Huawei acquires mobile payments licence for Chinese market

Wednesday 6 October 2021 15:17 CET | News

China-based tech company Huawei has started to ramp up its mobile payments service after gaining a nationwide licence from a corporate acquisition.

The company has offered participants to its developer conference the option to pay for their tickets via the new Huawei Zhifu function under its Huawei Pay app. Those who use the service are entitled to a USD 7.75 discount

That followed the company’s acquisition of a nationwide mobile payments licence from its purchase of Shenzhen Xunlian Zhifu Network in March 2021, according to a report by China Securities Journal cited by South China Morning Post. Since 2016, the business development of mobile wallet app Huawei Pay mainly relied on the mobile payments service of state-owned UnionPay, the country’s bank card clearing service.

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Keywords: Huawei, mobile payments, contactless payments, WeChat Pay
Categories: Payments & Commerce
Countries: China
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