Taking a leaf out of Apple’s handbook, Huawei has introduced its own brand-new credit card, the Huawei Card.

Huawei announced the credit card at the China launch of its new P40 series of flagship smartphones. While not much has been revealed about the specifics of the card, the tech company has confirmed that the Huawei Card will have both physical and virtual versions. It will support near-field communications (NFC) contactless payments, and is backed by UnionPay, one of the largest card issuers in the world. Additionally, the data for the card will be managed with the same security protocols as those used for mobile payments on Huawei phones.

At present, Huawei is encouraging sign-ups for the card with a variety of perks, such as a first-year annual fee waiver. The annual fee for the second year may be waived, too, if users spend above a certain threshold through Huawei Pay, which it is naturally linked to.

Not only that, Huawei is also planning to add future rewards, such as travel benefits like lounge access at train stations and airports, as well as special in-app promotions. These promotions may include cashback rebates for those who pay for their purchases via Huawei Pay.

Given the similarities, many are comparing the Huawei Card to the Apple Card announced last year. The Apple Card is available in both physical and digital forms. It is also linked to the users’ Apple Pay, Apple’s mobile payments app. However, while the Huawei Card comes with annual fees, the Apple Card prides itself on having no hidden fees, including annual fees.

(Sources: Engadget, SoyaCincau)

• TAGS:
• Apple Card
• Cashless Payments
• Huawei
• Huawei Card
• Huawei Pay
• Mobile Payments
• UnionPay