Huawei Launches Digital Payment Cloud Solutionby Fintech News Hong Kong August 12, 2020
Huawei launched a new digital payment cloud solution designed to help digital payment service operators build super app centered payment ecosystems for digital financial inclusion in emerging markets.
Huawei said that it had successfully tested the new system in Myanmar by partnering with KBZ Bank to launch KBZPay where its transaction value reached over US$7 billion. Within 18 months, the service grew to six million registered users, over 1000 partners, and more than 290 thousand merchants.
Its digital payment cloud solution brings value to payment operators by providing what it claims to be an “extremely digital experience”. With the digital architecture, both user and transaction data can be opened in real time, ensuring real-time query experience for users and merchants. In addition, real-time risk control can be built based on AI analysis capabilities to identify fake transactions and avoid cash-out risks.
They said this solution provides API, H5, mini apps, and UI bricks technologies that enable partners to launch the service on super app within one week and marketing campaigns from idea to launch within three weeks.
Also, with a cloud native platform, the solution supports container/micro-service, auto-scaling, grayscale release, and enables software updates in days.
“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.”
said Ryan Wu, Director of Huawei Software Marketing & Solution Sales Dept.
Featured image: Ryan Wu, Director of Huawei Software Marketing & Solution Sales Dept.