at present, for most residents, it has become accustomed to using Alipay, WeChat and other three party payment. Will digital RMB shake the status of the third party payment in the future?
Bi Tongtong believes that the biggest difference between the central bank’s digital Renminbi and Alipay and WeChat is the difference in legal rights. The central bank’s digital currency is endorsed by the state, which is equivalent to the legal tender. But people’s personal assets in third-party payment are actually bookkeeping, which are all based on commercial bank settlement. As for whether the central bank’s digital currency will impact the market position of WeChat and Alipay, this is a process determined by the market, depending on the ease of use, commercial value and economic scale.
with the introduction of digital RMB, will the future transfer between Alipay and WeChat be realized? Yang Wang believes that the matter mainly considers two aspects: willingness and ability. Digital RMB is the legal digital currency issued by the people’s Bank of China based on national credit, that is, any transaction scenario must be received unconditionally, and the transfer function should be supported between commercial banks and third-party payments. In terms of willingness, digital RMB transfer between commercial banks is not a big problem, but there are business barriers in the third-party payment. Different platforms may be in the protection of their own business ecology, and the transfer between each other will not be realized for the time being, and the realization of this function in the future is not ruled out.