Is digital renminbi payment safe without electricity?
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Recently, the new function of digital renminbi payment without network and electricity has been launched, which has attracted attention. Some Android mobile phone users have discovered that the “Payment without Network and Electricity” function entry has been added to the “Payment Settings” of the Digital RMB App hard wallet.
Digital renminbi payment without network and electricity, as the name suggests, means that digital renminbi can still be used for payment when the mobile phone has no network or is turned off without power. The reporter had an experience, and put the turned off mobile phone close to the POS machine that supports this function, and the payment was completed immediately, and the whole payment process was very smooth.
According to the staff, the full name of digital renminbi payment without network and electricity is digital renminbi mobile terminal payment without network and electricity, that is, when the mobile phone is turned off, consumers can still use the mobile phone to “touch” the payment terminal to complete the payment. To use this function, consumers only need to activate the power-free payment function in the digital renminbi application, and set the number of payments and the amount that can be paid after the phone is turned off.
At present, the new function of digital RMB can already be used in some scenarios, and it will be expanded to more scenarios in the future. Qi Mohan from the digital renminbi team of ICBC Beijing Branch told reporters that at present, all POS machines with NFC functions that can accept digital renminbi support payment without network or electricity, and only need to upgrade the software. For example, some supermarkets, bookstores, self-service vending terminals and other scenarios have already installed such POS machines. With the advancement of digital renminbi research and development, more scenarios will support digital renminbi payment without network and electricity in the future.
Last year, the People’s Bank of China had already announced this new function. On October 12, 2022, it was proposed in the article “Carrying out the Pilot Work of Digital RMB Research and Development” published on the official WeChat account of the People’s Bank of China that various forms of hardware wallets will be launched to explore the product capabilities of the integration of software and hardware. Develop corresponding functions for extreme scenarios such as no network and no electricity.
Industry experts believe that the digital renminbi is a legal currency in digital form and a digital cash, which must reflect the convenience of payment as cash. The no-network and no-power payment function can solve the pain point that users cannot pay when the mobile phone is turned off without electricity, and at the same time, they do not carry physical cash with them for emergency, ensuring that users can continue to use digital renminbi for payment services under extreme circumstances. Although the need to pay while the mobile phone is out of power is a niche scenario, the digital renminbi takes this situation into account as a legal currency, which also reflects the “people’s nature” of the digital renminbi.
It is reported that some models such as Xiaomi and vivo can already support the new function of digital renminbi, and this function will be opened to more models and scenarios in an orderly manner.
For users, safety is the first consideration before using this function. Some netizens are worried, if this function is activated, what should I do if I lose my mobile phone? If someone finds my mobile phone, can I spend it casually?
In fact, consumers need not worry too much. According to the staff, the relevant settings of the digital renminbi can ensure the safety of funds. Consumers can set their own payment times and password-free quota limits for the mobile phone’s battery-free payment function. When paying without electricity, if the transaction amount exceeds the password-free limit, the user needs to enter the payment password on the acceptance device, and the transaction can only be carried out after the background system passes the verification. Similarly, if the number of payments exceeds the limit without power, the transaction cannot be carried out. In the case of a lost mobile phone, consumers can log in to the Digital RMB App on another mobile phone and immediately turn off the payment function without network or electricity, which can effectively prevent the loss of funds.
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