Among other benefits, the solution enables seamless reconciliation by providing consolidated merchant reports with itemised e-CNY transactions — with the report accessible via DBS IDEAL, the bank’s digital platform for business banking.
DBS (SGX:D05
) has launched an e-CNY merchant collection solution in China, one of the first foreign banks there to do so.
The solution allows corporate clients of DBS China to collect payments from their customers in e-CNY, China’s central bank digital currency (CBDC) and leverage on the automated settlement of e-CNY directly into their CNY bank deposit account.
