Xiaomi India announced their plans to enter into payment services in collaboration with ICICI Bank and PayU back in December. The company also started registrations for beta testing in December as National Payments Corporation of India (NPCI) had cleared Mi Pay for large group usage. During the launch, 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.
For the past two months, the company has been testing Mi Pay with the help of Beta testers and Mi Pay option was integrated under the Settings in MIUI Global Beta ROM released in January. Now, with the recent MIUI Global Beta ROM, the company has introduced Mi Pay 2.0 as an app.
Mi Pay has a basic UI unlike PhonePe or Google Pay and it requires Phone, Contacts and SMS permissions to run. Users have an option to transfer money to UPI address and Bank Account directly. As of now, there are no rewards/promotions on the app unlike PhonePe and Google Pay. Mi Pay is available only for Indian users and the device should not be rooted for Mi Pay to work on it.
Mi Pay 2.0 app is expected to be rolled out with MIUI Global Beta 9.2.14, but other MIUI users can download an older version from here.