The People’s Bank of China (PBOC) launched a digital yuan visual hard wallet at the 18th Shenzhen International Financial Expo, bringing digital currency closer to senior citizens as it can be used without an app.
The hard wallet features an ultra-slim, 1mm-thick card resembling a credit card but includes a screen that displays QR codes, transaction histories, and current balances. Designed specifically to help seniors, students, and foreign visitors access digital payments more easily, PBOC is banking on this tool to simplify the use of digital currency for those less familiar with traditional app-based wallets.
The digital yuan hard wallet was originally piloted in 2021 but has recently integrated with HarmonyOS, Huawei’s distributed operating system, allowing users to make transactions without needing a dedicated app. For merchants, accepting payments from the wallet is straightforward—simply requiring a smartphone to scan the dynamic QR codes displayed on the card, which reduces the need for additional infrastructure.
The hard wallet supports both “tap-to-pay” and “scan-to-pay” functions, so transactions can be conducted seamlessly on various payment systems, including POS terminals, scanners, and mobile devices.
According to domestic reports, this hardware was developed with input from multiple Chinese banks and financial institutions, reflecting a coordinated effort to make the digital yuan more universally accessible.
The wallet was designed with user privacy and security in mind, supporting anonymous transactions and utilizing advanced security features to protect user data while ensuring a convenient, secure experience.
Users can get their own digital yuan wallets at self-service issuance terminals in locations like border checkpoints, airports, and high-speed rail stations around Shenzhen. They can recharge the wallet in cash, using either Chinese yuan or foreign currency, and even with major credit cards like VISA and Mastercard, providing a range of options for both domestic and international travelers.
