The foreign exchange machines accept 20 different currencies for a physical card loaded with digital yuan to be used at designated merchants.
A new e-CNY foreign exchange machine is China’s latest bid to court tourists to its tropical southern vacation hotspot Sanya, on Hainan island, by allowing people to exchange 20 currencies for digital yuan, a move that could give visitors greater access to a ubiquitous local mobile payments ecosystem. The machine, which looks similar to an automated teller machine (ATM), allows visitors to deposit currencies such as US dollars and euros to receive a physical card loaded with e-CNY that can be used to pay for goods at participating merchants with just a tap, according to a report on Sunday from the state-run newspaper Hainan Daily. Travellers can return to the machines to top up, check their balance and see transaction records. The machines can currently be used in eight languages, including English, French, Japanese and Russian. China’s e-CNY wallet handles subway, train fares in parts of Zhejiang province The move meets tourists’ demands by giving them an option for digital payments for dining, accommodations, transport and shopping “without the need to open a bank account”, according to the report, which cited an employee of Bank of China (BOC), which developed the machine and is one of 11 banks authorised to handle e-CNY.
