Behind the popularity of Huawei Pay is the "wallet" dream of mobile phone manufacturers

What other treasure features does a mobile wallet have?

Manual labor/digging

Hand editing / Kaku Uncle

Produced / Unicorn Excavator

Huawei mobile phones, which are far ahead, are also far ahead in the eye-catching index.

For example, a recent change in payment institution information has attracted attention from all parties, just because the protagonist is Huawei.

On October 13, People's Bank of China updated the license information of major matters of non-bank payment institutions, and agreed to change the company name of Shenzhen Xunlian Smart Pay Network Co., Ltd. to "Petal Payment (Shenzhen) Co., Ltd."

After this information was spread and fermented, it immediately attracted market attention, especially the sensitive capital market, and some concept stocks even recorded a 20CM one-word price limit, which made some people in the industry also scratch their heads.

Because this is just a very conventional name change, from the previous "Xunlian Smart Pay" to a closer to Huawei's "petal payment" (Huawei's logo is petal-shaped).

Public information shows that in March 2021, Huawei obtained a payment license through the acquisition of Shenzhen Xunlian Smart Pay Network Co., Ltd., becoming the second smartphone manufacturer to obtain a payment license after Xiaomi.

Huawei also responded to the name change: "Huawei Pay supported by Petal Payment is a full-scenario payment service in the Hongmeng ecosystem, and users can open Huawei Pay on the Huawei Wallet App."

Careful mobile phone users found that whether it is Apple with iOS system, or Huawei, OV, Xiaomi, Honor and other brands with Hongmeng or Android system, pre-installed wallet APP has become the factory standard of major mobile phone brands.

Huawei Pay became popular by mistake, which also made many users start to notice the pre-installed wallet APP in their mobile phones. This wallet APP supports the financial territory of major mobile phone manufacturers, and is also another "wallet" for major mobile phone manufacturers.

01

Wallets are more than just payments

A while ago, Huawei Mate60 Pro was born, and various far ahead were brushed in the screen, including a "no code" fast payment. The user's mobile phone interface is also stopped on the main desktop, and the next second the code scanning gun is pointed at the screen, the mobile phone automatically pops up the payment code and completes the payment.

This is actually the "smart payment" function of Huawei mobile phones, which was launched a few years ago. In the "accessibility function" of Huawei mobile phones, you can choose to turn on this function, and the default payment methods currently include Huawei Wallet, Alipay and WeChat Pay.

Due to Huawei's strong technical capabilities and market appeal, some people wishfully believe that Huawei Pay may pose a threat to Alipay and WeChat Pay, which currently have a market share of more than 90%, which is obviously a bit alarmist.

At present, the vast majority of people will be accustomed to choosing Alipay or WeChat Pay when using Huawei mobile phone payment.

The relevant person in charge of Huawei also specifically stated that Huawei Pay is not a competitive relationship with WeChat Pay and Alipay, they are all partners of Huawei, and Huawei Pay is currently mainly focusing on user experience innovation and improvement, positioning itself as an innovative all-scenario payment platform.

Putting Alipay and WeChat Pay in the default selection is the best example of this statement.

In fact, "code-free" fast payment is not Huawei's "patent". Relying on NFC technology, major brands of mobile wallets can be applied to payment scenarios.

Taking OPPO Wallet as an example, OPPO Pay can support mobile phone quickPass, payment code payment, "touch" label payment and online payment. By pointing your phone at the NFC sensing area with the QuickPay logo, you can easily complete the payment, achieving a seamless "pay when you raise your hand".

In terms of payment scenarios, OPPO Pay not only supports online payment such as mobile phone recharge and transportation card recharge, but also expands and develops offline scenarios such as bus and subway, medical and health, public payment, campus, catering, and supermarkets.

There is also a more black technology - "no network and no electricity" to pay with mobile phones.

Xiaomi mobile phone opened the no-network and no-electricity payment function in January this year, even if the user's mobile phone automatically shuts down due to battery exhaustion, he can still use the Xiaomi mobile phone "touch" payment terminal to complete the payment within a certain period of time.

Of course, the function of mobile wallets is not only payment, for example, in Huawei wallet, the first line of the main page includes borrowing, insurance, Huawei Pay, funds, and mobile POS.

"Unicorn Excavator" measured it, in which the partner who borrowed money is Du Xiaoman, the interest rate of repayment on time is 15.12% annualized (simple interest), and the borrower is Chongqing Duxiaoman Microcredit Co., Ltd. The insurance includes medical insurance, travel insurance, etc. Huawei Pay has supported 91 banks to tie cards; There are currently only 2 funds; Mobile POS acquiring service is provided by Lakara.

