Huawei acquires Chinese digital payment firm, Zhipay for payment system

The fast and evolutionary changes are observed in information and technology especially in the last ten years. It has given a new concept of online transactions. In today’s scenario, every day is a race against time in our busy lives, so we are looking towards how we can save time. This is the main reason behind people switching to online payments.

This huge demand for online transactions needs the payment platforms more developed and advanced and this attracts many other enterprises such as Huawei to step into the online payment platform.

Now, according to the enterprise check app, Shenzhen Xunlian Zhifu Network Co., Ltd. has undergoing industrial and commercial changes. After the withdrawal of shareholder Shanghai Wo Ruiou Information Technology Co., Ltd., Huawei Technologies becomes its new sharer.

Now, Huawei has fully owned the Xunlian Zhipay with 100% shares and becomes another mobile phone manufacturer that has successfully received a payment license after Xiaomi.

Xunlian Zhipay is a third-party payment Chinese digital payment firm established in 2013 with a registered capital of 200 million yuan. Its legal representative is Wang Guanrong, former Deputy Director of the Payment and Settlement Department of the People’s Bank of China.

It serves in many fields including electronic payment, Internet payment, computer technology services, database and computer network services, online data processing and transaction business and, information service business.

As recently, the research organization – Hurun published the ranking report of the wealthiest enterprises of China. According to the report, Huawei is the top private industry with a market value of 1.1 trillion yuan. As the company’s business will landscape expands, Huawei will need its own payment system to expand its business.

(Via – ithome)