China’s Digital Yuan Smart Card to Feature Biometrics and Fingerprint Scanning
The People’s Bank of China’s upcoming digital yuan card will feature IDEX Biometrics and fingerprint scanning, according to regional reports. China’s “Digital Currency Electronic Payment” or DCEP is getting closer toward launch by the day. Last week, smart card manufacturer Chutian Dragon and IDEX Biometrics announced the companies are working on a digital yuan payments card. China’s DCEP Will Boast Advanced Fingerprint Identification and Authentication Solutions China’s DCEP continues to make headlines as the crypto asset and central bank-crafted....
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From privacy to political power, China’s digital yuan will have far-reaching implications.
Another Chinese banking institution has created a hardware wallet for the country’s central bank digital currency. China’s large-scale digital yuan testing across several cities continues to gather pace with some financial institution leading the development of hardware wallets for the central bank digital currency.According to news agency Xinhua, the Postal Savings Bank of China has created a biometric hardware wallet for the project.The biometric hardware wallet enables easy identity verification for users via fingerprint sensors on the card.Consumers participating in the CBDC trials in....
Some winners purchased additional digital yuan during the pilot. The vast majority of China’s $1.5 million digital yuan lottery winners have received and spent their “red packets” of digital yuan.As of Oct. 18, a total of 47,573 out of 50,000 lottery winners in China have received their prizes, Shenzhen authorities officially announced on Sunday. According to the announcement, the winners conducted a total of 62,788 transactions accounting for 8.8 million yuan ($1.3 million). This amount represents about 88% of the total 10 million yuan ($1.5 million) that was to be distributed in the....
For months now, the mobile industry has heard rumors about a new Apple mobile payment network colloquially referred to as the "iWallet." Bloomberg is reporting that Visa, Mastercard, and American Express have worked out an agreement with Apple that will be revealed on 9/9/14 alongside the anticipated launch of the iPhone 6. All of this information regarding Apple's landmark deals with the world's major credit card companies is being leaked by "a person familiar with the situation." According to "the person," the iPhone 6's newly included near-field communication (NFC) chip will, alongside....
Ant’s suspended IPO exposes potential financial risks posed by the fintech giant’s digital payment platform Alipay. The digital yuan may be China’s attempt at a solution.