The solution aims to support the People’s Bank of China initiative and will feature a smart card-based e-wallet that will be secured by IDEX’s TrustedBio fingerprint authentication technologies.
Chutian Dragon is a participant in the Digital Currency/Electronic Payment National Project initiative. IDEX and Chutian Dragon entered into their initial license and commercialisation agreement back in 2019.
By planning and building an infrastructure for mass digital payments, online or offline, China aims to provide a solution for the unbanked and underbanked people in China. The card-based e-wallet initiative is intended to assist the nearly 45% of the Chinese population who do not have access to a smartphone, in a bid to narrow the digital divide in financial services. China’s six largest banks began multi-city trials of Digital Currency/Electronic Payment in December 2020.
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