In the early part of May 2020, Huawei Mobile Services, or HMS, officially released Huawei Pay Singapore. With the launch of Huawei Pay in Singapore, users in Singapore can now access an easy, secure, and hassle-free option of conducting financial transactions on their smartphones. By simply connecting their bank cards with Huawei Wallet, users can use Huawei Pay to easily make in-store and in-app purchases. Below is all the nitty-gritty of Huawei Pay Singapore, and its features, that are gaining immense traction among users.
What is Huawei Pay Singapore?
Huawei Pay is a Chinese Mobile Payment Service that has collaborated with several partners across a number of different countries, in order to initiate its services in those countries. Huawei Pay Singapore is Huawei’s Singaporean venture, which was launched in May 2020. The service is offering Huawei/Honor device users an extremely secure and hassle-free smartphone payment option.
What can you use Huawei Pay Singapore for?
Below are the basic functions that you can perform by using Huawei Pay Singapore:-
- You can initiate in-store, as well as in-app purchases and pay via your phone.
- You can use the payment code option to transact and pay for in-store purchases. Please note that the facility to use payment code is only being provided in certain regions.
- Huawei Pay Singapore can also be used for making payments for local transportation. Please note that this facility is also being provided in only certain regions. To activate contactless services, users would have to download Aleta Planet’s “AP-1” mobile app from HUAWEI AppGallery. Then, users would have to submit an application to obtain an AP-1 virtual card. The whole process can be completed online. So you can apply online and you would be issued an AP-1 virtual card that you can use for contactless payments.
- You can use Huawei Pay by downloading the Huawei Wallet from AppGallery and installing it on your device. Once installed, one or more bank cards can be added to Huawei Pay.
Features of Huawei Pay Singapore you should know
Below are some of the features of Huawei Pay Singapore, that you should familiarise yourself with:
- Huawei Pay Singapore is the result of a unique collaboration between
Huawei Pay and ICBC Singapore Bank (The Industrial and Commercial Bank of China). ICBC Singapore Bank is the very first financial institution that has put its might behind Huawei Pay. According to a Huawei Spokesperson, the service is looking forward to partnering with other financial institutions in the region as well.
- Huawei Pay Singapore was officially released in Singapore after an exclusive partnership was forged between Huawei and UnionPay. This enabled consumers to use the secure mobile payment services being offered by Huawei Pay. With UnionPay, credit cards issued by the Industrial and Commercial Bank of China Singapore (ICBC Singapore), users can now use Huawei Pay Singapore to make contactless and cashless payments via Huawei / Honor devices.
- Huawei Pay Singapore arrives pre-installed on the new Huawei P40 series, which was also recently launched in Singapore. Don’t worry if you are not a Huawei device user. Huawei Pay functions on non-Huawei/Honor devices as well. If you are a non-Huawei user, you can go to the App Gallery and download Huawei Pay from there.
- Huawei Pay Singapore is able to sustain contactless NFC payments that are available as a payment option in retail shops. Hence, it could be used in other POS (Point-of-Sale) terminals as well, and therefore, there is no requirement for you to carry around your credit card. As long as you have your mobile with you, you can make payments, at all places where NFC payments are supported.
- By allowing you to pay with phones that support NFC or Near Field Communication, Huawei Pay Singapore makes sure that you no longer have to rely on plastic cards for making payments. You can quickly and conveniently pay with this secure payment service. All you have to do is tap your NFC-compatible mobile device on the front of the contactless payment terminal or card reader.
- Payment services being offered by HMS (Huawei Mobile Services) utilize the same biometric authentication system that your device uses, to ensure security. These systems include facial and fingerprint recognition, which authenticates the users’ identity. After undergoing user authentication, users can securely proceed to complete their retail purchases and payment process.
- In some specific regions/countries, Huawei Pay has provided users with the facility to make payments via barcode or QR code.
The partnership between Aleta Planet and Huawei Pay Singapore
Stationed in Singapore, Aleta Planet is the very first FinTech firm that has come forward to establish a partnership with Huawei Pay, in the Asia-Pacific region. Supporting NFC, as well as QR code payments, Aleta Planet has allowed Singapore to join the select group of countries where Huawei Pay is able to provide these additional payment options. In its capacity as a virtual card service provider, Aleta Planet has enabled its customers to make payments, transfer remittances, and receive payments via the UnionPay network.
Huawei Pay Singapore is at an early stage in its journey of taking root in the Singaporean market. Given the stronghold of plastic cards, particularly credit cards, within the payment services space, Huawei has some challenges to overcome. However, considering how quickly local partners have jumped aboard, it is safe to say that Huawei Pay Singapore has great potential to grow within the Singapore payment market.