing the balance of the personal soft wallet, is realized without additional recharge.”
The offline CBDC payments application has been developed “under the guidance of the Digital Currency Research Institute of the People’s Bank of China, the Qingdao Central Branch of the People’s Bank of China and the Qingdao Municipal Transportation Bureau, and with the strong support of Qingdao Metro Group.
“The project is jointly funded by Bank of China, China Telecom, China Unicom and Digital Finance Public Service Co.”