On August 31, China UnionPay and Huawei announced that they have jointly supported 25 banks to fully support Huawei's payment through â€œCloud Flash Paymentâ€. Based on Huawei's built-in security chip and the world's leading mobile payment technology and security standards, the number of participating banks has exceeded the number of Apple payment at the time. The development of China's mobile payment application autonomy is accelerating.
According to reports, users only need to add UnionPay cards to mobile phones with Huawei payment function. When using, regardless of the lock screen, black screen or home screen interface, hold the mobile phone near the POS machine with the â€œUnionPay cloud flash paymentâ€ logo, scan the fingerprint. Payments can be easily done. At present, Huawei's Mate S, Glory V8 (All Netcom) and Glory 8 mobile phones are supported by Huawei's Mate S, and Huawei will release more compatible models in the future. It is expected to support Huawei's payment this year. The terminal will be more than 10 million, and more terminal devices including wearable devices will also support Huawei payment.
Su Jie, president of Huawei's consumer BG cloud service department, said that Huawei's payment uses mobile payment security solutions such as security chip, fingerprint identification, and TEE security operation environment to further protect users' payment security. At the same time, in conjunction with payment marking technology, transaction data is still processed by banks to protect user privacy and data security. â€œThe mobile payment industry chain is very long, and all parties should perform their duties. We promise not to apply for a license.â€
At present, there are 25 banks in China, including ICBC, BOC, CCB, Bank of Communications, CITIC, and Everbright, which support Huawei's payment services. In the future, more banks including ABC and Post Store are expected to join.
It is reported that UnionPay's â€œCloud Flash Payâ€ is a new brand of UnionPay mobile payment with non-contact payment technology as its core, covering various payment innovation technologies such as NFC, HCE, TSM and Token. With more and more users, the acceptance environment is constantly improving, and merchants supporting small-value, confidential-free and visa-free payment are more convenient. As of the end of the second quarter of 2016, the number of non-connected terminals in UnionPay network reached 10.506 million units, and overseas markets such as Hong Kong, Macao, Taiwan, South Korea, Singapore, and Australia were also rapidly opening the â€œCloud Flash Paymentâ€ acceptance.
Hu Ying, assistant president of China UnionPay, said that the integration of smart phones and financial applications is very important to promote the development of the mobile payment industry. UnionPay has been supported by many mobile phone manufacturers since its launch and is becoming the standard for future smartphones. Both UnionPay and Huawei are building internationally renowned brands. It is believed that the cooperation between the two parties will bring safe and convenient payment services to more and more consumers.
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