E-CNY refers to legal digital currency, which is issued by the central bank in accordance with the law. It has unlimited legal compensation and the functions of value scale, circulation, payment and store of value. Showing QR code to pay the fare promotes the application of E-CNY in bus travel and helps the promotion of E-CNY.
The currency: E-CNY
Two banks: central bank issuance and bank issuance
Three centers: registration, certification, big data analysis center
Product features
Financial inclusion
There are no settlement, deposit and withdrawal fees.
Same-day cleared payments
There are no intermediate stops for settlement.
High controllability
Its circulation can be anonymous, programmable, traceable. It has smart contracts and other functions.
Product Advantages
1.Showing QR code to pay the fare promotes the application of E-CNY in bus travel and helps the promotion of E-CNY.2.Scanning QR code to pay the fare is a successful application of E-CNY in the field of public transportation, accelerating the improvement of green and smart transportation systems, and exploring smart and efficient public transportation methods.
3.It can enrich the payment methods for passengers to take the bus, promote the application of E-CNY as a legal currency in the lives of citizens, and accumulate the pilot experience in mobile small-amount payments.
4.After POS machines in the existing buses are upgraded, E-CNY payment function can be supported by embedding the E-CNY payment module.
5.Based on blockchain technology, it is necessary to ensure that the corresponding subsidies are in place to help economic growth
Partnership Benefits
1.Scanning QR code to pay the fare is a successful application of E-CNY in the field of public transportation, accelerating the improvement of green and smart transportation systems, and exploring smart and efficient public transportation methods.2.It can enrich the payment methods for passengers to take the bus, promote the application of E-CNY as a legal currency in the lives of citizens, and accumulate the pilot experience in mobile small-amount payments.
3.Soft wallets and hard wallets of E-CNY can be supported at the same time.
All-in-one Bus Validator: Automatic System Upgrade
Transparent transmission and decryption of data are between each module, and closed-loop business can be achieved finally.
4G Network Communication: Real-time Connection
In this business scenario, the main components are composed of digital hard wallet modules, equipment (MCU), front-end services, and bank-side services.
All-in-one Payment App:
Swipe card, scan QR code, facial payment
Payment Aggregation:
E-CNY
Transportation cards, and citizen cards
UnionPay
WeChat, Alipay and other third party
The first provider of National Digital Currency Pilot in Bus Application Scenario
“2021 Digital China” Fuzhou Exhibition Displaying the Products
Designated Machine Suppliers in the First Digital Currency Pilot Cities
Digital Currency Manufacturers of the First Batch of Digital Currency Pilot Cities—Suzhou,
Digital Currency Machine Supplier of Changshu Bus
Successful Case
In October 2020, Bank of China Suzhou Branch, Changyun Information Construction Co.in Changshu Ltd. and Hangzhou Golong Technology jointly researched and developed the first domestic bus route which supported digital RMB payment and was launched successfully.
Golong solved the communication problems of payment system terminals in various complex environments and maintained stable communication of the system even in areas with weak network signals. After six months of operation, the payment system and terminal are stable, supporting the use of E-CNY wallets by six major operators.
Hand in hand with Suzhou to realize the first digital RMB and smart bus application scenario in China
After POS machines in the existing buses are upgraded, digital RMB payment function can be supported by embedding the E-CNY payment module.
Changshu, Hangzhou and Shaoxing have completed the preliminary work of digital RMB access and entered the project implementation and launched process.
Bank of China Digital RMB Ecological Construction Partner.