Huawei Mobile Money Wins Best ‘Mobile Innovation for Emerging Markets’ Award
Huawei’s Mobile Money Solution has been named as the ‘Best Mobile Innovation for Emerging Markets’ at Mobile World Congress Shanghai 2018 by GSMA. Winning this award indicates the industry’s recognition of the solution’s leading capabilities and excellent performance.
Huawei’s Mobile Money Solution has already been deployed in 19 countries, serving over 193 million users globally, including in Kenya, Tanzania, Zimbabwe, Indonesia, and Bangladesh.
Currently around 1.7 billion of the world’s adult population does not have access to a bank account, leaving them without access to basic financial services. This means that they need to finish money transfers or remittance through face-to-face meetings or via a post office. To help solve this problem, Huawei is devoted to helping operators and banks provide efficient and low-cost mobile financial services, allowing more convenience on transfers, payments and other services.
To make this possible, Huawei’s Mobile Money Solution implements a series of innovations through its platform, experience, and marketing, including by providing:
1) A trusted platform: Adopts advanced HSM hardware encryption technology certificated by PA-DSS (Payment Application Data Security Standard), ensuring transaction integrity and zero data leakage for users.
2) A better experience: Supports read-write separation, over 1,200 concurrent transactions per second (TPS), enabling operators to provide a real time and seamless user experience.
3) Service innovation: Uses over 20 configurable parameters, enabling rapid and flexible new service creation and response to market events.
4) An open ecosystem: Provides over 400 APIs to third parties using multiple protocols including SMPP, HTTP, Diameter, sFTP, ISO 8583, MT940/942 and SOAP.
Alex Ma, President of Huawei Software Marketing & Solution Sales Department, said, “It is our honor to win the award of ‘Best Mobile Innovation for Emerging Markets’ at Mobile World Congress Shanghai 2018. It indicates the industry’s recognition of the secured, trusted and convenient mobile financial services for customers provided by Huawei’s Mobile Money. In the future, Huawei will keep optimising its Mobile Money solution, to provide better inclusive finance services for the 1.7 billion unbanked population.”
Huawei provides mobile money platforms for Africa and other emerging markets through partnerships with Safaricom, Vodafone, Vodacom and Teasy Mobile. The company has also forged partnerships with global renowned international remittance operators, such as WorldRemit, XpressMoney, MFS Africa to open up technical channels, improving the efficiency of cross-border remittance.
With the rapid development of international trade and cross-border e-commerce, cross-border payments are also booming. It is believed that the overall cross-border remittance business will continue to grow and contribute to the economic development of African countries.