China’s Huawei Pay debuts in Russia, as first port of call in global push

Huawei Technologies Co and state-owned UnionPay have set their sights on international markets, as they prepare to launch Huawei Pay digital wallet technology outside the mainland, going shoulder to shoulder against rival e-wallet services such as Apple Pay and Samsung Pay.

The global push comes as Chinese consumers are increasingly using smartphones to settle in-store payments, with annual transaction value representing nearly half of the nation’s gross domestic product.

UnionPay said in a statement on Friday that overseas services will launch in Russia and other markets along the “Belt and Road Initiative”.

“It is a win-win cooperation between two Chinese companies as we join hands to increase the influence that China wields in the global mobile payment businesses,” said Wang Lixin, a vice-president of UnionPay International, the subsidiary focusing on the company’s international business.

UnionPay, the mainland’s dominant bank-card clearing service provider, has been striving to expand its footprint worldwide after Beijing allowed foreign companies such as Mastercard and Visa into its domestic transaction clearing market.

By teaming with Huawei, the world’s third-largest smartphone maker, UnionPay is vying for a bigger global payment share, upping its ante with launches of new technologies and promotional campaigns around 168 countries and regions.