Recently, Huawei underwent a significant industrial and commercial transformation by changing its corporate name from Shenzhen Xunlian Zhipay Network Co., Ltd. to Petal Payment (Shenzhen) Co., Ltd. This move, which drew widespread attention in the industry, marked Huawei’s official entry into the payment field as it became the sole shareholder of Shenzhen Xunlian Zhipay Network Co., Ltd. as early as March 2021.
Huawei Enters the Payment Field
Founded in June 2013, Huawei Technologies Co., Ltd wholly owns Petal Payment (Shenzhen) Co., Ltd. The company actively engages in electronic payment, develops payment settlement and clearing system technology, provides technical consulting services, and offers a range of services including Internet payment, mobile phone payment, and digital TV payment.
Reports indicate that Huawei’s payment positioning goes beyond mobile payment; it aims to create a full-scenario payment platform. As the underlying infrastructure of the Hongmeng ecosystem, Huawei Pay will be closely integrated with the Hongmeng system to establish a complete closed business loop between developers and partners. This integration enables payment operations on various Huawei terminal devices to seamlessly transfer to mobile phones, providing users with a more convenient and secure payment experience.
Notably, Huawei applied for the “Petal Payment” trademark in October 2020, covering diverse fields such as real estate management, electronic transfers, and online banking. This move reflects Huawei’s comprehensive strategic planning for the future of the payment industry. Huawei has officially launched Huawei Pay in 2022, integrating it with Huawei applications such as Huawei Music, Huawei Video, Huawei Reading, Mango TV, Youdao Cloud Notes, PP Video, and some third-party applications.
Huawei Wallet Reaches 100 Million Monthly Active Users
Furthermore, according to rotating chairman Mr. Hu Houkun, the number of monthly active users of Huawei Wallet has surpassed 100 million. This achievement not only underscores Huawei’s significant position in the consumer market but also demonstrates the trust and support consumers have in Huawei products.
In summary, Huawei’s acquisition of Shenzhen Xunlian Zhipay Network Co., Ltd. and its subsequent rebranding to Petal Payment (Shenzhen) Co., Ltd. has strengthened its foothold in the payment field. This strategic move not only contributes to the development of Huawei’s Hongmeng ecosystem but also opens up new business opportunities and possibilities for the company. Looking ahead, we can anticipate further innovation and development in the realm of Huawei Pay.
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