Xiaomi Launches Mi Pay Mobile Payment Service In India
With online payments and mobile wallets becoming the most favoured and popular method of payments in recent years, more and more companies are stepping into this arena. With Paytm, Google Pay and PhonePay already ruling the Indian market, a new player was nowhere in sight. However, in a surprising move, smartphone giant Xiaomi has now launched their mobile payment service. It is called Mi Pay and the beta testing for the same is now going live.
The Mi Pay service is a platform that is supported by ICICI Bank and PayU in India. With the service you can make payments using UPI, debit cards, credit cards and internet banking. It also allows you to pay bills or do mobile and DTH recharges. It also includes phone bills, electricity bills and water bills. The service has been cleared by the National Payments Corporation of India (NPCI) for large group usage.
The beta testing will soon be available for MIUI users, according to Xiaomi. You can sign up for the beta testing for the same here. The company also announced that the service will support all leading credit and debit cards at the time of the launch.
Additionally, Xiaomi highlights the advantages that Mi Pay has over other payment services. They say that the best feature is the deep integration with MIUI. This makes transferring amounts to contacts and vendors very easily. Mi Pay will also be integrated with Contacts, SMS, Scanner as well as App Vault in MIUI. According to the company, al user-generated data will be kept in a highly encrypted format ‘within the India- based cloud infrastructure’. The company has also provided an extensive guide to using the service.
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With this, Xiaomi has stepped out from your homes and into your bank account. Over the years, it has taken gradual steps to ensure that it is not just a smartphone brand but a lifestyle choice foe consumers. Xiaomi now provides everything from toothbrushes to air purifiers, to t-shirts. In fact, there are more than 200 Xiaomi products which are not available in India right now, which can expand the company’s reach. What the future holds for a company like Xiaomi and where it will be in the next couple of years is sure something to watch out for.