Huawei is turning all its smartphones to Point-of-Sale (POS) machines based on the NFC technology, which means potentially hundreds of millions of POS machines. Merchants only need to activate online billing service to receive payment without any traditional POS machine or QR code.
Huawei Pay made its debut on August 31, 2016, under a joint branding of Huawei and China UnionPay. On January 26, 2018, Huawei teamed up with UnionPay International to promote Huawei Pay globalization and accelerate overseas implementation.
Under this agreement, Huawei and Honor smartphone users outside China are able to make a quick payment simply by placing phones near a UnionPay-supported POS terminal, which could be another NFC enabled smartphone or an NFC tag.
As the first domestic provider of security chip-based mobile payment, Huawei Pay has so far been available with 66 banks and compatible with 20 mobile models. The transactions made through Huawei Pay exceeded 4 billion yuan in 2017.
Already subscribed? Sign in.
Don't Miss Out.
Invest with as little as one bottle of water per week.
Join other top analysts and business executives and navigate the unique market with China Internet Watch.
Cancel at any time