Huawei recently announced its Digital Payment Cloud solution, which aims to help digital payment operators build a payment ecosystem centered on super apps to accelerate the development of financial inclusion in emerging markets.
According to Huawei, the digital payment cloud solution builds the digital ecosystem in three ways to bring value to payment operators.
Extreme digital experience. It brings a digital architecture so that user data and transaction data can be opened up in real time. This safeguards the real-time query experience for users and merchants, but also enables real-time risk control built through AI analytics capabilities to identify fictitious transactions.
Accelerate product development. Through API (Application Programming Interface), H5, applets, UI Bricks and other technical means, partner businesses can release products to super apps within one week and complete marketing campaigns from planning to execution within three weeks.
Rapid software iteration. The platform in the cloud, which supports containers, microservices, elastic scalability, and grayscale releases, enables software versions to be iteratively updated and go live within days.
Huawei also said that it previously partnered with KBZ Bank to launch KBZPay in Myanmar.
In just 18 months, KBZPay has gained 6 million registered users, more than 1,000 partners and over 290,000 merchants. With a cumulative transaction value of US$7 billion, it has become the mobile payment operator with the largest market share in Myanmar.