It can be said that the current mobile wallet basically covers the most important financial business, most of which are jumped through the wallet in the form of cooperation with other financial institutions.

02

Wallets are more than wallets

In addition to containing "money", mobile wallets also play the role of "bags".

In the past, we often used the homophonic meme "reach for money" to refer to the four necessary sets for going out: ID card, mobile phone, keys and wallet.

Now, a mobile wallet can "fit" four sets in. After loading the citizen's online electronic identity identification (eID) into the mobile phone, users can open the eID online to achieve online identity authentication and offline identity verification.

With a mobile wallet, you have identity authentication, boarding, staying in a hotel, and even game identity authentication, no longer have to worry about forgetting your ID card.

With the intelligent city, access control cards and transportation cards have become indispensable "keys" for our life and work, and they have also increased the "burden" of carrying, and these cards can be fully "loaded" into the wallet by using mobile phone NFC.

For example, OPPO wallet door cards support three scenarios: simulated door cards, custom blank cards, and online card opening. Among them, the analog door card is through the NFC read/write card working mode, and the read door card information is written to the mobile phone door card installed in the NFC chip, so as to realize the mobile phone swipe card to open the door.

For office workers traveling by public transportation, the way to open a transportation card is also very convenient, such as Huawei Wallet supports online card opening, physical card card suction, when passing subway turnstiles, swiping company cards. Even in a non-network environment, you can respond when you close the phone to the swipe point.

Compared with physical transportation cards and boarding codes, the NFC swipe transportation card of mobile wallet also has the advantage of interconnection, which can support transportation cards in many cities across the country, such as Beijing Interactive Card, Shanghai Public Transport Card, Shenzhen Pass and so on.

For users who travel a lot, there is no need to change cards or buy tickets in order to ride the bus.

For car owners, car keys are also necessary supplies, once they lose their car keys, they may have to apply for rescue.

Compared with physical car keys, non-sensory car keys are one of the most important needs of current car owners. Through a mobile phone, NFC touch or Bluetooth insensibility, you can open and close the door and control the car remotely, without the need to carry a physical key.

Therefore, mobile phones as invisible car keys have become the development trend of the automotive industry in recent years, which is one of the reasons why new energy vehicle companies such as NIO want to make mobile phones themselves.

With the continuous application of Bluetooth, NFC, and UWB communication technologies, mobile phone manufacturers and car manufacturers have begun a "two-way rush" layout.

Mobile wallets are also popular among young people, and on college campuses, from the earliest meal tickets to meal cards, library cards, and then to student cards that collect various functions later.

Frequently used student cards are also very easy to lose, but when you move them to your phone, you can carry them easily and never worry about losing them again.

The Huawei Wallet digital student card is informatized in all scenarios, covering multiple scenarios such as study, eating, accommodation, and medical treatment. Now, students at Peking University, Southeast University and many other universities can already use mobile phones instead of student cards.

It can be seen that mobile phones are the most widely used terminals, and major mobile phone brands are also striving to improve the user experience through mobile wallets and other applications by providing services.

03

Wallet supports the manufacturer's "wallet"?

For mobile phone manufacturers, mobile wallets can not only broaden business territory, but also increase user activity, and have become an important source of income after app stores and games.

Mobile wallets can improve the user experience. By streamlining the payment process, providing personalized service, and adding security, mobile wallets can enhance user satisfaction and loyalty.

For example, by adding credit cards, bus cards, movie tickets and other functions to mobile wallets, users can use mobile phones to complete various payments more conveniently, thereby reducing the possibility of users changing mobile phones or turning to other service providers, which can not only retain more users, but also increase the revenue of manufacturers.

In addition, mobile wallets can expand the business scope of mobile phone manufacturers. By partnering with various service providers, mobile phone manufacturers can expand their business areas into various fields such as finance, transportation, and entertainment, thereby adding new revenue streams.

In particular, the financial sector has become a must for major mobile phone manufacturers, or like Xiaomi mobile phones, to get financial licenses, or cooperate with other financial institutions to obtain benefits through diversion.

In addition, from the perspective of branding, mobile wallets can help mobile phone manufacturers enhance their brand image. By launching a secure and convenient mobile wallet, mobile phone manufacturers can demonstrate their technical strength and service level, thereby enhancing users' trust and goodwill towards the brand.

Mobile wallets are not only the user's wallet, but also support the "wallet" of mobile phone manufacturers. (End)