After capturing the Indian
smartphone market, Chinese company Xioami has launched Mi Pay in India. Mi Pay
is a service based on the Unified Payment Interface (UPI) and it has been
integrated into the company MIUI. In China, the company launched the payment
service in 2016.
Mi Pay is currently available for beta users and the company wants to test it first. It is going to be a hit on Google Pay and other payment apps because Xioami user base is quite in India. For this payment service, Xioami has partnered with Indian Financial Institutions including ICICI Bank and Payu in India.
Xioami said, ‘Beta users are being
invited for their latest internet service. Mi Pay is a revolutionary payment
service platform that is being launched in India with the support of ICICI Bank
and PayU ‘
Mi Pay works like Google Play and
users can make mobile transactions. Users can make bill payments through Mi
Pay, which will include phone bills, electricity and water bills. It can also
recharge the phone, can recharge DTH.
Under Mi Pay, users can make payments from UPI. The special thing is that selective debit and credit card payments can also be made. According to the company, users of Mi Pay can make payments through debit, credit card, and the UPI.
New entry in the digital payment segment, Paytm came in to give Xiaomi’s Mi Pay:-
As fast as the online transaction is becoming popular in India, the entry of new players is increasingly being done in this segment. Of course, Paytm is a big player of this segment but the second peller is also not able to woo people. The country’s number one Chinesesmartphone company Xioami is now rolling out a new payment app Mi Pay in thedigital payment sector. Xiaomi has got permission for digital payment servicefrom National Payment Corporation of India for this. The company has launchedits Mi Pay app in India. In order to start the service for me, Xioami has partnered with ICICI Bank and BeveragePayment Gateway in India.
How can you pay
Credit and debit cards of all major banks will be accepted on Mi Pay, while this feature is not available in google play or Whatsapp app. Users will be able to transfer money via UPI and will also et money from other users. In addition, mobile phone bills, DTH recharge, gas,electricity or water bill will also be able to pay.
Can scan QR codes
You can link or link to your bank account through Pay Pay. Apart from this you can also modify the UPI pin for your account. Users can also create private QR codes for money transactions.This means that someone else can send money as soon as you scan your QR code.You will get the convenience of scanning all types of QR codes including BharatQR code in the app.
Data will be safe: Xioami
The company claims that all the personal details of any transaction the customer will be encrypted. Encrypted means that no third person can find details of any , you make. Xioami says that the complete user-generated data will be stored and stored in the company’s cloud infrastructure in India. Xiaomi Mi Pay will be available on the beta version for Xioami phone users running the MIUI Beta ROM in the beginning.