Xiaomi has introduced Mi Pay mobile payment solution in India backed by ICICI Band and PayU. The Chinese manufacturer today started registrations for beta testing as National Payments Corporation of India (NPCI) has cleared Mi Pay for large group usage.
Mi Pay Mobile Payment Solution
The Mi Pay will let you easily transfer money to others through UPI, make payments for several utilities such as phone bill/recharge, DTH recharge, water bill, electricity bill and more. Apart from that, this will support all leading credit cards and debit cards, unlike Google Pay or WhatsApp Payments.
Furthermore, the company said that Mi Pay would be integrated within the Contacts, SMS, Scanner apps, as well as App Vault in MIUI and, will be available for all MIUI users soon. Most importantly, the company said that all user-generated data will be kept in a highly encrypted format within the India-based cloud infrastructure.
Mi Pay Mobile Payment Solution Overview
- Manage your bank account
- Link or unlink your bank accounts to Mi Pay to facilitate transactions using the UPI PIN and the virtual payment address (VPA)
- Transfer money to other UPI users, request and collect money from other UPI users and pay for goods or services that accept UPI payments, using your bank account
- Modify or reset the UPI PIN for your bank account
- Check the balance of your bank account
- Pay by scanning QR codes, including Bharat QR codes
- Generate personal static/dynamic QR code for receiving payment from other UPI users
If you are using MIUI Global Beta ROM, you can signup for Mi Pay Beta here before December 31st. The induction of Mi Pay will enhance the reliable free flow of cash, which also shakes hand with the Digital India initiative, but there’s a concern on user-generated data, especially when Chinese companies has been blamed in the past for the stealing the data.