Shenzhen News (Shenzhen)—Shenzhen-based tech giant Huawei has acquired a mobile payments license in China after buying Shenzhen Xunlian Zhifu Network from Shanghai Wo Rui Ou Information Technology Co, Ltd.
Founded by Shenzhen-based telco giant ZTE, Xunlian was spun-off into a standalone company. It was licensed to provide payment services via its website or mobile phone nationwide through its Xunlian Zhipay service. Shanghai Wo Rui Ou purchased Xunlian from ZTE for RMB 382.5 million in August 2016.
Huawei has been in the mobile payment sector for years. Launched in 2016, its Huawei Pay app allows Huawei phone owners to pay for goods online and offline. The app uses near-field communication, a technology that is not widely used in China.
Without a mobile payment license, Huawei has previously been using UnionPay’s mobile payment service.
A Huawei spokesperson said, “Huawei made this acquisition with the goal of offering a wider range of secure, easy-to-use smart services to enrich people’s digital lives in all possible scenarios.”