- Dec 13, 2020
JDD Supports China’s First Online Payment by Digital RMB
by Ling Cao
China’s first online order by DCEP(Digital Currency Electronic Payment) was made by a Suzhou customer at JD.com at 20:00:02 on December 11, just 2 seconds after Suzhou’s government kicked off the double 12 shopping festival and issued RMB 20 million DCEP in partnership with The People’s Bank of China, which is central bank of China.
The DCEP payment solution in offline scenarios
Suzhou is the first city to test online consumption scenarios by DCEP, with JD Digits providing support in technology and services, helping connect financial institutions with online purchasing applications. JDD is the first technology company to test the DCEP in China with state owned banks and connected with online scenarios.
JD Digits’ extensive experience in providing payment solutions for e-commerce through peak sales periods ensures safe and stable payment technology support for the DCEP. Additionally, JDD has helped merchants to upgrade their payment systems to guarantee a more convenient operation experience. Fei Peng, head of the DCEP program at JDD said, “JD has over 441 million annual active users, and nationwide logistics services, as well as omnichannel operations, and these advantages will help promote the building of the DCEP ecosystem.”
Apart from JD’s online platform, the program will also have access to JD’s offline stores, such as JD’s 5STAR home appliance stores, JD retail experience shops, JD convenience stores, as well as stores outside of JD’s ecosystem. Leveraging JD’s logistics and supply chain capability, JDD has also developed cash-on-delivery services for customers.
Cash-on-delivery services for customers via DCEP
“JDD’s training courses made us feel worry-free in using DCEP in our services. We hope to provide customers with a new and convenient payment experience,” said Ruxin Chen, store owner for JD’s 5STAR home appliance store in Suzhou’s Wuyue Shopping Mall.
Suzhou’s DCEP test program is a practical application based on the partnership between JDD and The People’s Bank of China.
“The Suzhou program will further release the local consumption demand and help promote the real economy to benefit from the digital economy.” Peng emphasized.