The agreement is expected to expand XPay's digital payment infrastructure by integrating Huawei's cloud technology. In the official press release, representatives from XPay indicated that the firm’s recent results reflect the confidence that businesses have shown in its scalable services. They also noted that the number of merchants using its services grew by 75%, driving a 250% increase in total payment volume and a 340% rise in transaction numbers, with an 83% success rate.
XPay is also focused on supporting financial inclusion by offering a variety of payment methods, including Apple Pay, credit and debit cards, mobile wallets, and integrations with local providers such as Fawry, Aman, and Valu. The company holds regulatory approvals with licences from Banque Misr and the National Bank of Egypt and maintains a partnership with Crédit Agricole.
Recent reports show that Huawei Cloud Services has been intensifying its collaborations within the fintech sector. For instance, in August 2024, the company co-hosted a Fintech Day in Saudi Arabia with Fintech Saudi, during which it launched the Fintech Pioneer Programme to incentivise new fintech solutions and support digital transformation in financial services.
Under its Financial Partner Go Global Programme, Huawei has partnered with firms such as Sunline. A notable case involves UnionDigital Bank in the Philippines, which migrated its core banking system to the cloud in just 35 days, an effort aimed at expanding access to financial services for underserved communities.
Additionally, according to Reuters, Huawei Cloud’s notable business growth in regions such as South Africa, where its customer base in sectors including financial services has increased significantly, highlights its expanding role as a cloud partner in the digital finance landscape.
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