Thanks to India’s own UPI platform, the digital payments revolution and adoption in the country has been impressive. And that, of course, makes India a very attractive market for companies that offer these services. Post demonetisation, when the use of digital wallets and e-payment platforms was being pushed, Google, PayTm, and then eventually almost every other app including Truecaller and WhatsApp, decided to join the revolution. Not to be left out, Xiaomi has also decided to join in.
Announced at an official forum, Xiaomi India revealed that it is rolling out a beta version of its new Mi Pay app in the Indian market. Xiaomi says that National Payments Corporation of India (NPCI) has cleared Mi Pay for large group usage and that it is currently testing the app in beta.
Xiaomi writes in its forum, “Mi Pay’s biggest advantage is its deep integration within MIUI which makes transferring payments to contacts and vendors extremely easy.”
Further, as the company reveals, it has partnered with ICICI Bank and PayU and enables mobile transaction similar to how Google Pay goes about it. However, unlike the Google Pay app, Xiaomi claims that Mi Pay will support both UPI and other credit and debit cards.
Similar to the likes of Google Pay and PayTm, besides money transfer, Mi Pay will also let you pay bills, make DTH recharge, pay water and electricity bills and so on. Mi Pay also allows the scanning of QR codes, including Bharat QR codes, like PayTm.