However, digital payments have not yet peaked. As a result, Huawei is on the verge of acquiring a company that deals with this type of service to advance the Huawei Pay project.
There are many industries that Huawei is now relying on consistently and with some success. However, digital payments have not yet peaked. As a result, Huawei is on the verge of acquiring a company that deals with this type of service to advance the Huawei Pay project.
Huawei: Acquired the company to compete with Alibaba and Tencent in the digital payments space
The reasons for the proposed acquisition of Xunlian Zhifu, a former ZTE company founded in 2013, lies precisely in the diversification of the digital payments sector, especially in the domestic market, where the main players are Alibaba with AliPay and Tencent. Huawei does not want to be left behind, so the decision to acquire a specialized company.
In this way, the Huawei Pay service would have a very important growth opportunity and would certainly be made available to more users in addition to those who can use it as a means of payment on the brand’s smartphones.
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