Xiaomi announces Mi Pay mobile payments service in India

Back in late May this year, Chinese smartphone brand Xiaomi announced Mi Credit in India. Mi Credit is a lending platform which offers loans from ₹1000 to ₹1,00,000. Well now, the company has announced its mobile payments service in India called Mi Pay.

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With Mi Pay, Xiaomi aims to take on the likes of Paytm and Google Pay in India. With this service, users can make payments for phone bills, water bills, electricity bills, and more. You can make payments with Mi Pay using debit cards, credit cards, Internet Banking, as well as UPI.

Mi Pay is supported by ICICI Bank and PayU in India, and, Xiaomi says that this service has got clearance from National Payments Corporation of India (NPCI) for large group usage which is why its beta testing is going live in the country.

Mi Pay’s biggest advantage is its deep integration within MIUI which makes transferring payments to contacts and vendors extremely easy. To begin with, Mi Pay would be integrated within the Contacts, SMS, Scanner apps as well as App Vault in MIUI. All user-generated data will be kept in a highly encrypted format within the India-based cloud infrastructure,” said Xiaomi in a post on its official forums.

Those of you who are interested in beta testing Mi Pay can click here to register. Registrations end on December 31. However, do note that you need to be on MIUI Global Beta ROM to be able to beta test Mi Pay.