Muralikrishnan, COO, Xiaomi India officially unveiled the Mi Pay service today in India. The payment service had its homeland launch in 2016 and touched the Indian Subcontinent recently in India through a beta programme. NFC based mobile payment system will be powered by ICICI Bank and PayU. Now with its stable release, let’s see what it has to offer.
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Where can you pay with Mi Pay in India?
Just as several other wallets, you will be able to use Mi Pay for money transfer through UPI (up to 1,00,000 INR per day), bill payments and recharges. There is an option to pay by scanning QR codes, including the Bharat QR code, as well. As far as receiving payment is concerned, you could opt for multiple options like self-generated personal static/dynamic QR codes.
Users will also be able to avail other standard UPI related benefits like checking their bank balance, changing UPI PIN, etc. Its integration with MIUI 10 and above (for now) makes it more convenient for a seamless transfer of money directly to bank accounts from the SMS, Contacts and Scanner apps.
Furthermore, you don’t have to panic for your privacy or doubtful of your data security as they would be safely and locally (India) encrypted in the cloud.
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Mi-Pay enters a competitive field with top players like Paytm, Google Pay and WhatsApp’s in-built payment system. You could soon download it from Mi Apps store once it rolls out in 2-3 weeks.
