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December 21, 2018

Xiaomi secures regulatory nod to launch Mi Pay in India

Chinese smartphone manufacturer Xiaomi has received the approval from the NPCI to introduce its mobile payment service Mi Pay in India.

“NPCI has cleared Mi Pay for large group usage, due to which its beta testing is going live, and soon it will be available for all MIUI users. At launch, Mi Pay will support all leading credit cards and debit cards,” the company noted in a statement.

Xiaomi has teamed up with ICICI Bank and PayU to launch the payment service in the country. It is currently inviting beta testers for the platform.

Mi Pay will enable users to pay through credit and debit cards, internet banking, as well as through UPI.

With the platform, consumers can make utility payments including phone bill/recharge, water bill, electricity bill, DTH recharge among others.

The solution will be integrated with the SMS, Contacts, Scanner apps, and the App Vault in IUI.

“All user-generated data will be kept in a highly encrypted format within the India-based cloud infrastructure,” Xiaomi said.

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