Huawei has been doing a lot to do one better than competitors lately. The brand launched its own truly wireless earbuds recently. Now, the company has a banking card of its own. The Huawei Card was announced alongside P40 smartphones at a local Chinese event by CEO Richard Yu. Also Read - Huawei Mate 40 could offer 5nm Kirin 1020 SoC and free-form camera lens
The new Huawei Card service will sound familiar to users who recently heard about the Apple Card. A similar product, the Apple card was launched by the Cupertino-based company last year as a payment alternative for Apple Pay users. Also Read - Huawei to enter GPU market in 2020, could eye Nvidia personnel: Report
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The basic features of the Huawei Card were confirmed at the event. It will be heavily linked to the Huawei Pay service. This suggests that users will likely see similar levels of flexibility when it comes to operating the card and its virtual aspects. However, Huawei Pay already handles most of those services. Also Read - Huawei launches 65-inch 4K OLED TV with 120Hz refresh rate: Price, full specifications
The card itself will operate through a UnionPay backend that will be used to process payments. Moreover, it also comes with NFC making it useful for contactless payments. However, there is one major difference between the Huawei Card and the Apple Card. The Huawei counterpart will include annual fees, similar to the fees charged by a regular credit card.
If you purchase the Huawei Card, you will get the first year free without any charges. If you meet a certain number of transactions, later on, you can also get the fees waived off your second year. Further, the card promises users bonuses including cashback programs and things like a VIP lounge access and more.
The company will also be taking care of the Huawei Card’s security. The statement is important at a time when Huawei is already being drowning in scandals of spying accusations. How much of a user base Huawei can accumulate with the new card remains to be seen. The major competitor, Apple Card, has already been available to people in China since the People’s Bank of China approved this.