China Announces New DCEP Pilot and Lottery in Suzhou

After conducting a hugely successful trial of its upcoming digital yuan wallet this fall, China has set its sights on more large-scale trials of the new payment system. According to a report from Asia Nikkei, the Chinese government will be expanding the trials of its DCEP payment system this week with a massive pilot project set to take place in Suzhou.

The new DCEP trial will be significantly different from the “red packet” pilot the government conducted in Luohu back in October. Namely, China wants to broaden the use of the digital yuan wallet beyond just POS terminals in physical stores and is looking to test out a feature that allows users to send money to each other by just touching their smartphones together.