Asia • January 21, 2021, 4:38PM EST

Real-world tests of the digital yuan show how it could disrupt China’s mobile payment giants

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Quick Take

  • Merchants who supported digital yuan for real-world testing said they didn’t have to pay any transaction fees, unlike when they use third-party payment providers.
  • The government has sent mixed signals about whether the central bank digital currency will compete with Alipay and WeChat Pay.