Handset maker Huawei has announced the launch of its Huawei Pay NFC-based mobile payment service in China, in collaboration with bankcard association China UnionPay and support from 25 of the country’s banks. The service makes use of fingerprint authentication and tokenization and is available on Huawei Mate S, Honor 8 and Honor V8 handsets with support from other handsets expected “in the future”.
The initial list of supporting banks is as follows: Industrial and Commercial Bank of China, Bank of China, China Construction Bank, Bank of Communications, CITIC Bank, China Everbright Bank, Hua Xia Bank, China Minsheng Bank, China Merchants Bank, Industrial Bank, Guangdong Development Bank, Ping An Bank, Shanghai Pudong Development Bank, Bank of Beijing, Bank of Shanghai, Jiangsu, Bank of East Asia, Bank of Nanjing, Merchants Bank, Guangzhou Rural Commercial Bank, Bank of Contractors, Bank of Changsha , Shunde Rural Commercial Bank, Bank of Jiangxi and Bank of Lanzhou.
The Agricultural Bank of China and Postal Savings Bank of China are also expected to add their support.
Huawei Pay was unveiled in March 2016. Further details of the service, including the company’s partnership with China UnionPay, were revealed later in the same month.
Source: www.nfcworld.com
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
