Huawei has entered the financial services space for the first time after Vodafone chose the vendor’s m-payments platform for its new M-Pesa service in Romania.
The end-to-end mobile money platform features encryption technology and carrier-grade infrastructure to ensure secure transactions as well as authentication technology designed to combat fraud.
It works across all mobile handset models and allows consumers to send and receive money, top-up airtime on prepay deals and pay bills using their phones.
Vodafone Director of Mobile Money Michael Joseph revealed it is the first time that the China-based vendor has developed a technical platform for M-Pesa.
“We are confident that it meets our stringent specifications to offer Romanian customers fast, secure and reliable mobile money transfer and payment services,” he commented.
The Romanian launch marks the debut of Vodafone’s M-Pesa platform in Europe. It is used by almost 17 million customers in emerging markets, having launched in Kenya seven years ago.
James Chen, President of Vodafone Key Account at Huawei, said: “Providing the platform for Vodafone to launch M-Pesa in Romania represents a key strategic move for Huawei as it is our first step into the financial services arena.”
Last year, Vodafone launched its contactless payments scheme, SmartPass, which uses NFC technology. Gemalto builds the Trusted Services Management platform for its NFC solutions.
Huawei is also working with Vodafone on its €8.5bn Project Spring investment project.
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