The Bank of Communications and China Construction Bank have reportedly carried out digital yuan pilot testing at two big Shanghai-based department stores. 

Specifically, the trials were reportedly conducted at New World City and New World Daimaru Department Store, with food catering entity Taikang Food Store in charge of finalizing thousands of digital yuan transactions. 

As included in the pilot phase, the retailers will reportedly make digital yuan payments available, as part of a sales campaign, in line with International Women’s Day.

Brand director of Shanghai New World Li Wei reportedly remarked that the company has made contact with commercial banks to promote discounts, as part of the campaign.

“We have worked to upgrade the digital payment module ahead of the trial program, and we believe it offered extra stimulus for shoppers on top of the existing sales campaign,” Li reportedly claimed. 

Top-tier China-based banks, including the Bank of Communications and China Construction Bank have reportedly been the participants of the testing phase, via equipping retailers with virtual coupons to be offered to clients carrying out digital yuan-enabled payment as rewards. 

Particularly, the Bank of Communications reportedly issued 100 yuan ($15) coupons to 6,500 local shoppers, whereas China Construction Bank made 150 yuan ($23) coupons available to 2,000 customers, when they conducted purchases exceeding 380 yuan ($58).

It is reportedly mandatory for all joined individuals to visit pre-selected local branches of the bank to finalize the registration for the trial, as well as adding a digital yuan application on their smartphones.

As Shanghai continues to bring its digital yuan pilots up to speed, the city will reportedly be likely to make the new payment method available throughout every merchant on Nanjing Pedestrian Road Mall, during the upcoming shopping season in May this year.