Huawei boosts efforts to make mobile payments system strong

Huawei has started to boost its efforts in mobile payments systems, making it more flexible. The company recently announced the entry passes of the Huawei Developer Conference 2021 (Together) can be purchased via its online transaction platform- Huawei Pay.

In 2016, this Shenzhen-based company initiated the Huawei Pay service incorporation with China UnionPay. Later when the Huawei Mate 40 smartphone debuted, it introduced digital yuan hardware wallet support in alliance with China central Bank.

As time goes, the Chinese tech giant accelerates its activity in the online payment sector. In this line, it obtained a nationwide mobile payment service license in March this year. The company fully owned the Xunlian Zhipay with 100% shares and becomes its new sharer.

Afterward, the company counted among few Chinese firms such as smartphone maker Xiaomi, ByteDance, and online retailer Pinduoduo to acquire payment licenses. In addition, it can save a large number of third-party fees.

However, Huawei had years of presence in the mobile payments sector, but its main focus was on the smartphone market. But the US Sanction weakens its smartphone business, which leads the company to try new markets such as the automobile industry, and online payment, etc.

Thus, it’s renovating its efforts, and bringing more convenience for its users. On the account of this fact, the market analyzer predicts Huawei Pay has enough potential to compete against industry rulers Alipay and WeChat Pay.

(Via- SCMP)