Huawei's payment license agency 'Xunlianzhipay' changed its name to 'Petal Payment'

According to news from this site on October 15, in March 2021, Shenzhen Xunlian Zhipay Network Co., Ltd. underwent industrial and commercial changes, and Huawei became the sole shareholder. This also means that Huawei has successfully become another company to acquire payment licenses after Xiaomi. Mobile phone manufacturers.

On October 13, the People's Bank of China updated the licensing information for major changes in non-bank payment institutions, agreeing to change the company name of Shenzhen Xunlian Zhifu Network Co., Ltd. to "Petal Payment (Shenzhen) Co., Ltd."

Excerpted from the People’s Bank of China’s Notice of Licensing Information on Major Matters Changes for Non-bank Payment Institutions (as of October 2023)

Public Information shows that Xunlian Zhifu was established in June 2013 with a registered capital of 200 million yuan. It is a third-party payment service provider focusing on the field of mobile Internet finance. Its business scope includes the technical development of electronic payment, payment settlement and clearing systems. and technical consulting services; Internet payment, mobile phone payment, digital TV payment business, etc.

It is worth mentioning that Xunlian Zhifu was first funded by ZTE Software Co., Ltd. and obtained the "Payment Business License" from the People's Bank of China in 2014, and was allowed to carry out Internet payment, mobile phone payment, and digital TV payment and other services, but later took the initiative to terminate the "digital TV payment" business.

In January 2018, ZTE Software completely withdrew from the ranks of shareholders of Xunlian Zhipay. From then on until it was acquired by Huawei, ZTE Software has been wholly owned by Shanghai Wo Ruiou and is also a shareholder of Zhengtong. Its payment institutions.

In October 2020, Huawei Technologies Co., Ltd. applied for the "Petal Payment" trademark, covering categories such as financial property management and scientific instruments. According to reports, the content covered by Petal Payment includes real estate management; debit card payment processing; insurance information; electronic transfer; online banking; credit card payment processing; currency exchange; e-wallet payment services; capital investment; using membership cards to provide services to others at participating institutions. Offer discounts.

In the first half of 2022, Huawei Pay will be officially launched, covering Huawei Music, Huawei Video, Huawei Reading, Mango TV, Youdao Cloud Notes, PP Video and other Huawei applications and some third-party applications.

In July 2022, Ma Chuanyong, President of Huawei Terminal Cloud Service Payment BU, disclosed that the number of monthly active users of Huawei Wallet has exceeded 100 million. Ma Chuanyong also said that Huawei Pay is not only mobile payment, but also an innovative full-scenario payment platform.

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