Feb 7, 2021|

DCEP Test Run in Beijing’s Wangfujing Ice & Snow Shopping Festival


by Ling Cao

Total 50,000 DCEP (Digital Currency Electronic Payment) red envelopes will be issued to Beijing residents in the Digital Wangfujing Ice & Snow Shopping Festival hosted by the Dongcheng district government of Beijing Municipality, according to the Beijing Local Financial Supervision and Administration information reposted on the JD Technology WeChat account.

The envelope equals to RMB 200 yuan each, and will be issued by drawing lots. The DCEP can be used at designated stores online and offline, including selected stores in Wangfujing, as well as the special initiative area under JD app.

The pre-order channel will be opened to Beijing residents from 00:00 o’clock on Feb. 7 to 23:59:59 on Feb. 8. Individuals in Beijing (based on the GPS location) can log into the “Glamorous Wangfujing” (魅力王府井) mini program to check the details, and apply for registration on the JD app or Jingxi app. Customers who have won the lottery will be able to download the DCEP app to access the currency, which can be used from 9 PM on Feb. 10 to 24:00 on Feb. 17.

Last week, JD announced that it will support the second DCEP  test program in Suzhou, partnering with the Suzhou Municipal Government during Feb. 5 to 26 to jointly launch the DCEP X Suzhou’s Chinese New Year Grand Promotion of JD event.

In Double 12 Grand Promotion of 2020, Suzhou’s government issued RMB 20 million DCEP consumption red envelopes to residents, and was the first city to test online consumption scenarios by DCEP, with JD Technology providing support in technology and services, helping connect financial institutions with online purchasing applications.

Fei Peng, head of the DCEP program at JD Technology said, “JD Technology has self-built the payment and settlement service platform, which can provide nonstop 24/7 transaction services. Using the patented dynamic rule splitting algorithm, we can solve the problem of massive data reconciliation, enabling 50 million transaction reconciliations to be completed in 15 minutes.”