Mi Pay payments app has been Established in India.
Xiaomi at the Redmi Go launch event on Tuesday launched the Unified Payments Interface (UPI) based payments app in the country. The company emphasised it has complied with data localisation requirements, and the Mi Pay program has been approved by the National Payments Council of India (NPCI). ICICI Bank will function as the payment service provider for your Mi Pay program.
Xiaomi states that the Mi Purchase app will be available via the Mi Apps store shortly, and that the framework will be deeply integrated within MIUI over the next couple of weeks so that consumers won’t have to open the Mi Pay program to make payments.
Mi Pay app features
Mi Pay has been incorporated within the native SMS, Contacts, App Vault, and Camera scanner apps. Aside from money transfer, the UPI-based Mi Pay app also supports recharges and charge payments. These features match those available from other important UPI-based payments apps in the nation, including Google Pay and PhonePe.
The Mi Pay UPI-based payments app are also available as a payments choice on Mi.com in addition to the Mi Store program, Xiaomi announced at the Redmi Go launching event.
Mi Pay offers
In an effort to entice the consumers to utilize the Mi Pay app, Xiaomi is running a couple of promotions in the nation. As part of these promotions, the corporation will be giving out free TVs and mobiles to lucky Mi Pay users.
Mi Pay app history
Obviously, that the China version wasn’t based on UPI frame. Reports of its entry into the Indian marketplace started emerging in August last year, using an RBI licence approval allegedly being awaited at the time.
In December this past year, Xiaomi announced it had started beta testing of this Mi Pay program in India, also in February this year, the Mi Pay program became a part of the MIUI 10 Global Beta ROM. Of course, with the launch, Xiaomi is taking on established UPI-based payments programs in India, such as Google Pay and PhonePe. WhatsApp is of course also working on its UPI-based obligations system, WhatsApp Pay, that is already in testing in India.