Xiaomi enters digital payment segment, launches Mi Pay based on UPI in India

Officially launching its Mi Pay app, Xiaomi claims it as the easy way to pay for millions of MIUI users in India.

Xiaomi entered the digital payment segment by launching a mobile payment solution app - Mi Pay - in India today.

New Delhi: Chinese electronics giant Xiaomi entered the digital payment segment by launching a mobile payment solution app - Mi Pay - in India today. With its step to enter the digital world, Xiaomi is looking forward to expand its business by offering the customers the Mi Pay service, whereby people will be allowed to transfer money using UPI. Notably, India is the first country after China where Mi Pay has been launched. Officially launching its Mi Pay app, Xiaomi claims it as the easy way to pay for millions of MIUI users in India. Serving as a one-stop solution for consumers’ payment needs, Mi Pay is primarily a UPI-based application, deeply integrated within Xiaomi’s MIUI interface across SMS, Contacts, Scanner, App Vault, and Settings. ICICI Bank is the payment service provider for Mi Pay. Consumers can effectively make payments using UPI and other debit cards, credit cards and internet banking across 120+ banks and over 120 billers. The service will also allow several utility payments ranging from phone bills, phone recharges, water or electricity bill payments, making it highly convenient for Xiaomi users. Mi pay UPI has been approved by NPCI under the multi bank API model and it has been audited by CERT-IN empanelled auditors E&Y and Lucideus. According to Xiaomi, the application provides the most safe and secure transactions with all data stored locally in India servers in an encrypted format. Xiaomi launches 7th manufacturing plant in India Chinese smartphone maker also announced a new manufacturing plant in Tamil Nadu, making it the company's seventh such plant in the country. The manufacturing plant was launched in partnership with Flex Ltd. "We are delighted to announce our new smartphone manufacturing partnership with Flex Ltd. In line with our sincere commitment to Make in India, this new association will further drive our localization efforts," Muralikrishnan B, Chief Operating Officer, Xiaomi India said. The seven smartphone manufacturing plants of Xiaomi are spread across four campuses in partnership with Foxconn, Flex and Hipad. With the new plant, Xiaomi said it now has a combined manufacturing capacity of up to three smartphones per second during operating hours.