Central Bank to Push for Universal Digital Payment QR Codes

What’s new: China’s central bank vowed to promote interconnection between the digital yuan and other electronic payment tools so that consumers can make payments by scanning a unified QR code.

As part of efforts to accelerate standardization of the digital yuan system, it is necessary to promote unification of digital identity, message specification and QR code systems, said Fan Yiwei, deputy governor of People’s Bank of China, at a digital finance forum Thursday.