Visa has a competitor: digital yuan (e-CNY)
For decades, Visa has been the exclusive provider of electronic payments at the world's largest sporting event. However, at the Beijing Games this year, Visa is forced to share the championship with China's new digital currency, e-CNY.
It is known that China is at the forefront of digitization of payments, largely thanks to the popular mobile networks Alipay and WeChat, which are managed by Chinese Internet giants Ant Group Co. and Tencent Holdings Ltd.
At the previous Olympic Games, cash and Visa cards were the only permitted forms of payment, although the former were used less frequently at sports venues after the 2004 Olympic Games in Athens.
Crypto California Club – Subscribe
