Chinese smartphone developers and electronics company Xiaomi announced the rollout of its mobile payment system, Mi Pay, in India following a December launch in beta mode.
Through the app, users can make purchases via multiple payment options including unified payments interface (UPI), credit cards, debit cards, and internet banking.
Mi Pay was first announced for India in December last year and beta testing programme has been ongoing since.
The payment platform is built on the UPI platform developed by the National Payments Corporation of India (NPCI) and will support over 120 banks, according to the company.
Mi Pay users will be able to pay for amenities like gas, water, and electricity as well as top up their phone or TV bills.
The service also offers peer-to-peer (P2P) transfers to other Mi Pay users or bank accounts. It is integrated with MIUI and allows for instant payments from other native Xiaomi apps via text, contact and users can also make payments via QR codes. .
To tackle doubts about the security of the app, Xiaomi not had its app been audited and approved by the NPCI but also explained that Mi Pay data is stored only on Indian servers and that it has collaborated with EY and cybersecurity firm Lucideus to keep user data safe.
The app will be available soon through Mi Apps, Xiaomi’s Android app store, according to Xiaomi India’s official Twitter account.
