Huawei launched financial inclusion solutions with mobile payments and microfinance at Huawei Connect 2021. huawei payment app financial institutions provide fast and affordable services, bringing the world one step closer to financial inclusion. Huawei will continue to work with ecosystem partners and use new ICT to support mobile payments and build a thriving business ecosystem.
Banks are using mobile payments and microfinance solutions, including cloud technology and SaaS, to build tailored business models and a thriving ecosystem on super apps. Huawei’s financial inclusion solution covers mobile wallet, mobile payment platform, open super application framework and financial product platforms. With these, banks can quickly introduce various financial services.
At Huawei Connect 2021, Huawei addressed the future of digital transformation across industries from three perspectives: scenarios, models and ecosystems. Huawei launched 11 new industry solutions, one of which is mobile payments and microfinance. The latter uses new technologies to help financial institutions around the world accelerate mobile payments; connect users, merchants, distribution partners and developers; and build a thriving ecosystem.
Super App Connects Users And Merchants
Huawei provides multi-channel technologies that help banks reach their customers faster and at a lower cost. Huawei also supports smaller merchants in upgrading their digital operations through customized applications; this also helps banks outside of China develop agent networks to reach customers online and offline. With Huawei solutions, financial institutions can design a complete online customer journey and ensure a better customer experience.
Financial Products Platform Connects Users And Investors
Operators outside of China have a huge number of users, so they have a driving force for business growth and a prerequisite for monetization. However, they lack a platform to connect with banks. The financial products platform helps carriers refer users to banks, which can then provide embedded financial products directly to users.
A Developer Platform Helps Build An Ecosystem
There are several types of developers, including developers of leading global service systems, local services, and intermediary services such as small plug-ins. Huawei provides a SaaS cloud solution that supports iterative innovation and open APIs. This allows other SaaS partners and various ecosystem players to connect to the Huawei Cloud platform. Banks and partners can easily explore new services and quickly aggregate diverse ecosystems to successfully launch joint projects.
Huawei’s financial inclusion solutions have already been successfully implemented in several countries. In Kenya, Huawei has partnered with Safaricom – the largest local carrier – to build a payment brand called M-Pesa. The platform not only supports bank transfers but also offers several services for everyday life. At the same time, it helps KCB Bank, NCBA Bank and Safaricom provide micro and small loans to individuals and businessmen. In the market for 14 years, M-Pesa has significantly contributed to increasing financial inclusion in Kenya, which has shot up from 23% to 85%.
Huawei aims to provide convenient and diverse financial services for everyone. Using its advanced connectivity and platforms, Huawei helps financial institutions build digital business processes, implement digital financial inclusion services, and achieve sustainable financial development.
