Huifu Launches New Payment Service Adapay that Redefines Digital Payment
September 3, 2019. Shanghai – Huifu Payment (01806.HK), a leading payment technology company in China, officially launches today a new digital payment service in Shanghai, dubbed “Adapay”. Themed “Light Future”, the launch event was attended by Zhou Ye, Chairman and CEO of Huifu, Yi Jun, Chief Data Officer of Huifu, Liu Gang, Technical Director of Alibaba Economics Financial Cloud, and Zhang Yang, Co-Founder and Chief Analyst of ifenxi.
An innovative payment service mode – 2-minute speed access to network
Since 2019, the trend of industrial digitalization has become more prominent, which has brought a new question to the third-party payment industry – what kind of payment service is in demand in the digital era?
Traditional payment transaction process needs redefinition in the face of the application scenarios with more small-amount, high-frequency third-party payment, as well as new payment requirements in start-up and emerging consumer scenarios. Innovation of technology-led business models is increasingly becoming a strong force in industrial change, where “developers” have the say. Only with comprehensive innovation can the payment service process and operation methods conform to the new development trend.
Hence Adapay came into being. Huifu made it “developer-friendly” – a new “plug-and-play” aggregation payment access and service model to help merchants quickly access mainstream payment channels and to ensure a convenient, safe and smooth payment process with digital payment.
With the “light, simple, easy, fast” digital payment services, Adapay enables network access in 2 minutes, offers 8 kinds of SDKs with 7 lines of code connection. It takes only 4 steps to complete the docking and 5 minutes to finish the joint test.
Meanwhile, Adapay combines a wide range of payment ways including through bankcard, QR code, APP, Mini Program, WeChat official account, etc. and is able to superimpose various value-added services such as aggregate authentication, WeChat business card, data BI, etc.
In addition, Adapay serves both merchants and developers. In the whole process of service docking, Adapay considerably reduces the intermediate links, allowing direct dialogues between merchants and payment developers and creating open docking experience for developers.
It’s fair to say that Adapay has brought the engineer culture to the fullest and completely broken the docking mode of the traditional payment business. Once the business engineer encounters a problem in the process of payment access, the real-time work order service system will offer real-time help and technical support by generating an online work order, automatically matching the solution and corresponding payment technical engineer for them, which reduces the docking threshold of the merchant side and greatly enhances the user’s autonomy.
More than payments, Adapay also accesses world’s leading technology. Underpinned by global leading cloud technology and based on the original research and development of Alibaba Cloud IaaS, PaaS and DaaS, it has excellent expansibility and agile development capabilities, which can effectively improve business performance and disaster recovery capabilities, significantly reduce operating costs and make payments as lightweight as possible.
Yi Jun, Chief Data Officer of Huifu, said that Ada comes from the name of the first programmer and the most efficient computer language, and Adapay is a new practice of Huifu’s whole-process digital development methods and service models. Adhering to the concept of offering high-quality, convenient digital services and the best and easy-to-use customer experience, Adapay has achieved a quick connection to any system payment tool and will superimpose a wide range of value-added services such as smart contracts, account systems, member bills, fund management, and financial credit in the future.
A payment technology company in the digital age
The new technology developed in the age of digitalization is increasingly becoming the primary productive force of the digital economy, and innovative technology has become the new engine for its sustainable development. Huifu will continue to fully implement the core strategy of digital transformation, stay committed to “transforming payments with technology” and enhance capacity building of science and technology.
According to the data of Huifu Report for the first half of 2019, the company invested RMB 123 million in R&D during that period, a year-on-year increase of 66%. The R&D personnel accounted for 43% of its total, making its research capabilities in the same league with global leading technology companies. In order further promote the effective implementation of the digital strategy, Huifu’s board of directors approved the establishment of the Technology & Data Management Committee.
In this regard, Zhongtai Securities pointed out that Huifu has achieved steady business development in the first half of 2019 by actively promoting the core strategy of digital transformation, and maintained sound development momentum despite the slowdown in the growth of overall transaction volume of the payment industry.
New technologies such as cloud computing, big data, artificial intelligence, 5G, blockchain, etc. not only bring unlimited possibilities for business model innovation, but also create new business opportunities under the new circumstances. Since payment is the infrastructure for business and finance, we need to keep redefining the value of our services now and in the future.
Zhou Ye, Chairman and CEO of Huifu, said that Huifu will continue to make a new strategic layout, innovate technology and service models through leading technologies and excellent operations, and bring together more professional service providers of various sectors, so as to empower each industry with deep payment services and diversify value dimensions with joint efforts.