Bank of China Teams up with BestPay to Launch Digital Renminbi Wallets

One of China's big state-owned banks is teaming up with a leading digital payments provider on the provision of digital renminbi wallets via the latter's app. Bank of China (BOC) and BestPay (翼支付) officially launched their joint digital renminbi wallet on 7 September. Users can access the digital renminbi wallet via the BestPay app, and tie it to their bank cards to engage in deposit, currency exchange and account transfer operations. BestPay said it also plans to launch "Digital Renminbi Commercial City" (数字人民币商城), which will enable customers to access general-use vouchers, as well as make mobile service recharges.