Huawei has signed a mutual cooperation agreement with UnionPay International to promote the globalization of Huawei Pay and accelerate its rollout worldwide.
The agreement marks the first joint effort between Huawei and UnionPay to bring Huawei Pay to the global market since the two enterprises worked together to create Huawei Pay back in 2016.
The agreement allows users of Huawei phones (to include its sub-brand Honor) enabled with Huawei Pay who also have UnionPay bank cards to make mobile payments outside of China by placing their phone next to a POS machine that supports UnionPay mobile QuickPass.
Russia will be the first overseas market to implement the service. Currently, UnionPay bank cards are accepted at 85% of POS terminals and ATMs in Russia, with over 400,000 POS terminals accepting UnionPay mobile contactless payments. More than ten Russian banks have issued about 1.3 million UnionPay bank cards.
Huawei and UnionPay also plan on bringing the service to markets in Eastern Europe.
In terms of security, Huawei Pay uses the “all-device” solution, which Huawei says ensures user payment security. At the same time, payment token technology is applied to protect the privacy and data security of cardholders.
Huawei Pay is currently supported by 66 banks and is compatible with 20 mobile devices including various mobile phones and smart watches. In 2017, 4 billion RMB worth of payments were made using the payment platform. Huawei expects that to increase further as it sells more compatible devices and the service expands to more overseas markets.