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Huawei eyes mobile money stakes

Huawei eyes mobile money stakes
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Chinese equipment supplier, Huawei has announced the launch of its Mobile Money (MM) solutions for mobile networks operators.[blockquote right=”pull-right”]The ubiquity of mobile Internet and e-commerce are driving the growth of mobile financial services while providing users with ease and convenience. It has been predicted that by the end of 2016, there will be 448 million mobile money users with a transaction volume exceeding 620 billion. [/blockquote]

According to Huawei, the MM solution enables the development of a robust mobile financial ecosystem for global operators which is compatible with all types of mobile phones and can easily be integrated with the company’s partner IT systems.

The ubiquity of mobile Internet and e-commerce are driving the growth of mobile financial services while providing users with ease and convenience. It has been predicted that by the end of 2016, there will be 448 million mobile money users with a transaction volume exceeding 620 billion.

The MM solution, which consists of mobile banking solution, mobile payment solution and mobile market solution is expected to enable Communication Service Providers (CSPs) create an open ecosystem in the mobile financial arena, according to Huawei.

“Mobile financial services are a blue ocean market. We believe in reliability, high performance, fast integration capabilities, flexible business processing and safe and convenient user access as key factors for CSPs to successfully establish a competitive advantage in this ecosystem. We are confident that our MM solution is an ideal opportunity for us to work with CSPs to create a win-win ecosystem in the digital economy”, Tang Jie, Director of Huawei Revenue Management Consulting said.

 

 

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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