Xiaomi today rolled out its mobile wallet service Mi Pay in India, where it’s the most popular smartphone brand.
The Chinese gadget maker said this afternoon that Mi Pay allows Indian users to do cash transfers, phone credit top-ups, and payments for utility bills and satellite TV. It can also be used for online shopping as well as in-store payments.
Mi Pay / Photo credit: Xiaomi
Initially, the app only works with ICICI Bank and PayU accounts, while also supporting India’s interbank UPI network.
Xiaomi’s new service goes up against homegrown wallet app Paytm, as well as more recent entrants from Silicon Valley in the form of Google Pay and WhatsApp Pay.
As Mi Pay is baked into the software on Xiaomi’s phones, owners can do cash transfers via SMS.
The Chinese phone maker late last year received approval for the wallet app from the National Payments Corporation of India during a beta test of the service.
In a separate announcement, Xiaomi revealed it manufactures a phone every three seconds in India across its seven factories in the country.
Editing by Charmaine de Lazo
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