back Back

Huawei and MuRong jointly release the Mobile Payment and Micro Finance Solution

By Joy Dumasia

July 25, 2022

  • Asia
  • Cashless Payments
  • Contactless Payments
Share

Huawei and Murong release the Mobile Payment and Micro Finance Solution. This solution reflects the technologies innovation for inclusive finance, which makes inclusion possible to meet the opportunities and challenges of the Financial Industry.

Digital transformation and innovation are developing rapidly. The opportunities and challenges coexist in the post-pandemic era, like cashless, cardless, contactless, etc. The number of mobile wallet users has grown rapidly. The Mobile Payment market scale expects to increase to 1.3 Billon by 2023, surpassing credit cards and cash with rapid adoption. The FinTech investments and innovation are increasing year by year. In one word, the requirement to Mobile Finance and Micro Finance is becoming necessary to the people and connecting the diversified lifestyle.

Huawei and MuRong released this joint solution for Mobile Payment and Micro Finance to help banks to build a “1+4+7” end-to-end solution. “1” means a Cloud-Native platform, which is provided by Huawei, “4” demonstrates the 4 types of financial applications, which are Micro Saving, Micro Loan, Mobile Payment and Digital Marketing. These applications are operated on the MuRong Inclusive finance service platform, “7” includes specific products, which are SuperAPP, Micro Saving, Micro Loan, Open Banking, Digital Payment, Digital Marketing and Digital Operating.

Global Senior Consultant of MuRong Technology Solution Center, Han Yidong, said: “MuRong is the global leading provider of digital financial IT solutions, we have cooperated with Huawei to integrate digital technology innovation to explore the markets of inclusive finance.”

“Looking back the journey of cooperation between Huawei and Murong, the concrete achievements have already been reached. Furthermore, the joint innovative solutions also is in progress, expecting more cooperation with MuRong to create new value together for our customer,” said Song Danping, President of Global Ecosystem Cooperation, Huawei Global Digital Finance.

Recently, IBS Intelligence reported that During Huawei Intelligent Finance Summit 2022, Huawei launched the Digital Banking 2.0 solution leveraging Temenos open platform and discussed with customers and top partners in the financial industry about how to build a cloud-native architecture to achieve business agility and industry innovation.

Previous Article

July 25, 2022

UPI and PostBank Uganda partner to enhance digital financial inclusion in Uganda

Read More
Next Article

July 26, 2022

Hometap appoints Eugene Wong as its Chief Financial Officer

Read More






IBSi Daily News Analysis

UAE, money transfer

May 23, 2024

Asia

By 2034, the digital remittance market is expected to reach $83.2bn, research reveals

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

May 23, 2024

Octopus Energy to offer BNPL payments with Zopa Bank

Read More

May 23, 2024

4 Wearable PayTech firms enabling cashless payments in Europe

Read More

May 23, 2024

Vitesse secures $93m in Series C Funding to fuel US expansion

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023