{"id":2909,"date":"2022-12-14T08:52:48","date_gmt":"2022-12-14T08:52:48","guid":{"rendered":"https://uk20201.com/blog\/?p=2909"},"modified":"2022-12-14T08:52:49","modified_gmt":"2022-12-14T08:52:49","slug":"alibaba-s-alipay-taobao-platform-to-launch-digital-yuan-pay-functions","status":"publish","type":"post","link":"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/","title":{"rendered":"Alibaba \u2019s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions"},"content":{"rendered":"
\n
\"Alibaba\"<\/figure><\/div>\n\n\n

Alibaba-An affiliate of the Chinese tech giant Alibaba has claimed that it will allow customers to pay with the\u00a0digital yuan\u00a0on its Taobao e-commerce platform, in addition to the market-leading Alipay e-payments platform.<\/p>\n\n\n\n

Per Sina Technology, the announcement was made by Li Chen, Chief Compliance Officer of the Ant Group \u2013 Alibaba\u2019s fintech arm. Ant operates Alipay and Alibaba\u2019s online banking arms. Li Chen was quoted as telling attendees at a digital trade forum in Zhejiang:<\/p>\n\n\n\n

\u201cAlipay has joined the digital yuan acceptance network. It is the first payment platform to support the digital yuan.\u201d<\/em><\/p>\n\n\n\n

Li Chen added that a digital yuan wallet \u201cfast payment function\u201d had been launched in Taobao \u2013 allowing customers to use digital yuan holdings at checkout.<\/p>\n\n\n\n

The official added that a slew of digital yuan-related services would be \u201claunched in batches\u201d in the weeks and months ahead.<\/p>\n\n\n\n

The new Alipay link means that digital yuan holders in the pilot zone can also use their coins to pay for goods and services on Alibaba subsidiaries, such as Tmall-Mart, the tech giant\u2019s \u201csmart\u201d online supermarket, the Hema chain of grocery stores, and its Ele.me food delivery network.<\/p>\n\n\n\n

The media outlet added that Alipay and Taobao app users could get started with digital CNY pay right away \u2013 by simply updating their apps. At checkout, they can find prompts that lead them to digital yuan wallet payment options.<\/p>\n\n\n\n

Alipay officials also added that users could search for a new \u201cpaying with the digital yuan\u201d section in the Alipay app to \u201clearn how to use\u201d the coin.<\/p>\n\n\n\n

Why Does it Matter if Alipay & Taotao Embrace the Digital Yuan?<\/h2>\n\n\n\n

Taobao is China\u2019s answer to Amazon and is arguably its most popular e-commerce website, alongside JD.com. The latter has been exceptionally active in the digital CNY sphere, and has pioneered a range of giveaways in pilot zone areas.<\/p>\n\n\n\n

Alipay and its closest rival WeChat Pay have dominated the Chinese e-payments market in recent years \u2013 and have cornered some 15% of the total national payments market. WeChat Pay is the brainchild of the tech titan Tencent.<\/p>\n\n\n\n

The government has repeatedly claimed that the digital yuan is not being positioned as an Alipay\/WeChat Pay rival, although some believe that Beijing is planning to break up the tech giants\u2019 duopoly.<\/p>\n\n\n\n

U.TOWN\uff1ahttps:\/\/u.town\/en<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Alibaba-An affiliate of the Chinese tech giant Alibaba […]<\/p>\n","protected":false},"author":1,"featured_media":2911,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[488],"tags":[687,414,415],"yoast_head":"\nAlibaba \u2019s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions - U.TOWN<\/title>\n<meta name=\"description\" content=\"Alibaba-An affiliate of the Chinese tech giant Alibaba has claimed that it will allow customers to pay with the\u00a0digital yuan\u00a0on its Taobao\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"zh_TW\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Alibaba \u2019s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions - U.TOWN\" \/>\n<meta property=\"og:description\" content=\"Alibaba-An affiliate of the Chinese tech giant Alibaba has claimed that it will allow customers to pay with the\u00a0digital yuan\u00a0on its Taobao\" \/>\n<meta property=\"og:url\" content=\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/\" \/>\n<meta property=\"og:site_name\" content=\"U.TOWN\" \/>\n<meta property=\"article:published_time\" content=\"2022-12-14T08:52:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-14T08:52:49+00:00\" \/>\n<meta property=\"og:image\" content=\"https://uk20201.com/blog\/wp-content\/uploads\/2022\/12\/image-1.png\" \/>\n\t<meta property=\"og:image:width\" content=\"554\" \/>\n\t<meta property=\"og:image:height\" content=\"369\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin1\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin1\" \/>\n\t<meta name=\"twitter:label2\" content=\"\u9810\u4f30\u95b1\u8b80\u6642\u9593\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 \u5206\u9418\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/#article\",\"isPartOf\":{\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/\"},\"author\":{\"name\":\"admin1\",\"@id\":\"https://uk20201.com/blog\/#\/schema\/person\/465f9d960ffe4355dbd44ff26c85a528\"},\"headline\":\"Alibaba \u2019s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions\",\"datePublished\":\"2022-12-14T08:52:48+00:00\",\"dateModified\":\"2022-12-14T08:52:49+00:00\",\"mainEntityOfPage\":{\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/\"},\"wordCount\":400,\"publisher\":{\"@id\":\"https://uk20201.com/blog\/#organization\"},\"keywords\":[\"Alibaba\",\"Cryptocurrencies\",\"u.town\"],\"articleSection\":[\"blockchain\"],\"inLanguage\":\"zh-TW\"},{\"@type\":\"WebPage\",\"@id\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/\",\"url\":\"https://uk20201.com/blog\/en\/blockchain-en\/ex\/2909\/\",\"name\":\"Alibaba \u2019s Alipay & Taobao Platform to Launch Digital Yuan Pay Functions - 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