by Ling Cao
A total of 200,000 DCEP (Digital Currency Electronic Payment) red envelopes will be issued to Chengdu residents by Chengdu Municipal Government and JD.com. Each envelope equals to either RMB 178 yuan or RMB 238 yuan, and will be issued randomly.
This is the first DCEP consumption envelope test run in western China, with technology and services provided by JD Technology, a business group under JD.com focusing on using technology to serve industrial business.
Residents can apply for the envelopes via a local app servicing citizens or through the JD app from 8:00 am on Feb.24 to 24:00:00 on Feb. 25, and will have opportunities to win the lottery from Feb. 26 to Mar. 2. The envelopes will be officially issued at 00:00 o’clock on Mar. 3 and valid for use until 24:00:00, Mar. 19.
The fund can be used at designated stores online and offline, and JD will provide support for the online channel. Over 12,000 local stores will join the offline initiative, covering popular scenic spots, food and beverage, supermarket chains, as well as JD 5STAR stores, JD’s home appliance, computer and digital experience stores.
Fei Peng, head of the DCEP program at JD Technology said, “By using frontier technologies such as AI, big data, cloud computing, and through omnichannel, stable customer service capabilities, as well as application experience, JD Technology aims to contribute its efforts in the DCEP’s wallet ecosystem building, supporting local governments’ test runs, and exploring more real scenarios.”
JD Technology has already supported DCEP’s three test runs in Suzhou and Beijing, which have gained experience in operations and solutions, as well as offering new shopping scenarios for customers. JD has now cooperated with six state-owned banks and connected with online scenarios. JD has also helped merchants upgrade their cashier machines and connect them with their stores’ ERP (Enterprise Resource Planning) system, improving efficiency and experience.
A representative from Chengdu’s municipal financial regulatory bureau said, “The initiative is a special event for us in 2021. Going forward, we will cooperate with institutions to create and expand more application methods, in order to increase local residents’ benefits, and promote the whole development of the nation’s DCEP development.”