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Huawei is Leading the Revolution of Online Payment

By ESC Editorial Team, over 5 years ago Business
Huawei is Leading the Revolution of Online Payment

While you may still be excited about how the QR payment has changed the lives of Chinese people, Huawei has begun to take an even more exciting path.

On July 4th, 2018 came the latest news from the Chinese technology industry: Huawei announced its partnership with China’s top banks and UnionPay (a Chinese financial services corporation) to jointly launch a new feature of Huawei Pay – Touch Payment. It allows people to pay without a QR code or a pay application. The only thing the user needs to do is to put a Huawei phone with NFC enabled close to the NFC tag, enter the amount he has to pay and complete the payment by fingerprint or password verification. Merchants will enjoy the convenience of this new online billing service on their phones, replacing QR codes, purchase scanners, POS machines and other devices. On the released demo video by Huawei, we can see how the Huawei Pay works.

According to Huawei, this payment service will be available in first-tier cities such as Beijing, Shanghai, Guangzhou, and Shenzhen starting this month.

What are the advantages of this new payment method over the “traditional” Alipay and Wechat Pay?

First, it is faster and more convenient.

Most people in China use Alipay and Wechat Pay. Before they can pay, they must first open the Alipay or Wechat Pay app and activate the payment function. The QR codes are generated randomly, but if the internet connection is bad people can only fumble with their phones at the cashier counters.

Huawei Pay has solved this problem. Once you have activated the “Touch Payment” function, you can pay by lighting up the screen. Neither pale light nor slightly inaccurate scanning positions can stop the payment process.

Second, it is safer and more reliable.

Huawei Pay is based on the near-field communication technology used on most Huawei phones. Huawei’s self-developed Kirin Chip installs a safe engine called inSE and has proven to be of the same security as bank cards and U Shield, a password protection tool for the online banking business. That means that transaction security is fully guaranteed, even though only password and fingerprint are required. 

What Huawei intends to change is more than just our payment habits and the current digital payment industry. It recently introduced the NFC door-opening technology, which could replace keys. If you go to a hotel in the future, you may not get a room card. Instead, you can enter the room password into the mobile phone and open the door directly. Or when you borrow a car from your friend, you can send the validated vehicle password to your phone.

Huawei wants to further explore the possibilities of near-field communication technology. It is expected to significantly change our daily lives: our carry-on objects, keys, ID cards and bank cards, might all be replaced by one mobile phone!

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