Petal payment is here! Does Huawei want to compete with Alipay WeChat?

The renaming of Huawei payment institutions has attracted strong market attention. Recently, the central bank website showed that it has agreed to change the company name of Huawei's payment company Shenzhen Xunlian Zhifu Network Co

The renaming of Huawei payment institutions has attracted strong market attention. Recently, the central bank website showed that it has agreed to change the company name of Huawei's payment company Shenzhen Xunlian Zhifu Network Co., Ltd. (hereinafter referred to as Xunlian Zhifu) to "Huaban Payment (Shenzhen) Co., Ltd.". Does Huawei want to compete with Alipay and WeChat? What changes will the payment market experience in the future? Yangzi Evening News/Ziniu News interviewed multiple experts, who believe that Huawei's "ambition" is not just about retail payments.

Enter the "Huawei Wallet" activation, supporting 91 banks to bind cards

Huawei's renaming was premeditated. According to Tianyancha, as early as October 21, 2020, Huawei Technology Co., Ltd. applied for the "Petal Payment" trademark, which is internationally classified as "36 Financial Property Management". According to the National Enterprise Credit Information Publicity System, the investor column of Xunlian Zhifu shows that on December 21, 2020, Shanghai Wario Information Technology Co., Ltd. held 100.00% of the shares, which was changed to Huawei Technology Co., Ltd. holding 100.00%. On June 21, 2022, Huawei's "Petal Payment" trademark was successfully registered. The central bank's website shows that the business types of Xunlian Smart Pay are "internet payment, mobile phone payment".

On October 17th, Yangzi Evening News/Ziniu News reporters opened the "Huawei Wallet" on Huawei phones and clicked on "Huawei Payment" in the menu bar. The page reminded that it supports binding bank cards from 91 banks. Bank of China, China Merchants Bank, Industrial and Commercial Bank of China, Agricultural Bank of China, and other first-time card binding offers discounts. The page has entrances for "bills" and "red envelope coupons".

Page introduction: Huawei Pay provides services such as balance payment, bank card payment, red envelope, recharge, and withdrawal. Supporting consumer scenarios include thousands of cooperative enterprises such as Xiaomang E-commerce, Mango TV, EasyGo, Youdao Cloud Notes, Himalayan boutique reading, and Lazy People Listening.

It is worth noting that the current usage rate of "Huawei Wallet" is already very high, because Huawei mobile phone users are enthusiastic about using the key function of "Huawei Wallet". By adding a physical access card to "Huawei Wallet", they can use their phone to "touch" the door, and no longer need to bring a physical access card when going to the company or returning home. According to Huawei's 2022 annual report, the monthly active users of "Huawei Wallet" exceeded 100 million.

Huawei's response to the renaming is essentially to accelerate the construction of the Hongmeng ecosystem

On October 17th, Huawei explained several considerations behind the renaming of Xunlian Zhifu to the media through WeChat. Firstly, the essence is to accelerate the construction of the infrastructure for the Hongmeng ecosystem, as Huawei Pay targets multiple terminals across the entire scene; Secondly, the newly upgraded "negative one screen" will fully support Huawei payment in the future, which is also an important step in promoting Hongmengyuan services.

According to Huawei, after the upgrade of the "negative one screen", Huawei has intuitively arranged common services such as air tickets, hotels, train tickets, movie tickets, and recharge in a grid format. Currently, there are four major sectors: local life, smart travel, shopping and entertainment, and financial management. The ones that have been connected to Huawei Pay now include Didi Travel, Cat's Eye Movie, mobile phone recharge, and nearby refueling.

Huawei Pay may change people's payment habits. The reporter from Yangzi Evening News/Ziniu News noticed that compared with Alipay and WeChat, Huawei's innovation in payment is based on Huawei's intelligent hardware and Hongmeng ecology, and has launched a number of innovative applications such as "pay without opening the APP". At present, Huawei Pay mainly offers several payment methods, including card code integration payment, "touch and touch" NFC label payment, and online payment. Taking "Smart Payment" as an example, in the video shared by Huawei users, the Huawei phone is aimed at the payment device and kept at a distance of 15 centimeters. The camera and sensor technology can intelligently recognize, automatically pop up payment codes, and quickly complete the payment.

The payment market is changing, ushering in a "four part world" pattern?

In recent years, payment licenses have become a new competitive arena for major internet and industry giants. At present, WeChat payment and Alipay have occupied more than 90% of the domestic payment market. The industry is quite concerned about how "petal payment" will stir up the market?

In an interview with the Yangtze Evening News/Ziniu News, Guo Tao, an angel investor and a senior AI expert, believed that Huawei Payment (Petal Payment) would rely on Huawei's huge ecosystem, such as the Hongmeng operating system, mobile phones and wearables, to rapidly increase its market share and payment scale, and Alipay and WeChat would welcome the strongest competitors in history. In the future, China's mobile payment market is expected to break the "duopoly" pattern, and form a "four part world" situation of Alipay, Tenpay, Huawei Payment and UnionPay Cloud Flash Payment.

Famous commentator Xie Xiaowen told Yangzi Evening News/Ziniu News reporters that Huawei's involvement in the payment field is to seize opportunities in the digital economy era, extend its ecosystem, and achieve a full industrial chain layout. Compared with WeChat Alipay, Huawei has certain advantages in terms of technical strength and global business layout. Its mobile phone sales are relatively high globally, and the popularity of mobile phones as payment terminals has brought huge payment potential. Moreover, Huawei, with its technological accumulation and close cooperation with operators and retailers, can provide more powerful resources and scenario entrances for payment services, such as smart watches and "mobile payment". It is expected that in the future, Huawei Pay will likely leverage its global business network and ecological partners to further explore more payment scenarios, strengthen user experience and strategic alliances with operators, and form a new pole in the payment field. (Yangzi Evening News/Ziniu News reporter Xu Jing)

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