Huawei launches mobile money solution
Huawei has launched a mobile money (MM) solution, designed to enable operators worldwide to develop a robust mobile financial ecosystem.
The solution – launched at a conference in Nice, France, yesterday – has been created to be compatible with all types of mobile phones, as well as easily integrate with Huawei partner IT systems.
Tang Jie, director of revenue management consulting at Huawei, said that mobile financial services are a blue ocean market and the company expects that by the end of 2016 there will be 448 million mobile money users, with a transaction volume exceeding 620 billion.
“We believe in reliability, high performance, fast integration capabilities, flexible business processing and safe and convenient user access as key factors for communication service providers (CSPs) to successfully establish a competitive advantage in this ecosystem,” Jie said. “We are confident that our MM solution is an ideal opportunity for us to work with CSPs to create a win-win ecosystem in the digital economy.”
The Chinese vendor’s solution is designed to be flexible and comprises three sub-solutions: mobile banking, mobile payment, and mobile market.
The mobile banking solution is applicable in markets where there are not enough bank branches to meet demand, and enables CSPs to utilise existing business channels to conduct banking services.
The mobile payment solution allows CSPs to adopt open payment platforms for near-field communications (NFC) payment services, and the market solution is intended to focus on the delivery of mobile commerce services.
In May 2014, the GSMA said it was collaborating with nine operators across Africa and the Middle East to launch interoperable mobile money services.