The manufacturer will launch in India its own mobile payment system.Unlike its competitors, Xiaomi does not use an NFC chip to pay a merchant but puts forward the payment by QR Code.
Xiaomi's turn to enter the battle of mobile payment . The Chinese manufacturer launches this week in India Mi Pay , its own system integrated with its various smartphones for sale in the country. Integrated with the overlay MIUI , this device will nevertheless differentiate from the solutions offered by Google or Apple.
A payment solution for everyday transactions
Mi Pay will not use the NFC chip of the smartphone and will not settle a merchant by its credit card terminal. Instead, the company has devised a device using QR codes or SMS.Xiaomi has been working on practical use cases such as paying gas, water and electricity bills, as well as mobile recharging or payment for cable TV.
The service also quickly transfers money to a loved one who also has a Mi Pay account or directly to his bank account. The mobile payment system is available from the MIUI directory or in the manufacturer's applications to facilitate transactions.
A platform accessible to tens of millions of Indian users
Xiaomi claims to have worked to secure transactions as much as possible. The data will only be stored on servers located in India, without recovery to the Chinese infrastructure manufacturer.The platform has been developed in partnership with the National Payments Corporation of India and is supported by more than 120 banks across the country, which should ensure rapid success. Xiaomi is one of the leaders in mobile telephony , with its smartphones very affordable compared to the average income of an Indian worker.