Xiaomi India has officially launched its mobile payment service Mi Pay in India. The company’s Mi Pay service is supported by ICICI Bank and allows to send money to any UPI address and Bank account.
MI Pay will be available via Mi App Store soon. It will also be deeply integrated within MIUI over coming weeks. So, MIUI uses will not have to open Mi Pay app to make payments.
The has been integrated within the native SMS, Contacts, App Vault, and Camera scanner apps. So, one can trigger payments directly from these apps.
Users will also be able to pay for phone bill/recharge, DTH recharge, water bill, electricity bill, more than 120 billers.
For launching the service, the company has complied with data localization requirements and has been approved by the National Payments Council of India (NPCI).
Xiaomi’s MI Pay will compete against Google Pay, Paytm and Whatsapp’s payment feature. Xiaomi is already the one smartphone brand in India and so it has a good chance of doing well in the market.
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