INCENTIVE: RuubyPay app users can also enjoy a discount if they pay for their trip with digital yuan
Passengers on bus, subway and suburban rail services in the Chinese capital Beijing can now receive a discount and pay as little as 0.01 yuan for their journey if they use the country’s central bank digital currency (CBDC) to pay their fares from a digital yuan mobile wallet issued by the Industrial and Commercial Bank of China.
The city has introduced the discounts on its public transport network in order to further promote the use of digital yuan for fare payments, the Beijing Local Financial Supervision and Administration told the local media.
“Subway and bus passengers in Beijing can receive coupons from the Beijing Local Financial Supervision and Administration’s official website and use them when paying fares with digital RMB. With the discounts, fares can be as low as 0.01 yuan,” reports China.org.cn.
“Passengers can also enjoy digital RMB payment discounts by downloading the RuubyPay app. RuubyPay allows passengers to take the subway once for only 0.01 yuan when using digital RMB to pay.”
Beijing Rail Transit began letting passengers use digital yuan to make contactless fare payments on subway lines and suburban rail services in July.
Beijing offers public transport users discounts to encourage digital yuan fare payments was written by Tom Phillips and published by NFCW.