Will Huawei enter the payment industry?

In the domestic payment field, WeChat Pay and Alipay are the two most common payment methods. It is these two payment tools that make Tencent and Alibaba thrive in this field. But in recent years, more and more companies have entered the payment field, and Xiaomi is one of the mobile phone manufacturers. According to the payment encyclopedia, after Xiaomi, another mobile phone manufacturer has shown a strong interest in the payment field, and it is Huawei.

According to reports, Huawei has acquired the licensed payment institution Xunlian Zhifu, and the relevant company functions of the latter have been taken over by Huawei. The industrial and commercial changes and regulatory approvals are still in progress. After obtaining the payment license, Huawei will become the second mobile phone manufacturer with a payment license after Xiaomi, which also means that Huawei may enter the payment field in the future.

It is reported that Xunlian Zhifu was established in June 2013 and obtained a payment license in July 2014. The license type is nationwide Internet payment and mobile phone payment business, excluding bank card acquiring business. Xunlian Zhifu's payment license originally belonged to ZTE. In May 2016, ZTE Software transferred 90% of Xunlian Zhifu's equity for 385 million yuan. In January 2018, Zhengtong Co., Ltd. controlled 100% of Xunlian Zhifu's equity.

According to industry insiders, Huawei is currently recruiting a large number of positions related to payment services, including positions responsible for reserve fund management, routing, payment settlement, network operation and maintenance, and bank cooperation. However, Huawei has not yet responded to this.

According to information, Xunlian Zhifu was established in June 2013 and was issued a payment license in July 2014. The license type is for nationwide Internet payment and mobile phone payment services, excluding bank card acquiring business.