SINGAPORE, July 25, 2022 /PRNewswire/ -- During Huawei Intelligent Finance Summit 2022, Huawei and Murong jointly release the Mobile Payment and Micro Finance Solution. This solution reflects the leading technologies innovation for inclusive finance which makes inclusion possible to meet the opportunities and challenges of Financial Industry.

Digital transformation and innovation are developing rapidly. The opportunities and challenges coexist in the post-pandemic era, like cashless, cardless, contactless, etc. The number of mobile wallet users has grown rapidly. Mobile Payment market scale expect to increase to 1.3 Billon by 2023,  surpassing credit cards and cash with rapid adoption. The FinTech investments and innovation are increasing year by year.

In one word, the requirement to Mobile Finance and Micro Finance is becoming necessary to the people and connecting the diversified lifestyle.

Huawei and MuRong released this joint solution for Mobile Payment and Micro Finance to help banks to build a "1+4+7" end-to-end solution.

"1" means a Cloud-Native platform, which is provided by Huawei,

"4" demonstrates the 4 types of financial applications, which are Micro Saving, Micro Loan, Mobile Payment and Digital Marketing. These applications are operated on the MuRong Inclusive finance service platform,

"7" includes specific products, which are SuperAPP, Micro Saving, Micro Loan, Open Banking, Digital Payment, Digital Marketing and Digital Operating.

Besides, "N" likewise, banks can provide N kinds of financial scenarios, connect end users, and help merchants Acquiring customers, greatly enhancing the bank's attractiveness to merchants.

It indicates that through this solution, Commercial bank, Payment Institution, Telecom Operator and Fintech Company can be connecting and jointly innovating to benefit each other accordingly.

Global Senior Consultant of MuRong Technology Solution Center, Han Yidong said, "MuRong is the global leading provider of digital financial IT solutions, we have cooperated with Huawei to integrate digital technology innovation to explore the markets of inclusive finance."

 "Looking back the journey of cooperation between Huawei and Murong, the concrete achievements have already been reached. Furthermore, the joint innovative solutions also is in progress, expecting more cooperation with MuRong to create new value together for our customer." said Song Danping, President of Global Ecosystem CooperationHuawei Global Digital Finance.

Looking ahead, Huawei will continue to incubate the more finance solutions, by using innovative technologies and cooperating with partners, to accelerate more joint solutions for global financial customers to move towards Shaping Smarter and Greener Finance.

SOURCE Huawei