Huawei May Soon Launch Its Own Mobile Payment Gateway ‘Huawei Pay’ Globally

Must Read

Superstitions across different countries – An Overview

Some believe that a superstition is anything that people believe that is based on myth, magic, or irrational thoughts. They are beliefs that are steeped in lore or tradition, and it is usually difficult to pinpoint the exact origin. Here is a brief compilation of Superstitions which are prevalent across different countries.

1.5 Million Engineers Pass Out In India Every Year, Fewer Getting Hired [Trends]

Engineering colleges have been springing up like wild mushrooms in India in the last few years. Their number has...

World’s Most Popular Ad Slogans: A Brief List To Inspire With !

Advertisement plays an important role for companies as well as consumers world wide. It gives a seller an opportunity...
Aarzu Khan
A full-time data scientists and a part-time industry analyst; still learning power of effective presentation and firm believer of the thought "Numbers are always magical". Love to be in the network of people who 'know' how to respect their time and keep others engaged in meaningful activities.

The future of payment belongs to digital currency, and most of it would be transacted through mobile phones. Realising the fact that almost every tech major has set its eye on the mobile payment market, and Huawei is no exception. The Chinese tech giant is apparently gearing up to tap the global mobile payment market with its own mobile payment service known as Huawei Pay.

Nearly a year ago, Huawei first introduced its mobile payment service in China, which works on NFC technology. Encouraged by the response in the homegrown market, the company has decided to extend its mobile payment service to more countries. Consequently, Huawei has already started putting things in place. As a first baby step, the company had reportedly filed for a trademark in Europe two weeks ago. Taking a step further now Huawei has filed for the trademark in USPTO, the authorised body of assigning trademark in America, too.

Huawei had completed all the formality for the trademark in America on September 13, and the application has been accepted by the office as well. However, it may take up to 3 months for the USPTO to assign an examining. The filed categorisation of trademark clearly explains what Huawei is up to. In the trademark filing, Huawei has explained the trademark as

Advertisements

‘Computer and mobile software for processing electronic payments and for transferring funds to and from others; authentication software for controlling access to and communications with computers and computer networks; magnetically encoded credit cards and payment cards’

Few people familiar with the matter, on the condition of anonymity, have hinted that Huawei Pay may be available as early as January 2018. And, soon after introducing in the US, the company may set its eyes on India.

Huawei Pay trademark in the US

The global mobile payment market is estimated to reach $3.3 trillion by 2022, registering a CAGR of 33.4% between 2016 – 2022. Led by China, Asia Pacific market will be driving the growth of global mobile payment market by 20222.

Huawei’s decision to take its mobile payment service beyond China wall has come as no surprise to many. The company has strong footprints in China and European smartphone market. In China, Huawei is the biggest smartphone manufacturer, followed by Oppo. In Europe, the situation is no different for Huawei as the sales number has been rising with each passing quarter. Excited by the performance in China and Europe, Huawei has started tapping India, the second largest and the fastest growing mobile phone market, for the last two years.

Therefore, for a company that has been enjoying pole position in many promising markets, it makes sense to launch its mobile payment service in dominated markets. Huawei has, probably, realised that the best time to penetrate the global market with its Huawei Pay is now. All the leading smartphone players, be it Apple, Samsung or Google, have already started penetrating global mobile payment market in a bid to capture a sizeable share of it. With the introduction of Huawei Pay, it would be interesting to see how the equations will change, and who will emerge as an undisputed market leader.

Advertisements

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

India the 3rd Worst Economically Affected Nation by Internet Shutdowns in 2019: Report

2019 saw an increasing awareness about internet shutdowns in the Indian population due to unprecedented first-hand experience...

Amazon and Flipkart Under The Lens Of Indian Authorities For Competition Squashing Activities!

The ongoing tug of war between Offline and Online retailers in India seems to be far from over. On Monday, the Competition...

Constant Internet Suspensions In India Affecting Online Transactions and Economy Adversely

In the wake of the highly controversial and prejudiced Citizenship Amendment Act and other related legal developments such as the NRC, IT...

The Current Generation Require Technology In Class To Make The Most Of Future Opportunities

Technology is the current drive for everything. It has influenced all aspects of life, including cultures. It affects the way we live,...

Reliance Jio Offers Free Calls Over WiFi: Activate It Now

Following Airtel’s launch of VoWiFi calling in December 2019, Jio has now started rolling out VoWiFi calling, as well.

UPI Scam: A Man Loses Rs. 1.01 Lakhs While Using Paytm and Google Pay

Facebook finds it itself in the middle of its first scam of the new decade and the catalyst seems to be its...

In-Depth: Dprime

YouTube Should Have Bid Adieu To Dislike Button Much Earlier?

Online video sharing platform YouTube can be a ruthless place for content creators targeted by 'dislike mobs'. And the site owners totally understand that...

Facebook Has Pulled Off A Masterstroke By Integrating Its ‘Family Of Apps’?

It’s indeed hard to believe that ONE man sitting at Menlo Park, oversees how nearly a third of the world’s population interacts with each...

Facebook’s Crunch Conquest: By Relying Largely On The US Market, Is Facebook Running a Risk?

Two billion! That's Facebook, Inc. (NASDAQ: FB) for you - Right when you thought that this social-media giant has already connected the entire world, it's...

More Articles Like This