China’s leading smartphone maker Huawei announced their cooperation with bankcard association China UnionPay (CUP) for mobile payment on Monday, taking another step towards launching Huawei Pay.
Richard Yu, CEO of Huawei’s Consumer Business Group, said that CUP’s new payment technology and product concept match with Huawei’s terminal intelligence, and their cooperation would make mobile payment easier and safer.
“We will join hands with CUP to build a mobile payment system based on products including mobile terminals, wearable devices and smart homes,” Yu wrote on his Sina Weibo on Monday.
This means consumers will be able to use and manage their CUP cards on Huawei mobile devices with Huawei Pay service. After downloading their CUP card information to their mobile devices (over-the-air card issuing) via CUP’s Trusted Service Management platform, Huawei users can use CUP’s cloud-based Quick Pass service to make offline contactless payments and online remote payments.
Huawei has a big user base for its payment service. The company has become the largest smartphone maker in China. According to a February report by American research firm IDC, Huawei ranked first among the top five smartphone vendors in Q4 2015, with 17.9 million shipments.
But Huawei Pay still faces competition. Apple Pay was launched in China and Samsung is testing its own payment service in China. Domestically, Alibaba’s Alipay and WeChat’s payment service occupy the largest market share in China.
Huawei previously announced a partnership with the Bank of China, one of China’s largest state-run banks, for its payment service in March.
When Huawei Pay will be launched has yet to be confirmed.
(Top photo from techtimes.com)