Along with launching the latest OnePlus 7T smartphone as well as the OnePlus TV models in the Indian market, the Chinese company also announced its plans to enter into the financials markets with the launch of OnePlus Pay.
While the company has confirmed that the OnePlus Pay series is arriving next year, the company has not revealed much related to it. Although it has said that there will not be a need for wallet anymore when the service arrives.
The Pay service from the company has been in works for some time. However, at this moment, it’s not known which banks and services are compatible with the OnePlus Pay platform or which countries the service will launch in.
Since the service has been announced during a launch event in India, we expect the Pay service to go live in India, along with a few other countries. But it seems that the biggest challenge OnePlus will have when it comes to its payments service is ensuring there are enough supported banks to make it worthwhile to use over its competitors.
OnePlus isn’t the only smartphone manufacturer that has entered the mobile payments space. Companies like Google, Samsung, Apple, Xiaomi and most recently Vivo have entered this segment. Even the likes of Fitbit and Garmin have entered this space.