Huawei is difficult to resist the law of "true fragrance" to test the field of water payment

Reporter Li Bing

Huawei expanded the "boundary" to officially enter the field of payment.

A few days ago, the Securities Daily reporter noted that Huawei Payment has been officially launched in the Huawei Wallet APP, and launched the first marketing campaign to tie the bank card payment randomly.

The adoption of first-tied and random marketing activities is one of the common practices of payment institutions in terms of customer acquisition, with the purpose of promoting users to use Huawei payment and strengthen user stickiness through repeated payment consumption behaviors. Su Xiaorui, a senior analyst at Analysys, told the Securities Daily reporter that the official launch of Huawei's payment shows that its own payment application system has gradually matured and begun to officially face the market public.

More than 140 bank debit card bindings have been supported

At present, Huawei Pay has entered the promotion stage. It is understood that Huawei Pay relies on Huawei wallet as the management portal to provide individual users with services such as balance payment, bank card payment, red envelopes, recharge, and withdrawal, and provides services such as capital settlement, automatic ledger distribution, and marketing empowerment for enterprise users to quickly integrate payment capabilities.

The reporter noted that at present, Huawei Payment can recharge huawei wallet transportation card, Huawei wallet mobile phone recharge, HarmonyOS service, and can also be used in Huawei video, Huawei music, Huawei theme, and HUAWEI CLOUD space. At the same time, huawei applications and some third-party applications have been covered, including Huawei music, Huawei video, Huawei reading, Mango TV, Youdao Cloud Notes, PP video, etc.

At the same time, according to reports, Huawei Pay has supported more than 140 bank savings card bindings and more than 100 bank credit card bindings, including Industrial and Commercial Bank of China, Ping An Bank, and Everbright Bank, of which some banks only support credit card binding.

The reporter's actual experience noted that when using Huawei payment, the user needs to open a balance account first, and the balance is that the funds paid by the user can be recharged, paid and other functions, and need to pass real-name authentication, enter the name and mobile phone number, verification code and other information, and complete the binding card, you can complete the payment through Huawei payment.

In addition, when the Securities Daily reporter randomly interviewed users, he found that many users could not distinguish the difference between Huawei Payment and HuaweiPay. In fact, Huawei Pay and HuaweiPay are not the same payment tool. According to reports, Huawei Pay is provided by Shenzhen Xunlian Intelligent Payment Network Co., Ltd. Payment Services, HuaweiPay is a mobile phone flash payment capability jointly launched by Huawei Wallet and UnionPay, which supports NFC payment, UnionPay QR code, online payment and other payment methods, and there is an essential difference between the two.

Intentions of Hongmeng?

In fact, Huawei has publicly stated that it will not apply for a payment license, which is such a boundary awareness that makes Huawei go through some detours in the field of payment.

It is not uncommon for mobile phone manufacturers to cut into payments. Under the leadership of Apple Pay, mobile phone manufacturers represented by Huawei and Xiaomi have laid out the payment field and created their own wallet products through mobile phone Pay products on the basis of not having a payment license. However, after many years of "competition" between the Pay route of mobile phone manufacturers and Alipay and WeChat Pay represented by QR code payment, the results were not satisfactory.

In August 2016, China UnionPay and Huawei announced that Cloud Flash Pay fully supports HuaweiPay, covering various payment innovative technology applications such as NFC; in 2019, Huawei Wallet opened all models of support for UnionPay QR code payment, but relying on the UnionPay Flash Payment system to make Pay products are easy to be "channelized"; until March 2021, Huawei won the payment license by acquiring 100% of the equity of the third-party payment company Shenzhen Xunlian Zhifu Network Co., Ltd.

Most industry insiders commented that Huawei ultimately failed to resist the law of "true incense". In the view of Yu Baicheng, president of Zero One Research Institute, this is the inevitable result of long-term development. "The payment business is very important for the ecological Internet giants, and the value of the payment license is not only the payment business itself, but also an important infrastructure for building the Internet business ecology."

Looking at the current situation of the payment industry, after years of development, the domestic mobile payment market has formed three relatively stable camps, namely WeChat Pay, Alipay and UnionPay Cloud FlashPay. According to the "Annual Thematic Analysis of Non-bank Payment Institutions 2022" report released by Broadcom Analysis, from 2014 to 2021, the scale of mobile payment continued to grow, but the growth rate fell from more than 100% in the previous period to 10%-20% in the past two years, mainly because the development of the mobile payment market has matured, the overall base is large, and the C-end traffic has gradually peaked. Although Huawei Pay has its own advantages and competitiveness, is it too late to enter the payment industry at this time? In the future, how to benchmark Alipay, WeChat and other issues is also causing widespread discussion in the industry.

Wang Pengbo, a senior analyst in the financial industry of Broadcom Consulting, believes that Huawei's competitiveness is reflected in its own product ecosystem, such as the majority of users of Huawei mobile phones and related ecological products, the recognition of huawei brands by the Chinese people, and the influence on the upstream and downstream supply chains of Huawei mobile phones. He told the Securities Daily reporter, "The scale of Huawei Pay wants to do WeChat and Alipay is unlikely, it can be said that the status of WeChat and Alipay in a short period of time is difficult to shake huawei's payment." Users' dependence on WeChat and Alipay usage habits is difficult to change in a short period of time, but there are still infinite possibilities in the future. ”

"The payment business is very important for the ecological Internet giants, and its commercial value, data value and user value are very high, and it has become the standard of all leading Internet companies." From the current point of view, Huawei payment is more to improve the Hongmeng ecology and achieve closed-loop and make necessary preparations. Yu Baicheng added.

However, many people in the industry believe that Huawei Pay wants to do something in the payment industry in the future, and the future is still full of opportunities. Yu Baicheng said that the share of Alipay and WeChat Pay may decline after the anti-monopoly supervision of the payment industry is strengthened, and with the interconnection of payments and the opening of head payment institutions, huawei payments have provided opportunities.

Su Xiaorui said that with the continuous advancement of the digital yuan pilot, using hardware wallets as the entry point to open customer acquisition and live customer business may become an opportunity for mobile phone giants to affect the pattern of the payment industry.

(Edited by Sun Qian)