JD Supports DCEP Test Run in Suzhou for the Second Time

JD Supports DCEP Test Run in Suzhou for the Second Time

by Ling Cao

JD will support the second DCEP (Digital Currency Electronic Payment) 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.

Local residents will be issued 150,000 DECP red envelopes, with RMB 200 yuan each, totaling RMB 30 million yuan. Residents who have won the lottery can purchase selected products on the JD app, Jingxi app, as well as JD Finance app.

Residents can also purchase products at selected offline stores in Suzhou, including JD’s 5STAR home appliance stores, JD’s computer and digital products stores and JD’s convenience stores, as well as other supermarkets, lifestyle, daily necessity stores, and restaurants.

JD Technology, JD’s business group focusing on serving industrial enterprises and institutions via technology, is the integrated technology and service provider for the program, and will closely cooperate with operators to support the program into application.

The pre-order process will open from 00:00 o’clock on Feb. 5 to 24:00 on Feb. 6. Residents can pre-order the lottery on the JD app or Suzhoudao app, a city lifestyle service app. The results will be announced at 6PM on Feb. 10, and then participants will be able to download the DCEP app to access the currency. The red envelopes can be used from 6 PM on Feb. 10 to 24:00 on Feb. 26.

This is the second time for Suzhou to test the DCEP program on a large scale. Last Double 12 Grand Promotion, Suzhou’s government issued RMB 20 million DCEP consumption red envelops 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.

JD Technology was among the first group of technology companies to test the DCEP in China with state owned banks and connected with online scenarios. JD also helped merchants upgrade their payment systems, as well as developed cash-on-delivery services for customers.

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.”

 

(ling.cao@jd.com)

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