Starting October 12, the mobile application for Beijing Municipal Administration Traffic Card (Yikatong) will accept Digital Currency Electronic Payment (DCEP).
From October 12 to 25, local residents in Beijing who opened an Agricultural Bank of China (ABC) DCEP wallet on their Yikatong APP will receive a coupon. When you top up your traffic card (including both mobile app and physical card) with the coupon, CNY 5 will be directly saved from the ABC DCEP wallet. In addition, with this coupon, by paying 1 cent, the transport charge deducted from your wallet when you pay for public transport or subway tickets is up to CNY 9.99. For more details, please subscribe to the WeChat accounts of "北京市政交通一卡通" (Yikatong) and "中国农业银行微银行" (ABC Micro-bank).
There are two types of DCEP wallet, hard and soft wallets. The soft wallet is eligible for this special offer. It can be used with the mobile app, and will be deeply integrated with Yikatong card and the public transportation QR code. With this, residents can simply use the same payment process for public transport, paying with digital RMB from their DCEP wallet, and the transaction will be completed online.
The hard wallet looks like an ultra-thin card with a screen, similar to the original public transit card. By swiping the hard wallet card at a bus card machine or subway gate, payment can be easily completed. The hard wallet uses dual offline payment technology, allowing its use even without a network connection. With such simple operation, the hard wallet is designed specifically for foreigners, the elderly, children and other special groups of people.
(Note: Content sourceis from The Beijing News.)