In recent years, Xiaomi has increased its growth immensely by indulging in products other than smartphones. Xiaomi currently is manufacturing smartphones, tablets, laptops, wearable devices, TVs, routers and other smart home devices. Now the Chinese OEM has introduced Mi Pay (digital payment) platform in India. At the moment, the program is in beta stage. It is clearly aimed at competing with PayTM which currently dominates the online mobile payment system in India.
Xiaomi has partnered with ICICI bank and Pay U to launch Mi Pay in India, although it was previously introduced as an NFC-based payments service in China. The new Mi Pay supports UPI and all credit cards and debit cards. The new platform will give competition to the likes of Google Pay which uses a similar method. Mi Pay offers payment services for phone, water and electricity bills. Moreover, it can also be used to recharge phone and DTH balance.
Xiaomi announced Mi Pay beta program through official forum where it states “Mi Pay’s biggest advantage is its deep integration within MIUI which makes transferring payments to contacts and vendors extremely easy. All user-generated data will be kept in a highly encrypted format within the India-based cloud infrastructure.”
In order to participate in the Beta testing program you must have a stable MIUI Global Beta ROM then you will only need to sign up for the program. The last date to participate is December 31.