Huawei launches new digital payment cloud solution

By Edil Corneille

Huawei has announced the launch of its 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. In Myanmar, Huawei has cooperated with KBZ Bank to launch KBZPay and within 18 months, the service grew to 6 million registered users, over 1,000 partners, and more than 290 thousand merchants. KBZPay’s transaction value has reached over $7 billion.

The solution is said to bring value to payment operators from three aspects:

• Digital experience: With the digital architecture, both user and transaction data can be opened in real-time, thereby 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.
• Expedite service time to market: With the open ecosystem, the solution provides API (application programming interface), H5, mini-apps, and UI bricks technologies that enable partners to launch the service on a super app within a week and marketing campaigns from idea to launch within 3 weeks.
• Agile iteration: With a cloud-native platform, the solution supports container/ micro-service, auto-scaling, grayscale release, and enables software updates in days.

“According to GSMA, mobile money today has over 1 billion registered users after more than 10 years of development,” said Ryan Wu, Director of Software Marketing and Solution Sales Dept., Huawei. “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.”