Mi Pay Is Upcoming In India, Xiaomi Official Announcement

The Beijing-based tech giant Xiaomi has already introduced its own payment platform called Mi Pay, besides the new Redmi Go. The Xiaomi payment service has been launched in China since 2016 and has its beta trial for the Indian market after that. Now the test is completely done and the Mi Pay is ready for the full access in India.

In India, the company is collaborating with NPCI (National Payments Corporation of India) and multinational bank ICICI to build the platform based on the Unified Payments Interface (UPI). The Xiaomi payment platform has also supported over 100 banks in the second-largest smartphone market.

Mi Pay supports payments in several ways

Mi Pay provides to other users of it as well as bank accounts the instant P2P transfers. As the most common digital payment features, the customers using the app can pay for the bills of gas, electricity, television or top up the phone rapidly. The service also allows instant transactions from other apps such as SMS, contacts, and scanner on Xiaomi devices. In addition, Xiaomi will soon support Mi Pay for major broadband providers (Hathway, Asianet, Nextra Broadband..) through Xiaomi official website as well.

Xiaomi latest platform will be available on Mi Apps soon

According to the Xiaomi statement, the company is in association with the firms Lucideus and EY for user data privacy, which stores its data only on Indian servers. Directly, Mi Pay is competing with other digital payments like Google Pay, Whatsapp's payment and Paytm. Due to the Xiaomi popularity in India, the payment platform is expected to gain attraction significantly from Mi users.