Huawei has obtained a Chinese nonbanking payment license, giving the company a foothold in a fintech sector dominated by Tencent and Ant Group as those firms grapple with regulators.
Huawei has unveiled its own credit card called the Huawei Card. Huawei Card will be released in both physical and virtual embodiment, with the virtual version of the card used via Huawei Pay. The physical Huawei Card will support contactless payments.
Huawei has launched Huawei Pay in Pakistan, in partnership with UnionPay International and National Bank of Pakistan. Pakistan is the fourth market where Huawei Pay has been made available, following China, Russia and Hong Kong (China).
