Huawei Pay — Competitor Profile
Huawei Pay Competitor Analysis is one of the versatile wallet brands in China that was sent off in 2016 in cooperation between Chinese installment conspire UnionPay and cell phone brand Huawei to contend in the dramatically growing portable installments market. With the progress of wallets, for example, Alipay and WeChat Pay and the size of the Chinese market itself, it is nothing unexpected that as a media communications supplier and one of biggest homegrown portable handset brands on the lookout, Huawei would need to enter the versatile wallet market. While the Chinese market has successfully embraced QR codes as the norm for portable installment, the Chinese homegrown plan saw a need to push for the presence of NFC, which is the reason it was an ideal match among Huawei and UnionPay.
Notwithstanding, with Alipay and WeChat Pay being presented a couple of years sooner, buyers in China are as of now acquainted with the two, and Huawei Pay had never left a lot of mark available. As per GlobalData’s Consumer Payment Survey in 2021, Alipay and WeChat Pay together hold roughly 76% of the versatile wallet piece of the pie in China, with Huawei Pay taking up under 10%. Regardless of this low portion of the overall industry, Huawei has still made a few advances and upgrades since the underlying few years following its presentation. The way that Huawei Pay is attached to UnionPay has given it a benefit contrasted with other portable wallet brands, for example, Apple Pay, Samsung Pay, and Mi Pay by Xiaomi.
Globally, Huawei Pay has not gained a lot of headway, with just presence in certain business sectors in Southeast Asia, Pakistan, and Russia. Proceeding, Huawei Pay will zero in erring on its home market, as Alipay and WeChat Pay are as of now making advances in seaward business sectors to support buyers from China.
The report gives data and experiences into Huawei Pay including -
- Itemized knowledge into its business
- Exhaustive inclusion of its items and administrations
- Similar appraisal with key elective installment arrangements
- The organization’s significant occasions and achievements
Scope
- In March 2016, NFC-based portable wallet Huawei was sent off.
- In August 2018, Huawei Pay sent off a brought together computerized get element to coordinate advanced get distinguishing proof into its wallet.
- In April 2019, Huawei Pay joined forces with computerized lock creator QingKe, binding together the portable wallet as a locking and opening gadget.
- In April 2020, Huawei Pay ventured into Singapore, at first with the backing of ICBC check cards.
- In February 2022, Aleta Planet and Huawei Pay, alongside UnionPay, extended their administrations to remember virtual cards for Huawei Pay wallets.
Motivations to Buy
- Acquire experiences into Huawei Pay’s business tasks and key occasions.
- Acquire experiences into its item portfolio and income model.
- Evaluate the cutthroat elements in the elective installments industry by looking at its presentation against rivals.
