Huawei Launches Digital Payment Cloud Solution The solution will help digital payment service operators build super app centered payment ecosystems that will accelerate digital financial inclusion in emerging markets

By Debarghya Sil

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Chinese multinational technology company Huawei on Thursday announced the launch of a new digital payment cloud solution to help digital payment service operators build super app centered payment ecosystems that will accelerate digital financial inclusion in emerging markets. The announcement was made at its Better World Summit 2020.

Huawei's digital payment cloud solution brings value to payment operators from three aspects. Firstly, it will provide "extreme digital experience' which will allow the opening of both user and transaction data in real-time, ensuring real-time query experience for users and merchants. Secondly, it will expedite service TTM with the help of solutions like application programming interface (API), H5, mini apps, and UI bricks. And at last, the solutions will provide agile interactions.

"According to GSMA, mobile money today has over 1 billion registered users after more than 10 years of development," said Ryan Wu, director of Huawei software marketing and solution sales department.

"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. Super app is a critical platform and engagement point for ecosystem partners and provides an efficient merchant marketplace. 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."

In Myanmar, Huawei has cooperated with KBZ Bank to launch KBZPay and within 18 months successfully grew the service to six million registered users, over 1000 partners, and more than 290 thousand merchants.

Founded in 1987, Huawei is a private company wholly owned by its employees and currently has more than 194,000 employees. The company operates in more than 170 countries and regions.

Debarghya Sil

Entrepreneur Staff

Former Correspondent

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