Technology company Huawei’s Digital Payment Cloud Solution aims to help merchants jumpstart their mobile payment apps. Unveiled during the corporation’s “Better World Summit 2020” held recently, the latest addition to its roster of products and services “will accelerate digital financial inclusion in emerging markets.”
“Merchant payment is still at its infancy,” said Ryan Wu, director of Huawei Software Marketing & Solution Sales Department. “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.”
Huawei has been working with Myanmar’s KBZ Bank for KBZPay which now has 6 million registered users, over 1,000 partners after 18 months after the launch. KBZPay’s transaction value has reached over $7 billion.
Huawei’s Digital Payment Cloud Solution promises to offer an “extremely digital experience” with the user and transaction data available in real-time ensuring that queries are accurate at the time accessed. Real-time risk control can be built based on AI (artificial intelligence) analysis capabilities to identify fake transactions and avoid cash-out risks.
The open ecosystem allows companies to launch their apps within “one week” expediting the time to market service.
With a cloud-native platform, the solution supports container and/or micro-service, auto-scaling, grayscale release, and enables software updates in days.