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

By Joy Dumasia

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.