Chinese phone manufacturers have a long history of taking Apple's best ideas and making them their own. After all, who could forget when Xiaomi released a not-so-subtle riff on Memoji. So it shouldn't come as any surprise to see a company like Huawei announce a credit card.
Huawei Consumer Business Group CEO Richard Yu unveiled the Huawei Card during the company's Chinese P40 launch event earlier today. And while we don't have all the details, the company's new plastic unsurprisingly borrows a lot of the Apple Card's best features. For instance, it's both a physical and virtual card. What's more, the company's phones will store any data in the same secure enclave that handles mobile payments. UnionPay, China's largest card payment organization, is backing the card, and it supports NFC for tap.
It also appears Huawei wants to give consumers as many reasons to sign up as possible. There's no first-year annual fee, and the company will waive the second-year fee for those who spend a certain amount through Huawei Pay. The card also comes with travel benefits. After spending a certain amount of money, users can get lounge access at train stations and airports. Huawei plans to offer special in-app promotions, and people who pay for purchases using Huawei Pay will be eligible for cashback rebates.
Yu didn’t mention a release date, so there might be a bit of a wait before it’s available.