Asia Express - Consumer Electronics
Huawei Acquires Mobile Payment License to Challenge Alipay and WeChat Pay
March 29, 2021

Chinese leading smartphone brand Huawei recently announced that it has owned 100% of Shenzhen Sharelink Network, originally founded by ZTE in 2013 and obtained a mobile payment license in 2014. The business scope of Sharelink Network includes internet payments, mobile payments, and digital TV payments across China. The license will be effective until July 2024. Despite Huawei launched Huawei Pay as early as 2016, Tencent’s Tenpay which includes WeChat pay, and Alibaba’s Alipay have accounted for almost 94% of the Chinese mobile payment market. With 200 million-phone user base, Huawei aims to challenges dominance of Alipay and WeChat by linking its Huawei Pay with the new license. This will enable the company to operate online stores, provides deposits and payment services directly to consumers without having to pay commissions to their-party payment companies. Other than Huawei, Xiaomi also has a mobile payment license. Given all payment options, about 37.2% of consumers in Taiwan prefer mobile payment, followed by physical credit/debit card (34.5%), and cash (18.8%), according to MIC (Market Intelligence & Consulting Institute), a major government think tank and leading IT research institute in Taiwan. The survey was conducted online during September 1-30, 2020.