Huawei acquires Xunlian Zhipay and obtains payment license

A Huawei spokesperson on Monday confirmed the deal but did not disclose its terms.

Huawei has obtained a Chinese nonbanking payment license, giving the company a foothold in a fintech sector dominated by Tencent and Ant Group as those firms grapple with regulators.

Huawei obtained the permit by acquiring an existing license holder by purchasing Shenzhen payments firm Xunlian Zhipay on Thursday from Shanghai Woruiou Information Technology Co.

Xunlian was founded by ZTE and in 2014, and was issued a nationwide license to provide payment services via its website or mobile phone. The license is valid until July 2024. 

In China, as well as an approved business licence, firms also operate on a general payment services (PSO) licence issued by the People’s Bank of China (PBOC). Huawei has secured both of these through the deal.

Exactly how Huawei intends to use the license is unclear, although Huawei has already entered into the payment industry by creating mobile payment service Huawei Pay in 2016.

Huawei Pay allows Huawei phone owners to pay for goods online, as well as in bricks-and-mortar stores and for bus rides even with the connection turned off. The services are based on near field communication (NFC), a technology that hasn’t found many users in China. Consequently, it is necessary for Huawei to hold a payment license since the company wants to provide more payment and other financial services

In July last year, Huawei Wallet launched a function called “Merchant Collection”, which is an innovative multifunctional mobile collection product; in September last year, Huawei and China CITIC Bank launched the China CITIC Bank Huawei Card credit card, which enables comprehensive online management of credit card bills through the Huawei Wallet App.

A Huawei spokesperson on Monday confirmed the deal but did not disclose its terms.

My Cart Close (×)

Your cart is empty
Browse Shop

Rapid Mobile

Rapid Mobile uses cookies, tokens, and other third party scripts to recognise visitors of our sites and services, remember your settings and privacy choices, and - depending on your settings and privacy choices - enable us and some key partners to collect information about you so that we can improve our services and deliver relevant ads.


By continuing to use our site or clicking I Accept, you agree that Rapid Mobile and our key partners may collect data and use cookies for personalised ads and other purposes, as described more fully in our privacy policy.


You can change your settings at any time by clicking Manage Settings or by visiting our Privacy Centre for more detailed information.


Privacy Settings saved!
Cookie Services

We need your consent so that we and our trusted partners can store and access cookies, unique identifiers, personal data and information about your browsing behaviour on your device. This enables us to serve relevant content and advertising to you, and to improve the service that we provide to our readers. This only applies to we respect your right to privacy, you can choose not to allow some types of cookies. Click on the different category headings to find out more and change our default settings. However, blocking some types of cookies may impact your experience of the site and the services we are able to offer.

These cookies allow us to count visits and traffic sources, so we can measure and improve the performance of our site.

We track anonymized user information to improve our website.
  • _ga
  • _gid
  • _gat

Save my preferences