Huawei releases digital payment cloud solution globally

The plan is designed to help digital payment operators build a payment ecosystem with super applications (App) as the core, and accelerate inclusive finance in emerging markets.

Recently, Huawei released its digital payment cloud solution at a global online summit.

The plan is designed to help digital payment operators build a payment ecosystem with super applications (App) as the core, and accelerate inclusive finance in emerging markets.

According to GSMA data, after more than ten years of development, the Mobile Money business has more than 1 billion registered users worldwide, but payment to merchants is still in its initial state, said Ryan Wu, Director of Huawei Software Marketing and Solution Sales Department .

He said that this is because the key to the success of the merchant-oriented payment business lies in the ecology, and the super app is crucial as the entrance and platform of the ecology.

Huawei and KBZ Bank launched KBZPay in Myanmar. In just 18 months, it has developed 6 million registered users, more than 1,000 partners, more than 290,000 merchants, and accumulated transaction value of US$7 billion, making it the number one mobile payment market operator in Myanmar .

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/06/huawei-releases-digital-payment-cloud-solution-globally/.

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