Huawei and state-run bank-card processor China UnionPay will together introduce a new mobile payment service called Huawei Pay, the Wall Street Journal reported. Huawei launched the payment service on a pilot basis in September and will now expanded it to a large number of Huawei handset users.
Users of Huawei smartphones equipped with a fingerprint sensor as well as NFC data-transmission technology, will be able to download a Huawei Pay app to use the service. Every payment made with Huawei Pay requires a fingerprint scan to make the transaction more secure. The number of Huawei phones with NFC and fingerprint sensors is expected to increase.
UnionPay, which holds a monopoly on bank-card payments in the country, also works with Apple Pay, which launched in China last month. China has 620 million mobile internet users, and the number of people using mobile payments increased more than 60 percent last year to 357 million, according to the state-backed China Internet Network Information Center.
