Xiaomi has introduced Mi Pay mobile payment solution in India supported by ICICI Bank and PayU. The company today started registrations for beta testing as National Payments Corporation of India (NPCI) has cleared Mi Pay for large group usage. 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.
It added that at launch, Mi Pay will support all leading credit cards and debit cards, unlike Google Pay or WhatsApp Payments. It lets 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. All user-generated data will be kept in a highly encrypted format within the India-based cloud infrastructure.
Highlights of Mi Pay
- 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
- Manage your bank account
If you are a using MIUI Beta ROM, you can signup for Mi Pay Beta here before December 31st.