Xiaomi has announced the Mi Pay Digital payment solutions in India in partnership with RuPay and ICICI Bank. The Chinese company has started accepting beta testers for the UPI-based service in the country which can be accessed through other MIUI apps like SMS, contacts and more.
Mi Pay will support all major credit and debit cards which haven’t yet been achieved in Google Pay or WhatsApp Payments. Users will be able to transfer money through UPI, make payments toward services like mobile phone bills, DTH recharges, gas, electricity or water bills. Like other payment services, users will also be able to request money and collect Monet from other UPI users and pay for services that accept UPI-based payments.
The Mi Pay will be able to link or unlink your bank account and also modify the UPI PIN directly for your account. Users will be able to create personal QR codes for receiving payments and scan QR codes including Bharat QR codes.
Xiaomi has obtained clearance from the National Payments Corporation of India (NPCI), meaning its digital payments service will be launched for a wider user base in the coming weeks. Xiaomi has also partnered with PayU payment gateway and ICICI Bank for the launch of Mi Pay.
The company has integrated the Mi Pay within its MIUI interface in such a way that users will be able to make payments easily from within their phones. The service will thus work hand-in-hand with the Contacts, SMS, Scanner and App Vault apps on a Xiaomi-branded phone. Xiaomi says all user-generated data will be saved and stored within its India-based cloud infrastructure in a highly encrypted format.
Xiaomi Mi Pay will be initially available through a beta version for anyone using a Xiaomi phone running on an MIUI Beta ROM. Interested users can sign up for the service through the Mi Pay website before December 31, if they qualify the eligibility criteria.