Michael Sung, co-director of the Fintech Research Center at Fanhai International School of Finance at Fudan University, said Alipay and WeChat Pay have formed a duopoly, taking 95 percent of the market share in mobile payments. The DCEP will improve competition, diversify options, and, backed by the state, offer greater reliability. In addition to traditional payment functions, he said that the DCEP is a programmable currency, which can serve multiple functions, and be directly transferred to those most in need, stimulating the economy in a more effective way.
Subscribe to us on YouTube: https://goo.gl/lP12gA
Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvnews-app/id922456579?l=zh&ls=1&mt=8
Download our APP on Google Play (Android): https://play.google.com/store/apps/details?id=com.imib.cctv
Follow us on:
Website: https://www.cgtn.com/
Facebook: https://www.facebook.com/ChinaGlobalTVNetwork/
Twitter: https://twitter.com/CGTNOfficial
Instagram: https://www.instagram.com/cgtn/?hl=zh-cn
Pinterest: https://www.pinterest.com/CGTNOfficial/
Weibo: http://weibo.com/cctvnewsbeijing
Douyin: http://v.douyin.com/aBbmNQ/
