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Huawei launches mobile money solution to enable service providers' entry into financial services.

Huawei Launches Mobile Money Portfolio

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6/6/2014
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NICE, France -- Huawei, a leading global information and communications technology (ICT) solutions provider, today announced the launch of its Mobile Money (MM) solution at the Digital Telco Forum, a Huawei-hosted seminar attended by global operators and TMF, in Nice, France. The highly flexible and reliable MM solution enables the development of a robust mobile financial ecosystem for global operators which is compatible with all types of mobile phones and can easily be integrated with Huawei partner IT systems.

With the advent of mobile Internet and e-commerce, mobile financial services have flourished by providing users with convenience, efficiency and a truly real-time experience. It is predicted that by the end of 2016, there will be 448 million mobile money users with a transaction volume exceeding 620 billion.

Huawei has long been committed to focusing on developing mobile financial solutions. Indicative of that commitment, Huawei has conducted thorough research and analysis of the unique value and competitive advantages of Communication Service Providers (CSPs). Huawei's innovative MM solution enables CSPs to create an open ecosystem in the mobile financial arena which consists of the following three major sub-solutions:

  • Mobile banking solution: For markets where there are not enough bank branches to meet local demand, CSPs can utilize existing business channels and service outlets to provide convenient mobile transfers, access to cash, and domestic and international remittance services.
  • Mobile payment solution: CSPs can utilize open payment platform compatible with a wide range of banks and merchants that creates a vast payment network system for customers and businesses, providing convenient remote and near field communication (NFC) payment services.
  • Mobile market solution: CSPs can utilize a future-oriented mobile commerce platform to provide commodity catalogues, shopping guides, commodity promotion and advertising services.

    "Mobile financial services are a blue ocean market. We believe in reliability, high performance, fast integration capabilities, flexible business processing and safe and convenient user access as key factors for CSPs to successfully establish a competitive advantage in this ecosystem. We are confident that our MM solution is an ideal opportunity for us to work with CSPs to create a win-win ecosystem in the digital economy", said Mr. Tang Jie, Director of Huawei Revenue Management Consulting.

    As Huawei's top strategic innovative solution, the Mobile Money solution was first recognized by the Vodafone Group in November 2012 when it signed a strategic cooperation framework agreement with Huawei to offer M-PESA services for its 13 subnets. The Romania subnet was the first subnet to officially launch the M-PESA commercially on March 31, 2014.

    Huawei Technologies Co. Ltd.

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