Huawei – the world’s third largest smartphone vendor – is following rivals Apple and Samsung by offering a payments service for its smartphones and wearables.

Huawei Pay was launched at a press conference in Shenzhen with Bank of China, its only partner to date, but other details were thin on the ground.

The Chinese company’s rollout schedule is unclear. Rival service Apple Pay was launched in China last month, and Samsung Pay is due to launch in the country this month.

Possibly their availability in its home market spurred Huawei into action.

South Korean rival LG also announced plans for a payment service, although Chinese rival ZTE told Mobile World Live it had no plans in that direction.

The Huawei announcement was first reported by Sina.