News Snapshot:
Tweet Chinese behemoth Huawei Technologies has reportedly landed a mobile payments license in China after buying Xunlian Zhifu Network. Huawei has previously used UnionPay’s mobile payment service. The Huawei Pay app, launched in 2016, has allowed Huawei phone owners to pay for goods online and in brick-and-mortar stores. That app, however, is based on near-field communication, a technology that is not widely used in China, KrAsia reported . Zhang Yu, an analyst with iResearch, said, “It is necessary for Huawei to hold a payment license since the company wants to provide more payment and other financial services.” In theory, that...
