Huawei has entered into an agreement with UnionPay International with an aim to promote the globalisation of Huawei Pay and accelerate its roll-out worldwide.
As China’s first security chip-based mobile payment service, Huawei Pay is already supported by 66 banks and is compatible with 20 mobile devices, including various mobile phones and smart watches. In 2017, 4 billion RMB($630 million) worth of payments were made using Huawei Pay.
In future, Huawei and Honor mobile phone users outside of China can make quick and easy mobile payments by adding their UnionPay bank cards to a phone that has enabled Huawei Pay and then placing their phone next to a POS machine that supports UnionPay mobile QuickPass. For security, Huawei Pay uses the all-device solution, as well as payment token technology to effectively protect cardholders’ privacy and data security.
Alex Zhang, president of Huawei Consumer Cloud Service, said: “Open sharing is an important direction for the future of the digital economy and intellectual interconnection, which is why Huawei’s end-user cloud services built an open and globalised smart mobile ecosystem for the end-user experience. Huawei hopes to work with partners such as UnionPay International to provide more secure and convenient mobile payment services for every user of Huawei smart devices around the world.”
Larry Wang, VP of UnionPay International said: “This cooperation with Huawei is of great significance. Firstly, with this agreement, the two sides realise cooperation on a global scale, and issuers outside mainland China can now launch Huawei Pay Pay-as-you-go once connected to the UnionPay Mobile Service Platform, which greatly saves time and costs. Secondly, UnionPay’s innovative products are an important propeller for the business localization of the two parties, and it supports payment upgrades in more countries and regions. Thirdly, cooperation between the two giants will jointly enhance the global influence of China’s independent mobile payment apps.”
The first oversea market to implement the service would be Russia.