Numbers don’t need to be tied to a bank card.
As long as the digital RMB wallet has money, the payment can be made. If the digital RMB wallet has no money, the user wants to transfer to the digital RMB wallet, then he needs to bind the bank card to carry out the money in and out.
Digital Yuan is a new encryption launched by the People’s Bank of China. It is not a virtual, online payment or electronic wallet, but a legal digital currency issued by the state based on credit.
The digital yuan red envelopes cannot be used for cash withdrawals, but can be used for small retail purchases, transportation card top-up, food and beverage consumption, and party membership payments.
Digital RMB has national credit endorsement, which is equivalent to banknotes and coins in circulation. It coexists with physical RMB, which is mainly to meet the public’s demand for digital cash and is helpful to HP Finance.
The digital RMB adopts a dual operation system. In short, the Bank of China does not directly issue or exchange the central bank‘s digital RMB to the public, but first goes through the designated operation institutions of digital RMB exchange, and then converts the digital RMB to the public through these operation institutions.
