In addition to the new Redmi Go, Xiaomi has officially launched the Mi-Pay payment service on the Indian market. In 2016, Xioami launched Mi Pay in China and a beta version in India. The tests are completed and the Indian users have full access to Mi Pay.
The platform is based on the Unified Payment Interface (UPI) in collaboration with the National Payments Corporation of India (NPCI) and ICICI Bank and supports more than 120 banks.
The service offers peer-to-peer transfers to other Mi Pay users or bank accounts. It is heavily integrated with MIUI and enables instant payments from other native Xiaomi applications such as SMS, contacts and scanners. Mi Pay users can focus on the most common digital payment application cases and can use them to pay for services such as gas, water and electricity, as well as charging their telephone service providers’ bills. or television. Popular broadband providers such as Nextra Broadband, Asianet and Hathway are already supported, and the Xiaomi website will soon offer Mi-Pay support.
Xiaomi says Mi-Pay data is stored only on Indian servers and works with EY and Lucideus to protect user data. The new service is a direct competitor to Google Pay, Paytm and Whatsapp’s payment features and, judging by the popularity of Mi devices in India, a significant advantage could be gained.