Huawei has entered the cloud-based digital payment space.
Citing data from GSMA, an industry group representing mobile operators, Huawei Software Marketing and Sales Department Director Ryan Wu said in a prepared statement: “Mobile money today has over one billion registered users after more than 10 years of development. However, merchant payment is still at its infancy. We all know that the key to success in the mobile payment business relies on the ecosystem … Huawei’s digital payment cloud is designed to provide a payment platform and super app that helps mobile payment operators build an ecosystem quickly and efficiently.”
Huawei said in an Aug. 6 news release that one selling point for the new system is an architecture that allows a “real-time query experience for users and merchants.”
“Both user and transaction data can be opened in real time,” Huawei wrote in its release, adding that the system also offers “real-time risk control.”
Huawei said it successfully tested the new system in Myanmar.
Based in Shenzhen, Guangdong, China, Huawei posted revenue of about $123 billion in fiscal 2019, the last year for which performance data has been available.
The company already is a significant player in cloud computing as well as communications infrastructure and mobile devices, such as smartphones and tablets.
In some parts of the world, however, Huawei is facing significant political problems – at least some of which began with a fight, ostensibly over security, with the administration of U.S. President Donald Trump.
Russ Vought, acting director of the White House Office of Management and Budget, last month told Reuters in a prepared statement: “The danger our nation faces from foreign adversaries like China looking to infiltrate our systems is great. The Trump administration is keeping our government strong against nefarious networks like Huawei by fully implementing the ban on federal procurement.”
In other news, the United Kingdom recently ordered that Huawei equipment eventually be expunged from its 5G network.
August 07, 2020 at 11:36PM
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Huawei Unveils Cloud-based Payments Product - pymnts.com
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