Universities are one of the good closed pilot scenarios for digital renminbi

Mobile Payment Network News: On May 10, the Ningbo Branch of the Agricultural Bank of China and Ningbo Institute of Technology of Zhejiang University held a comprehensive strategic cooperation launching ceremony for the digital renminbi bank school. Scenarios to explore a new model of business cooperation between banks and universities.

At present, there are 23 digital RMB pilot areas. Specific to the application of digital renminbi, in addition to daily consumption scenarios, many places are also creating good closed pilot scenarios, such as the Beijing Winter Olympics, corporate parks, campuses, etc. Among them, there are some cases in campus, especially in college application scenarios.

The mobile payment network believes that the pilot of digital renminbi in closed scenarios such as colleges and universities can be promoted among a small group of people with high acceptance based on a controllable situation. "Financial Inclusion".

In Zhejiang University Ningbo Institute of Technology , supermarkets, hot water bill payment, etc. currently support digital RMB payments. In the future, the application of digital renminbi in the fields of school financial settlement, salary payment, and official reimbursement will be realized.

Coincidentally, the Chongqing Branch of the Agricultural Bank of China and Southwest University also signed the "Comprehensive Strategic Cooperation Agreement during the "14th Five-Year Plan" period" on May 10 this year, unveiled the "Digital RMB Campus Scene Application Pilot Universities", and landed the first ecological application of digital RMB in colleges and universities in Chongqing Scenes. It is reported that teachers and students of the school can use digital renminbi in scenes such as supermarkets on campus, surrounding business districts, and transportation vehicles, and then expand scenarios such as tuition payment, meal card recharge, and utility bill payment.

In December 2021, the Tiancizhuang Campus of Soochow University will hold a ceremony to launch the digital renminbi multi-functional application scenario of "Benefits in the Cloud·Sharing Soochow University" and the campus digital renminbi activity. Soochow University has realized that the Bank of Communications business outlets and ATM machines on campus can handle digital renminbi business, faculty and staff can use digital renminbi for financial reimbursement and salary payment, as well as payment of tuition and training fees, supermarkets, stores and online platforms. All scenarios support the use of digital renminbi. In addition, Suzhou University and the Bank of Communications also promoted more scenarios such as canteens, dormitory water and electricity, and battery car charging piles.

On April 2, 2021, the launching ceremony of the digital RMB pilot project at Renmin University of China was held. It is reported that at that time, CCB and the National People's Congress Logistics Group reached a cooperation to support the use of digital renminbi settlements in campus souvenir shops for the first time, and gradually opened digital renminbi settlement channels for supermarkets, catering joint ventures and other scenarios.

In September 2020, the first domestic education industry application pilot project led by Suzhou Branch of Bank of China and undertaken by New Cape—the digital renminbi pilot project of Nanjing Normal University Suzhou Experimental School uses a whitelist to connect digital renminbi scenarios. The RMB App opens an account, signs a contract with the campus card, supports multiple transaction methods such as QR code, campus card, and face recognition, and realizes payment in on-campus restaurants, laundry rooms, and supermarkets.

As a typical closed mobile payment scenario, colleges and universities are also good digital RMB pilot scenarios. the reason is:

As a closed scenario, college pilots are relatively controllable;

Colleges and universities are like a "small society", covering food, housing, transportation and other aspects, and problems can be found in time through pilot projects;

Many schools are carrying out informatization construction and building smart campuses, which do not require service fees and support dual offline payments. The digital renminbi with the characteristics of payment as settlement, controllable anonymity, and loose account coupling can play a certain role in it;

Colleges and universities are relatively densely populated, and the frequency of mobile payment transactions is relatively high;

College students have more leisure consumption time and greater consumption potential;

Teachers and students in colleges and universities have a high degree of acceptance of new things and are relatively more willing to try new payment platforms.

Behind the construction of digital renminbi application scenarios in colleges and universities, campus system service providers play a greater role. According to the mobile payment network, such service providers mainly include Xinkaipu, Zhengyuan Wisdom, Xinzhongxin, and Smart Electronics.

The 2021 annual report shows that New Cape began to connect with banks as early as 2019, planning the application of digital renminbi in closed scenarios such as campuses. Due to the accumulation of certain advantages in product technology, customers and scenarios in the early stage, it is more feasible to popularize digital RMB wallets on campus and upgrade terminal equipment.

During the reporting period, the construction of the digital renminbi application scene of "Haida One School Link" provided by Xinkaipu with technical support was launched. On the basis of the original, a one-card application based on digital renminbi was added.

In December 2021, New Cape signed the "Digital RMB Cooperation Framework Agreement" with Bank of China, and will carry out closed trial cooperation on digital RMB. The home accesses the sub-wallet application of the digital RMB App.

It is reported that New Cape has built digital RMB projects for universities such as Xidian University, Hainan University, Sanya University, Shanghai Business School, Hebei Institute of Architectural Engineering, Suzhou Industrial Vocational and Technical College, as well as Suzhou Experimental School of Nanjing Normal University, Changsha City Zhounan Meixi Lake Middle School, Mingde Huaxing Middle School and other primary and secondary school projects.

Zhengyuan Wisdom’s annual report shows that in March 2021, it reached a cooperation with the Central Bank’s Digital Currency Research Institute to jointly promote the innovative application of digital renminbi in smart payment scenarios such as campuses.

In September 2021, the digital renminbi application of Southwestern University of Finance and Economics will be launched, which is the first university digital renminbi construction project of Zhengyuan Wisdom. Since then, the digital renminbi projects of Soochow University, Hainan Normal University, Qingdao Engineering Vocational College, and Hunan Police Academy have been completed successively.

With the announcement of the third batch of pilot areas, the pilot sites created by Zhengyuan Wisdom in Zhejiang Province are blooming everywhere. Among them, Zhejiang University of Traditional Chinese Medicine, Zhejiang Tourism Vocational College, Zhejiang Media College, Wenzhou Institute of Technology, Zhejiang Security Vocational Technical College and other colleges and universities have been launched. China Jiliang University, Zhejiang Technology and Business University, Zhejiang Communication Vocational College, etc. have reached cooperation with banks.

The person in charge of Zhengyuan Wisdom Digital RMB Technology said that there is a lot of "imaginative space" for the innovative application of digital RMB, especially the smart contract. For example, when schools distribute scholarships and bursaries, they can agree on their targeted use scenarios to guide students to consume rationally.

Xinzhongxin and Zhizhi Electronics have not yet been listed, and there is very little information about the application of digital renminbi.

This year, Xinzhongxin cooperated with the Bank of China to conduct digital currency debugging at Shanghai Jiaotong University, laying the foundation for the upcoming new project. It is reported that Xinzhongxin announced in early 2022 the completion of the Pre-IPO round of financing exceeding 100 million yuan. Shen Jianguang, general manager of Xinzhongxin, once introduced that the company accounts for about 60% of the market share of top 985 and 211 universities.

Wisdom Electronics stated in September 2021 that its first digital renminbi project in cooperation with the Bank of China was successfully accepted in Shanghai. Wisdom Electronics has mastered the ability to implement digital renminbi applications, and will accelerate the promotion of digital renminbi application scenarios on campus.

In the future, the mobile payment network will continue to pay attention to what innovative applications the digital renminbi that can be loaded with smart contracts will bring to colleges and universities.