Huawei has launched a mobile money solution for operators, comprising banking, payments and marketing.
The solution can work on all types of mobile phones and can be used with the vendor's partner IT systems. It follows Huawei's partnership with Vodafone earlier this year for the vendor to offer the operator's M-Pesa payments service into 13 countries. Romania was the first country to go live with the scheme on 31 March.
The banking solution will allow operators to provide consumers with mobile transfers, access to money and domestic and international remittance services. The payments solution uses an open payments platform that allows consumers to make remote and near-field communication transactions. The mobile marketing product can allow operators to enable catalogies, shopping guides, promotions and advertising to be sent by retailers to customers.
Tang Jie, Director of Huawei Revenue Management Consulting, said: "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."
Huawei said it was entering the market in earnest because growing excitement around how big the sector could get. It said by the end of 2016, there will be 448 million mobile money users, making transactions worth more than €450 billion.